Alliance Helps Lenders With Loan Processing

IRVINE, CA-Minneapolis-based Wolters Kluwer Financial Services has formed a strategic alliance with locally based Financial Tools Inc. to provide commercial lenders with the ability to perform straight-through loan processing. The move intends to help promote efficient and effective compliance, business and workflow decisions throughout the commercial-lending cycle.

A seamless interface will be available from CASH Suite, the financial-analysis and risk-management software solution developed by Financial Tools to Wolters Kluwer's ComplianceOne loan and deposit origination solution that encompasses the company's commercial-lending content and functionality. With CASH Suite, the financial institution's entire loan team can streamline tasks like business development, financial analysis, risk-management pricing, credit communications and approvals, covenant-compliance tracking, portfolio management, stress testing and in-depth reporting. The integrated system eliminates redundant data entry present in siloed systems for financial institutions while improving compliance and reducing business risk.

According to Lisa Fraga, VP and general manager, banking solutions, for Wolters Kluwer, “As the economy and job market remain relatively weak, financial institutions often find themselves forced to do more with fewer in-house resources. Automating the commercial-loan origination process is a critical opportunity to drive operational efficiencies and profitability while reducing business and compliance risks. The alliance we've formed with Financial Tools allows them to take advantage of that opportunity.”

Dave Kampff, president and CEO of Financial Tools, adds that the combination of Wolters Kluwer's origination capabilities and built-in compliance content with the commercial-lending capabilities of CASH Suite “offers lenders a powerful approach to increase accuracy and reduce operational risk across the commercial-lending process.”

As GlobeSt.com reported in August, Turnbull Capital Group has formed a formal correspondent relationship with Imacor Capital LLC to capitalize on a unique and novel proprietary bridge-lending platform for the EB-5 industry. The construction bridge-loan program is backed by some of the largest commercial banks in the world.