Minneapolis (January 3, 2014) - Wolters Kluwer Financial Services today
announced it has acquired Financial Tools, Inc., the provider of CASH Suite(TM)-
an enterprise-wide financial analysis and credit risk management solution for
U.S. commercial lenders.
The addition of Financial Tools enables Wolters Kluwer Financial Services to
provide U.S. community and regional banks and credit unions with the ability to
manage financial performance and grow profitability with straight through
processing across their commercial loan origination, servicing and regulatory
reporting processes. Together, the two companies will build upon their shared
commercial lending and risk management expertise to help financial institutions
accelerate commercial loan origination, increase efficiency in loan servicing
and achieve regulatory compliance.
Commercial lending has emerged as one of the few business areas in which
financial institutions can grow revenue profitably in today's marketplace. In
the past two years, commercial loans held by FDIC-insured financial institutions
increased by $330 billion. However, taking advantage of this opportunity
presents institutions with numerous challenges, including higher transaction
volumes and narrower margins, fewer in-house resources and intensified
regulatory scrutiny.
"The addition of Financial Tools enables us to offer commercial lenders the
comprehensive solutions they need to drive commercial lending growth," said
Brian Longe, CEO for Wolters Kluwer's Financial & Compliance Services division.
"With access to the critical data they need, when they need it, lenders can
improve performance with straight through processing and more effectively manage
risk at the transactional level. And we'll help them use that same data to
obtain enterprise-level views of their customer bases and businesses thereby
enhancing long-term profitability."
More than 600 U.S. banks and credit unions utilize Financial Tools' CASH Suite.
These solutions enable institutions to automate and streamline tasks like
business development, financial analysis, risk management and pricing, credit
communications and approvals, covenant compliance tracking, portfolio
management, stress testing and in-depth reporting. Wolters Kluwer Financial
Services' proficient origination and workflow capabilities and built-in
compliance content in the ComplianceOne(®) loan and deposit origination solution
will be fully-integrated with the comprehensive commercial lending capabilities
of CASH Suite.
"Joining Wolters Kluwer Financial Services means that our customers will have
access to a broader array of risk management and business workflow solutions,"
said Dave Kampff, president and CEO of Financial Tools. "Together, we'll be able
to meet the complex, changing needs of commercial lenders now and as their
organizations grow."
Kampff and all of Financial Tools' 30 employees have joined Wolters Kluwer
Financial Services. Terms of the deal are not being disclosed.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides more than 15,000 customers worldwide
with risk management, compliance, finance and audit solutions that help them
successfully navigate regulatory complexity, optimize risk and financial
performance, and manage data to support critical decisions. With more than 30
offices in 20 countries, our prominent brands include: FRSGlobal, FinArch, ARC
Logics®, TeamMate®, Bankers Systems, VMP® Mortgage Solutions, AppOne®,
GainsKeeper®, Capital Changes, NILS®, AuthenticWeb(TM) and Uniform Forms(TM).
Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global
information services and solutions provider with annual revenues of (2012) €3.6
billion ($4.6 billion) and approximately 19,000 employees worldwide.
About Financial Tools
Since 1993, Financial Tools, Inc. has empowered more than 600 banks, credit
unions, and other financial institutions with solutions that promote efficiency,
accuracy and profitability at every step of the business lending process.
Coupled with first-class support, training and consulting services, CASH
Suite(TM)Â delivers straight-through processing for commercial lending by
streamlining tasks like business development, financial analysis, risk
management, pricing, automated credit memo preparation, covenant tracking,
portfolio management, stress testing and in depth reporting. CASH Suite reduces
operational risk and enhances long-term profitability throughout the lifetime of
the commercial loan life-cycle.
Media Media Investors/Analysts
Jennifer Marso Charles Miller Meg Geldens
Vice President of Corporate Corporate Communications Manager Vice President of
Marketing & Communications Wolters Kluwer Financial Investor Relations
Wolters Kluwer Financial Services +31 172 641 407
Services 320 240 5457 ir@wolterskluwer.com
612 852 7912 Charles.miller@wolterskluwer.com
Jennifer.marso@wolterskluwer.com On Twitter: @CharlesWMiller
On Twitter: @JenniferMarso
PDF version of Press Release:
http://hugin.info/130682/R/1752626/590935.pdf
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Source: Wolters Kluwer NV via GlobeNewswire
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