Continued Accolades for Product Innovation Mark Record Year of Industry Recognition
Wolters Kluwer’s Compliance Solutions business has earned two 2019 BIG Awards for Business for product innovations it developed on behalf of financial services client firms. Compliance Solutions was honored with a BIG (Business Intelligence Group) Award for its Vanceo Mortgage automated loan operating system, as well as for its CASH Workflow module, part of its CASH Suite commercial lending solution.
This marks the third industry accolade for a CASH Suite offering this year, and the eighth industry recognition for Vanceo. The BIG Awards for Business were launched in 2012 and recognize innovation in all major industry verticals, offering companies, their products, people and tactics the opportunity to be globally recognized by panels of business veterans and leaders.
Categories for Compliance Solutions’ 2019 BIG Awards for Business wins include:
- New Product of the Year, Financial Solutions: CASH Workflow: A SaaS-based system, CASH Workflow helps commercial lenders better scale their operations and servicing workflows without increasing overhead costs—while assuring better compliance with defined processes. It digitizes the loan origination and servicing processes to reduce or eliminate paper handoffs between loan officers and departments, data entry bottlenecks, and duplicate data entry.
- New Product of the Year, Banking: Vanceo Mortgage: This automated loan processing system helps smaller lenders effectively manage the many elements needed to originate compliant loan transactions, providing real-time insight into loan origination details, identifying roles for the many individuals and lines of businesses that touch a loan, and providing greater transparency and ease of use throughout the lifecycle of a loan origination.
Additionally, these two offerings have garnered awards from two prestigious business publications. US Business News magazine announced Vanceo as winner of its 2019 Financial Compliance Technology Launch of the Year as part of its Finance Elite Awards series. Corporate Vision magazine named Vanceo as its 2019 Mortgage Processing System of the Year, and recognized CASH Suite as the 2019 Most Innovative Commercial Lending Platform.
“Each of these award-winning solutions was developed in close consultation with our clients, given their keen interest in exploring ways to further automate and simplify complex workflows and operations while ensuring compliance,” says Steven Meirink, Executive Vice President and General Manager for Wolters Kluwer’s Compliance Solutions, who notes that the business has won a record 25 industry awards in 2019. “These awards further reinforce our multi-year product roadmap focused on helping financial institutions address very real business needs, from reducing manual processes, errors and operational redundancies to speeding their transactions via digital channels increasingly demanded by today’s bank customer.”
Compliance Solutions, part of Wolters Kluwer’s Governance, Risk & Compliance division, 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 business helps these financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflows, manage risk and other regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, 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 (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2018 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 18,600 people worldwide.