According to Cindy Lowman, president of the United Bank Mortgage Corporation, the bank chose ComplianceOne manager to help meet the demands of regulators and business partners for increased data reporting and audit tracking capabilities. Compliance with each of these was becoming more challenging because of the bank's manual, paper-based reporting processes.

"ComplianceOne manager has become the eyes and ears of our offsite staff, giving them access to loan information without the actual paper file," said Lowman. "The result is fewer bottlenecks in the lending pipeline, faster processing times, reduced administration time and more responsive customer service."

In addition, Lowman says the solution's compliance tracking feature helps assure that the bank meets all compliance requirements. ComplianceOne manager helps users recognize which tasks are the bank's top priorities at any given moment, and ensures that each step in the documentation process is completed on time and meets regulatory requirements.

"Implementing a BPM solution helps financial institution's gain better process visibility. With the ability to monitor loan portfolios in real time, financial institutions can proactively detect and respond to changes in the marketplace before they erupt into serious business or compliance issues," said Lisa Fraga, vice president and general manager, Banking Solutions, Wolters Kluwer Financial Services.

ComplianceOne manager helps organizations continually operate at optimal business levels by treating lending workflow processes as strategic assets that directly contribute to overall enterprise performance. Another advantage of ComplianceOne manager is that it encourages better collaboration among employees. Lending officers, underwriters and loan processing staff all have access to the same information, so they can work together more effectively. As a result, financial institutions can engage more freely with customers, respond to their queries faster, decrease cycle times and errors, and focus on the right customer-centric business tasks—all of which are prerequisites to achieving higher customer satisfaction levels.

ComplianceOne manager can be used on its own, with Wolters Kluwer Financial Services' ComplianceOne or ARTA Lending solution, or with another loan origination system.