" class="no-js "lang="en-US"> Wolters Kluwer Launches New Loan Processing System Vanceo™ Mortgage - Fintech Finance
Friday, March 29, 2024

Wolters Kluwer Launches New Loan Processing System Vanceo™ Mortgage

Wolters Kluwer’s Compliance Solutions business today launched Vanceo™ Mortgage – an easy-to-use loan processing system for the US market that creates highly intelligent and compliant, end-to-end loan origination workflows. The solution is designed to assign role-based tasks and enhance visibility for an institution’s mortgage lending operations and compliance management.

Wolters Kluwer says Vanceo Mortgage is “unique to the market in that it takes a user-centric approach to compliance by providing lenders with intuitive dashboards and intelligence that help narrow in on critical action items.” The advanced functionality allows financial institutions to address potential issues earlier, faster, and strengthen customer relationships, the company adds. The result is streamlined, efficient and highly intuitive compliance management for both lenders and consumers.

Additionally, Vanceo Mortgage eliminates the need for tracking in multiple systems the status and information on any transaction through its ability to create both systematic and manual process checkpoints. More specifically, Vanceo Mortgage addresses four major needs in the industry. It allows for role-based access, providing transaction and task information as well as actions through an at-a-glance dashboard personalized for the user and prioritized by urgency. It also provides transaction details, allowing for easy navigation to loan-level details and providing detailed notes for any transaction in progress. Vanceo Mortgage also enables users to readily view and focus in on highest-priority tasks and actions required to keep the transaction pipeline and portfolio moving forward. Finally, the solution allows for a central record for loans, featuring one centralized database with easy access to address inquiries on any loan in either an open or closed state.

“Financial institutions need solutions that are more intuitive and aligned with their business processes to meet consumer and regulator expectations,” commented Samir Agarwal, Vice President of Wolters Kluwer GRC Banking Solutions within the Compliance Solutions business unit. “We embarked on a journey to solve customer needs with their voice as the driver. Vanceo Mortgage delivers unprecedented value to lenders by enabling compliance, while improving their productivity, speed-to-close, and consumer experience.”

“Peer tested and approved, Vanceo takes a user-centric approach to compliance,” according to the solution website. “Intuitive dashboards and role-based workflows help you narrow in on critical action items and swiftly address potential issues. A central record improves visibility and reduces redundancy.” The end result, according to Wolters Kluwer, is a robust loan origination solution that “helps efficiently manage compliance while enabling faster close rates.”

Wolters Kluwer’s Compliance Solutions, headed by Executive Vice President and General Manager Steve Meirink, is a market leader and provider of regulatory compliance solutions and services to more than 2,000 U.S. banks and credit unions. It helps financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflow and gain the insight needed to focus on better serving their customers and growing their business. It is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, which provides legal and banking professionals with “solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.” GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

Wolters Kluwer itself is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. The Netherlands-based company reported 2017 annual revenues of €4.4 billion, serves customers in over 180 countries, maintains operations in more than 40 countries and employs 19,000 people worldwide.

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