MINNEAPOLIS & IRVINE, Calif.--(EON: Enhanced Online News)--Wolters Kluwer Financial Services and Financial Tools, Inc. announced today that the pair have formed a strategic alliance to provide commercial lenders with the ability to perform straight-through loan processing. The move will help promote efficient and effective compliance, business and workflow decisions throughout the commercial lending lifecycle.
“As the economy and job market remain relatively weak, financial institutions often find themselves forced to do more with fewer in-house resources”
A seamless interface will be available from CASH Suite™, the comprehensive financial analysis and risk management software solution developed by Financial Tools to Wolters Kluwer Financial Services’ ComplianceOne® loan and deposit origination solution that encompasses the company’s commercial lending content and functionality. With CASH Suite, the financial institution’s entire loan team can streamline tasks like business development, financial analysis, risk management pricing, credit communications and approvals, covenant compliance tracking, portfolio management, stress testing and in depth reporting. The integrated system eliminates redundant data entry present in siloed systems for financial institutions while improving compliance and reducing business risk.
“As the economy and job market remain relatively weak, financial institutions often find themselves forced to do more with fewer in-house resources,” said Lisa Fraga, vice president and general manager, Banking Solutions, for Wolters Kluwer Financial Services. “Automating the commercial loan origination process is a critical opportunity to drive operational efficiencies and profitability while reducing business and compliance risks. The alliance we’ve formed with Financial Tools allows them to take advantage of that opportunity.”
“The combination of Wolters Kluwer Financial Services’ proficient origination capabilities and built-in compliance content with the comprehensive commercial lending capabilities of CASH Suite, offers lenders a powerful approach to increase accuracy and reduce operational risk across the commercial lending process,” said Dave Kampff, President and CEO of Financial Tools. “Couple this with our shared in-depth knowledge of regulatory compliance expertise and we’re providing lenders with peace of mind that the integrated commercial lending solution is helping them achieve regulatory requirements while improving workflow efficiencies.”
The two companies launched the partnership at Wolters Kluwer Financial Services 2nd Annual User Summit in Dallas, Texas, this September. Dave Kampff is scheduled to speak to the benefits of Straight Through Processing to more than 250 attendees.
For more information on Wolters Kluwer Financial Services new relationship with Financial Tools, please click here to request more information.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides more than 15,000 customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: FRSGlobal, FinArch, ARC Logics®, TeamMate®, Bankers Systems, VMP® Mortgage Solutions, AppOne®, GainsKeeper®, Capital Changes, NILS®, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and solutions provider with annual revenues of (2012) €3.6 billion ($4.6 billion) and approximately 19,000 employees worldwide.
About Financial Tools
Since 1993, Financial Tools, Inc. has empowered over 650 banks, credit unions, and other financial institutions with solutions that promote efficiency, accuracy and profitability at every step of the business lending process. Coupled with first-class support, training and consulting services, CASH Suite delivers straight-through processing for commercial lending by streamlining tasks like business development, financial analysis, risk management, pricing, automated credit memo preparation, covenant tracking, portfolio management, stress testing and in depth reporting. CASH Suite reduces operational risk and enhances long-term profitability throughout the lifetime of the commercial loan life-cycle.
For more information, visit http://www.FinancialTools.com.