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Northumberland National Bank Selects Wolters Kluwer Financial Services For Straight-Through Processing Capability

ComplianceOne, CASH Suite™ Offerings Will Benefit Bank’s Commercial Lending Program

Pennsylvania-based Northumberland National Bank has selected two  Wolters Kluwer Financial Services systems that together will enable the bank to achieve straight-through processing for its commercial lending business. Northumberland National Bank selected the financial analytics bundle of CASH Suite™, an enterprise-wide financial analysis and credit risk management solution for commercial lenders, as well as the ComplianceOne® solution for loan documentation.

According to Northumberland officials, continued growth in the commercial lending space necessitated moving toward a more advanced and cohesive technology solution.

“We wanted to work with one vendor for our underwriting and origination activities, along with document preparation and compliance,” recalled Tom Crissinger, senior vice president of Commercial Lending, Northumberland National Bank. “The CASH suite, together with the ComplianceOne offering, will advance our capabilities around straight-through processing by further automating and streamlining our commercial loan origination process, and thereby make it possible for our organization to grow and serve even more customers.”

“Today, commercial lenders face challenges ranging from increased regulatory compliance and resource constraints to a lack of integrated systems and processes,” said Michael Fuchs, director, Commercial Lending, Wolters Kluwer Financial Services. “Straight-through processing can bring order to that chaos, providing lenders with an integrated system to link activities, eliminate redundant data entry, reduce error rates, streamline workflow processes, and accelerate profitability.”

The financial analytics bundle of CASH Suite includes the Insight, CRE, OnTrack, Bridge and CASH Doc modules and provides a bank with deep and comprehensive financial analyses on its commercial loans for both new loans and annual reviews. ComplianceOne is highly configurable and can be used as a standalone system or in conjunction with other Wolters Kluwer Financial Services solutions. Visit the CASH Suite™ and ComplianceOne websites for more information.

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides 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:  AppOne®, AuthenticWeb™, Bankers Systems®,  Capital Changes, CASH Suite™, GainsKeeper®, NILS®, OneSumX®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of  Wolters Kluwer, which had 2014 annual revenues of €3.7 billion ($4.9 billion), employs 19,000 employees worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.