Wolters Kluwer Financial Services has launched a SaaS business process management (BPM) tool called ComplianceOne manager solution.
The new standalone tool can be used in conjunction with ComplianceOne, ARTA Lending or other loan origination solutions in the market.
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ComplianceOne manager’s business process management capabilities offer financial institutions, executives and senior manager’s greater insight and better control over their overall lending businesses.
Using the solution, they can monitor loan portfolios in real-time, while overseeing process and potential performance issues as well as operational risks, and then take action before problems develop.
The solution ensures that origination policies and procedures are followed, allowing staff to identify exceptions to each, and putting the controls in place to help ensure front-line staff is in compliance.
Lisa Fraga, vice president and general manager of Banking Solutions for Wolters Kluwer Financial Services, said:
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By GlobalData"There is a significant opportunity for banks and credit unions in today’s financial services marketplace to make the management of their lending businesses more efficient and profitable through BPM. We created ComplianceOne manager as a flexible, scalable solution that can help them take advantage of that opportunity in ways that make sense for their own specific lending businesses."
Using this SaaS-based approach, institutions can also integrate and report on their lending transactions across their enterprise to provide banks and credit unions with a "faster, easier and more cost-effective way" to meet their business objectives.
