Minneapolis-based Wolters Kluwer Financial Services has launched a new solution for its ComplianceOne suite of products that monitors loan portfolios in real-time without any additional software, on the web-based software ComplianceOne or any other loan origination solutions, the company said.
Using business performance management for the lending processes is an opportunity for banks and credit unions to be more efficient and profitable, said Lisa Fraga, vice president and general manager of banking solutions for Wolters.
“We created ComplianceOne manager as a flexible, scalable solution that can help them take advantage of that opportunity in ways that make sense for theor open specific lending businesses,” she added.
Other features of the product include the ability to oversee process, identify performance uses and operation risk, which allows the used to take action before any problems develop, according to the company. It also allows the user to check if policies and procedures and being followed.
ComplianceOne is currently used by 1,600 banks and credit unions.