Andrew Johnson Bank selects Wolters Kluwer’s compliant lending offerings

Tennessee-based Andrew Johnson Bank has selected Wolters Kluwer Compliance Solutions’ ComplianceOne®, Vanceo™ Mortgage, and Online Applications offerings to help it streamline, automate and enhance its lending program capabilities.

Online Applications for Mortgage Lending is an online application platform that enables smaller lenders to engage new customers and generate new mortgage lending leads, anytime and anywhere, in a contactless, virtual manner. Its companion offering, Online Applications for Consumer Lending, allows borrowers to begin the process to borrow money online for a wide range of collateralized and non-collateralized loan options—including auto loans, signature loans, home equity lines of credit, and many other consumer lending scenarios—from the device of their choice.

ComplianceOne is a highly configurable loan origination solution and loan processing system that provides lenders access to a wide range of features they can choose and activate, depending on customer needs. Vanceo Mortgage software features a fully configured workflow engine and dashboard, providing lenders a quick line of sight into the most critical, role-specific tasks in a loan workflow, with the ability to tailor workflow processes to a lender’s needs.

“Increased consumer demand for online, digital banking transactions, combined with the impact of the pandemic, led to a realization that we needed to offer our customers the ease, speed and efficiencies of these kinds of digital offerings for day-to-day banking needs,” says Brian Pate, Senior Vice President and Chief Credit Officer, Andrew Johnson Bank. “We found the mix of these offerings and their ability to help integrate various components of loan origination and documentation very appealing and are pleased by our customers’ receptivity to these online capabilities.”

When used in conjunction with ComplianceOne and Vanceo, data flows through Online Applications seamlessly, enabling lenders to use borrower-entered information throughout the origination workflow, without duplicative data entry. Andrew Johnson Bank is leveraging these capabilities to manage its pipeline lending inquiries, tailor data collection for mortgage and consumer lending needs, and provide a more comprehensive array of digital, compliant offerings to its customers.

“We are honored to support Andrew Johnson Bank’s strategy to bring a whole new level of enhanced lending services to its customers with a tailored package of capabilities,” said Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. “Clearly, these offerings can help community banks markedly enhance day-to-day digital banking transactions, while providing the same localized customer experience that is the backbone for communities across the United States.”

Wolters Kluwer Compliance Solutions 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, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.

Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal® suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication and an electronic vault. Wolters Kluwer Lien Solutions’ iLien Motor Vehicle provides for the processing and management of motor vehicle titles and liens, helping solve the most unique and complicated challenges in title perfection. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions.

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help 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 2020 annual revenues of €4.6 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 approximately 19,200 people worldwide.