Wolters Kluwer recently launched Vanceo Mortgage, a loan processing system designed to be easy to use and create highly intelligent and compliant, end-to-end loan origination workflows. It assigns role-based tasks and enhances visibility of an institution’s mortgage lending operations and compliance management.
Vanceo Mortgage positions itself as unique to the market by taking a user-centric approach to compliance by providing lenders with intuitive dashboards and intelligence that help narrow in on critical action items, according to a press release. The new product’s functionality is geared to enable financial institutions to address potential issues earlier, faster, and strengthen customer relationships. The result is streamlined, efficient and highly intuitive compliance management for both lenders and consumers.
“Financial institutions need solutions that are more intuitive and aligned with their business processes to meet consumer and regulator expectations,” Wolters Kluwer GRC Banking Solutions Vice President Samir Agarwal said in the release. “We embarked on a journey to solve customer needs with their voice as the driver. Vanceo Mortgage delivers unprecedented value to lenders by enabling compliance, while improving their productivity, speed-to-close, and consumer experience.”
Additionally, Vanceo Mortgage is intended to eliminate the need for using multiple systems to track information on any transaction by creating both systematic and manual process checkpoints. Specifically, Vanceo Mortgage is designed to address four major needs in the industry:
- Role-based Access: Provides transaction and task information as well as actions through an at-a-glance dashboard personalized for the user and prioritized by urgency.
- Transaction Details: Allows for easy navigation to loan-level details, providing detailed notes for any transaction in progress.
- Task Details: Enables users to readily view and focus in on highest-priority tasks and actions required to keep the transaction pipeline and portfolio moving forward.
- Central Record for Loans: Features one, centralized database with easy access to address inquiries on any loan in either an open or closed state.