Wolters Kluwer Financial Services today announced that it has released a Microsoft .NET-compatible version of its Expere Integrated Enterprise (Expere IE) solution in order to make the company's revolutionary compliance content management solution available to a wider range of financial organizations.
Expere IE helps financial organizations overcome a common business challenge - a decentralized approach to compliance that can cost them valuable time and money. According to a recent TowerGroup report, much of the $300 billion U.S. financial organizations spent on compliance and risk management in 2005 and 2006 can be attributed to decentralized approaches to compliance.
Using Expere IE, financial organizations can take advantage of a single compliance content management solution that gives them the ability to unite multiple existing documentation systems in order to produce reliable compliance documents across multiple business lines, such as mortgage, home equity and consumer lending.
"By introducing the .NET version of Expere IE to lenders, Wolters Kluwer Financial Services is giving them continued flexibility in selecting the tools that work best for their business," said Ken Newton, executive vice president of Banking for Wolters Kluwer Financial Services. "Now even more financial organizations have the opportunity to take an enterprise-wide approach to compliance with Expere IE."
Newton added that taking that centralized approach allows financial organizations to manage risk more effectively and efficiently, which also helps them get products to market more quickly. "And that means Expere IE can help make financial organizations product innovators to their customers," said Newton.
Expere IE helps financial organizations take a central approach to compliance through three unique components:
- An XML-based repository of Wolters Kluwer Financial Services' industry-leading compliance content from VMP and Bankers Systems (language, rules, data elements), used to generate dynamic and static documents. When data is added, deleted, or changed in the repository, appropriate updates are automatically made to all of the documents - allowing an institution to use a single document library instead of multiple ones;
- A run-time engine that integrates a financial organization's front-end loan origination systems to select, assemble, package and deliver compliance documentation; and
- Tools that enable a financial organization to manage, create, test and deploy dynamic and static content specific to its own needs.