Celtic Bank Selects Wolters Kluwer Financial Services for Straight-Through Processing Capability

Minneapolis, MN - 23 March 2015

ComplianceOne, CASH Suite™ Offerings Will Benefit Bank’s Commercial Lending Program 

Celtic Bank of Salt Lake City, Utah has selected two Wolters Kluwer Financial Services systems that together will enable it to achieve straight-through processing for the bank’s commercial lending activities. Celtic Bank selected the financial analytics bundle of CASH™ Suite, an enterprise-wide financial analysis and credit risk management solution for commercial lenders, as well as the ComplianceOne®solution for loan document origination preparation.

According to Celtic Bank, the growth opportunities in the commercial lending space necessitated moving toward a more advanced technology solution.

“We were attracted to the comprehensive underwriting and credit analysis capabilities of the CASH Suite, which are much deeper than the previous system we used,” said Celtic Bank President Wade Newman. “And ComplianceOne will complement those activities, helping eliminate redundancies in entering transaction data, reducing the amount of paperwork in loan and deposit transactions, and creating a more effective, integrated approach for the complete origination process.”

“Today, commercial lenders face challenges ranging from increased regulatory compliance and resource constraints to a lack of integrated systems and processes,” said Michael Fuchs, director, Commercial Lending, Wolters Kluwer Financial Services. “Straight-through processing can bring order to that chaos, providing lenders with an integrated system to link activities, eliminate redundant data entry, reduce error rates, streamline workflow processes, and accelerate profitability.”

The financial analytics bundle of CASH Suite includes the Insight, CRE, OnTrack, Bridge and CASH Doc modules and provides a bank with deep and comprehensive financial analyses on its commercial loans for both new loans and annual reviews. ComplianceOne is highly configurable and can be used as a stand-alone system or in conjunction with other Wolters Kluwer Financial Services solutions. Visit the CASH™ Suite and ComplianceOnewebsites for more information.

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