Israel Discount Bank Selects Wolters Kluwer’s Compliant E-Forms Package
19 Februar 2021 - 3:00PM
Business Wire
Deposit E-Forms Expansion Module streamlines
IDB’s disclosures program
Israel Discount Bank of New York (IDB Bank) has selected Wolters
Kluwer Compliance Solutions’ Deposit E-Forms Module (DEMx)
Expansion Pack to help streamline and enhance the management of its
document disclosure practices.
Providing disclosures is a required and critical function of
U.S. banks and credit unions as part of the account opening and
servicing process. The Wolters Kluwer DEMx offering allows
financial organizations to streamline their documentation
processes, help ensure compliance with all regulatory requirements,
maximize internal resources, and reduce turnaround times.
“Given a constantly changing regulatory environment, and the
importance of maintaining compliant disclosure forms, we recognized
a need to introduce a more robust document disclosure system into
our banking platform,” said Dave Smithers, Executive Vice
President, Chief Information Officer and Chief Operations Officer,
IDB Bank. “Wolters Kluwer’s DEMx offering provides the necessary
monitoring, updating and warranty essential for maintaining
electronic, compliant disclosure forms, allowing IDB Bank to focus
on other critical components of providing our customers an enhanced
banking experience.”
The DEMx Expansion Pack enables banking institutions to tailor
disclosures to specific policies and offer them in multiple
channels and jurisdictions, providing consistent disclosure
language and delivery methods. They are available in multiple
technology formats to meet financial institutions’ platform system
requirements. Wolters Kluwer E-Forms are also the most widely used
and accepted forms on the secondary mortgage market.
“Regulators require financial institutions to maintain
disclosures that are consistent, comply with current regulations,
and are easy for consumers to understand,” said Steven Meirink,
Executive Vice President and General Manager, Wolters Kluwer
Compliance Solutions. “These customized forms allow banks and
credit unions to meet these goals, while giving their customers the
technology and formats that they want in an increasingly digital
banking world.”
Wolters Kluwer Compliance Solutions is a market leader and
trusted provider of risk management and regulatory compliance
solutions and services to U.S. banks and credit unions, insurers
and securities firms. The business, which sits within Wolters
Kluwer’s Governance, Risk & Compliance (GRC) division, helps
these financial institutions efficiently manage risk and regulatory
compliance obligations, and gain the insights needed to focus on
better serving their customers and growing their business.
Wolters Kluwer’s GRC division provides an array of expert
solutions to help U.S. financial institutions manage regulatory and
risk obligations. Wolters Kluwer Compliance Solutions’ Paycheck
Protection Program Supported by TSoftPlus™ helps U.S. lenders’
small business customers access critical stimulus funding. Wolters
Kluwer Lien Solutions’ iLien Motor Vehicle solution provides for
the processing and management of motor vehicle titles and liens,
helping solve the most unique and complicated challenges in title
perfection. In addition, CT Corporation has launched a Covid-19
resource center to provide businesses and law firms with
international, federal and state legislative updates.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer,
which provides legal and banking professionals with solutions to
help ensure compliance with ever-changing regulatory and legal
obligations, manage risk, increase efficiency, and produce better
business outcomes. GRC offers a portfolio of technology-enabled
expert services and solutions focused on legal entity compliance,
legal operations management, banking product compliance, and
banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information
services and solutions for professionals in the health, tax and
accounting, risk and compliance, finance and legal sectors. Wolters
Kluwer reported 2019 annual revenues of €4.6 billion. The company,
headquartered in Alphen aan den Rijn, the Netherlands, serves
customers in over 180 countries, maintains operations in over 40
countries and employs 19,000 people worldwide.
About IDB Bank IDB Bank® is a registered service mark of
Israel Discount Bank of New York. Member FDIC. Equal Housing
Lender. 511 Fifth Ave, New York, NY 10017 · www.idbny.com
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Paul Lyon Global Corporate Communications Director Governance,
Risk & Compliance Division Wolters Kluwer Office +44 20 3197
6586 Paul.Lyon@wolterskluwer.com
David Feider Corporate Communications Manager, Banking &
Regulatory Compliance Governance, Risk & Compliance Division
Wolters Kluwer Tel: +1 612-852-7966
David.Feider@wolterskluwer.com