Andrew Johnson Bank Selects Wolters Kluwer Compliant Loan Offers
MINNEAPOLIS – (BUSINESS WIRE) – Andrew Johnson Bank, based in Tennessee, selected ComplianceOne from Wolters Kluwer Compliance Solutions®, Vanceo ™ mortgage offerings and online applications to help streamline, automate and improve its loan program capabilities.
Online Applications for Mortgages is an online application platform that enables small lenders to engage new customers and generate new mortgage leads, anytime, anywhere, virtually and without touching. Its complementary offering, Online Applications for Consumer Loans, allows borrowers to begin the process of borrowing money online for a wide range of secured and unsecured loan options, including auto loans, signature loans, home equity lines of credit and many other lending scenarios – all from the device of their choice.
ComplianceOne is a highly configurable loan origination solution and loan processing system that gives lenders access to a wide range of features they can choose and activate, depending on client needs. Vanceo Mortgage software includes a fully configured workflow engine and dashboard, giving lenders a quick overview of the most critical and role-specific tasks in a loan workflow, with the ability to tailor processes from work flow to the needs of a lender.
“The growing consumer demand for digital online banking transactions, combined with the impact of the pandemic, has led to a realization of the need for our customers to offer our customers the ease, speed and efficiency of this type of digital offerings for everyday banking needs. Says Brian Pate, Senior Vice President and Chief Credit Officer, Andrew Johnson Bank. “We have found the combination of these offerings and their ability to help integrate various loan origination and documentation components very appealing, and we are pleased with our clients’ receptiveness to these online capabilities.”
When used in conjunction with ComplianceOne and Vanceo, data flows seamlessly through online applications, allowing lenders to use information entered by the borrower throughout the origination workflow, without entry. duplicative data. Andrew Johnson Bank leverages these capabilities to manage its pipeline loan applications, tailor data collection to mortgage and consumer needs, and deliver a more comprehensive range of digital and compliant offerings to its clients.
“We are honored to support Andrew Johnson Bank’s strategy to deliver a whole new level of enhanced lending services to its clients with a bespoke set of capabilities,” said Steven Meirink, Executive Vice President and General Manager of Wolters Kluwer Compliance Solutions. “Clearly, these offerings can help community banks dramatically improve day-to-day digital banking transactions, while delivering the same localized customer experience that is the backbone of communities across the United States.”
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The company, which is part of Wolters Kluwer’s Governance, Risk and Compliance (GRC) division, helps these financial institutions effectively manage regulatory compliance risks and obligations, and obtain the information they need to better serve their customers and develop their activity.
Wolters Kluwer’s GRC division offers a range of expert solutions to help financial institutions manage regulatory obligations and risks. EOriginal from Wolters Kluwer Compliance Solutions® A specially designed suite of digital lending solutions, for example, helps lenders digitize their transactions and includes electronic signatures, collateral authentication and an electronic safe. Wolters Kluwer Lien Solutions’ ILien Motor Vehicle enables the processing and management of motor vehicle titles and privileges, helping solve the most unique and complex title perfection challenges. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in providing integrated regulatory compliance and reporting solutions.
About Wolters Kluwer Governance, risk and compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with evolving regulatory and legal obligations, manage risk, increase efficiency and generate better business results. GRC offers a portfolio of technology expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the healthcare, tax and accounting, risk and compliance, finance and legal industries. Wolters Kluwer achieved annual sales of 4.6 billion euros in 2020. The company, headquartered in Alphen aan den Rijn, The Netherlands, serves customers in more than 180 countries, operates activities in more than 40 countries and employs approximately 19,200 people worldwide.