Source: Wolters Kluwer
Wolters Kluwer Financial Services announced that Alliance Institutional Services, LLC, a credit union service organization (CUSO) which offers credit unions member business services, is using Wolters Kluwer Financial Services' Rembrandt Lending System to help the CUSO establish effective and compliant business lending documentation.
More than 500 U.S. credit unions now use Wolters Kluwer Financial Services' business lending documents directly or through a CUSO.
Alliance, located in Paducah, Kentucky, offers owner or non-owner credit unions a wide range of business lending, deposit and consulting services. The CUSO originally formed by C-Plant Federal Credit Union of Paducah, plans to expand its ownership to 5 or 6 credit unions in the next 90 days, expanding the asset base behind Alliance to well over $1 billion.
"Rembrandt is a big piece of our plan for the future," said Travis Clem, Alliance's president. "Part of Alliance's strategy is to leverage the use of technologies such as Rembrandt to become more operationally efficient as we expand our ownership, clientele and business. Doing so means we can not only keep costs down for our owner and non-owner credit unions but also offer them a greater variety of products and services that meet their individual needs"
Clem went on to say that Rembrandt Lending, which can help financial institutions remain compliant in all 51 U.S. jurisdictions was better suited for Alliance's growth plan than any other documentation software the CUSO evaluated.
"We ran a hypothetical scenario where Alliance would grow to include 20 client credit unions in the next 3 years and Rembrandt won hands down in terms of the flexibility of adding new members and its pricing structure as we expand," said Clem. "And from a compliance standpoint, Rembrandt takes the worry away when documenting complex business lending transactions."
Clem added that as Alliance expands into Small Business Administration (SBA) lending, the CUSO plans to use Wolters Kluwer Financial Services SBA lending software, TSoft SBA FormMaster+.
The Rembrandt Lending solution is built upon the regulatory content, industry knowledge, and decades of experience of Wolters Kluwer Financial Services' Bankers Systems brand. Financial organizations, regulators and examiners have associated the Bankers Systems name with leading compliance and operational risk management solutions for decades.