Wolters Kluwer Launches New Consumer Lending Online Application Offering
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Wolters Kluwer Launches New Consumer Lending Online Application Offering

December 4, 2019
Wolters Kluwer’s Compliance Solutions business has launched Online Applications for Consumer Lending
Wolters Kluwer’s Compliance Solutions business has launched Online Applications for Consumer Lending (CLA), a digital offering that enhances the online loan origination capabilities of U.S. community banks and credit unions. CLA allows consumers to begin a loan application from any digital device, at any time. It integrates seamlessly with Wolters Kluwer’s ComplianceOne solution, a loan documentation and processing system that helps lenders optimize their lending and document preparation processes in a secure, fast and cost-effective manner.
 
With just a few clicks from their device of choice, a prospective borrower can begin the process for obtaining a loan online, rather than visiting a branch to get started. With CLA, the borrower enters information such as the desired loan amount and terms, contact details, and collateral—and the lender can use that information without re-keying.
 
“Until now, community banks and credit unions had few options available for providing online consumer loan applications, other than to build their own in-house functionality,” said Steven Meirink, executive vice president and general manager of Wolters Kluwer Compliance Solutions. “CLA helps level the playing field with larger institutions and internet-only banks, delivering an appealing consumer design and high-tech experience without a heavy technology investment. Ultimately, it empowers smaller, regional lenders to compete in a compliant, convenient and efficient manner in today’s rapidly evolving financial marketplace."

 
Technology