Wolters Kluwer Financial Services has introduced a tool to help manage loan origination.
The ComplianceOne manager application, launched Tuesday, is a software-as-service system that lets banks monitor loan portfolios in real time, the Minneapolis-based financial services company said. It can be used with loan-origination systems including ARTA Lending and Wolters Kluwer's ComplianceOne.
The new application allows multiple parties to access the loan information at once, permitting improved loan oversight, Wolters Kluwer said. This feature makes it easier for a bank's lending officers and underwriters to ensure that the institution's policies and standards are being complied with, the release says.
"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," said Lisa Fraga, Wolters Kluwer's general manager of banking solutions, in the news release. "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."
