SOURCE: BancVue

BancVue

February 01, 2011 17:32 ET

BancVue and Wolters Kluwer Financial Services Offer a First-of-Its-Kind Compliance Warranty for Online Account Opening

AUSTIN, TX and MINNEAPOLIS, MN--(Marketwire - February 1, 2011) - BancVue (http://www.bancvue.com/), the leading provider of innovative products, dynamic marketing, and data-driven consulting solutions to community financial institutions around the country, announced today it has joined with Wolters Kluwer Financial Services (http://www.wolterskluwerfs.com/) to help community banks and credit unions grow their overall customer and membership base.

BancVue and Wolters Kluwer Financial Services are offering a first-of-its-kind compliance warranty for online account opening to mitigate risk for community banks and credit unions who desire to do business online. Wolters Kluwer Financial Services has reviewed BancVue's INMO application workflow and has established guidelines with BancVue so that it can offer a first-of-its-kind compliance warranty on the electronic delivery of Wolters Kluwer Financial Services' compliance content through INMO. BancVue plans to begin implementing the Wolters Kluwer Financial Services' Bankers Systems compliance content, which financial institutions have trusted for more than 50 years, into its INMO online deposit account opening solution starting February 1, 2011.

Offering consumers online access to checking and savings accounts has never been more important for community banks and credit unions. According to estimates from Javelin Strategy and Research, 25 percent of all checking accounts in the country today are applied for online.

"Community banks and credit unions need to be able to quickly and compliantly open deposit accounts online if they are to succeed in today's competitive financial services marketplace," said Gabriel Krajicek, chief executive officer of BancVue. "Who better to partner with than Wolters Kluwer Financial Services to help our clients make sure meeting regulatory requirements doesn't stand in the way of growing their businesses."

BancVue's INMO solution allows customers to apply for deposit accounts online 24 hours a day, seven days a week. The INMO Solution makes it easy for financial institutions to securely receive applications online. Identification verification, applicant screening, account funding, and funding account verification are expedited within minutes from multiple enrollment channels, including the Web, branches, call centers, and kiosks.

"In today's rapidly evolving regulatory environment, deposit account requirements can change at the drop of a hat," said Lisa Fraga, vice president and general manager of Banking for Wolters Kluwer Financial Services. "Community banks and credit unions accessing our compliance content through BancVue's INMO system can rest assured they will be up to date in meeting regulatory obligations for the online application process."

For more information, please visit www.BancVue.com or www.wolterskluwerfs.com.

About BancVue
BancVue (http://www.bancvue.com/) is the leading provider of innovative products, world-class marketing, and data-driven consulting solutions to community financial institutions across the U.S. Featuring offerings like Kasasa®, a national brand of superior products and marketing scale, BancVue products are designed to deliver controlled new account growth, higher profitability, and increased customer retention. Today serving nearly 1300 community banks and credit unions around the country, BancVue is empowering its clients to compete in and win the war against megabanks.

About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services is a comprehensive regulatory compliance and risk management business that helps financial organizations manage operational, compliance and financial risk, and reporting, and improve efficiency and effectiveness across their enterprise. The organization's prominent brands include FRSGlobal, ARC Logics for Financial Services, PCi, Compliance Resource Network, Bankers Systems, VMP® Mortgage Solutions, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™, and Uniform Forms™. Wolters Kluwer Financial Services supports its global customers with offices in more than 20 countries and is the world's largest compliance and risk management business focused on financial services, with more than 15,000 banking, insurance, and securities customers across the globe. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2009) EUR 3.4 billion ($4.8 billion) and approximately 19,300 employees worldwide. Please visit www.wolterskluwerfs.com for more information.

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