Product innovation, customer service excellence reflected in financial technology wins

Wolters Kluwer Compliance Solutions has earned nine 2021 International Business Awards, part of the esteemed Stevie Awards program, for product innovation and customer service excellence. The wins include a Gold-level award for OneSumX® for Compliance Program Management, several distinctions for the use of artificial intelligence to manage regulatory change, and an accolade for Compliance Solutions’ “My Account” customer service initiative.

OneSumX® for Compliance Program Management, which won in the “Best Governance, Risk & Compliance Solution” category, helps compliance professionals efficiently measure, monitor, and manage their compliance programs via seven fundamental offerings that feed into a central CPM interface, delivering a single view of regulatory risk that can be articulated across an entire organization. With interconnected topics such as risk and controls, tests, policies and procedures, and regulatory change, the solution provides financial institutions a common language, approach, and methodology in which all parts of one’s compliance program can intersect.

Among five Silver-level wins, Wolters Kluwer won “Best Artificial Intelligence/ Machine Learning Solution” for its OneSumX® ProViso solution; “Best Big Data Solution” for its OneSumX® for Regulatory Change Management offering; and “Best FinTech Solution” for its iLien for Lien Management product. CASH Suite™ also won Silver-level distinction in the “Best Business-to-Business Product” category, as did Expere® Language Translation for “Best FinTech Solution.”

Among other wins were Online Applications for the “Best Financial Services” category; TSoftPlus for Paycheck Protection Program under “COVID-19 Response, Most Valuable Technical Innovation;” and the successful “My Account” initiative, which won for “Best Customer Service Team of the Year.” As supported by customer testimonials shared in the award entry, My Account has noticeably enhanced the user experience and functionality of Wolters Kluwer’s proprietary customer support system, providing customers a comprehensive, real-time view of their account information with enhanced functionality to view account balances, outstanding invoices, order status, and tracking numbers for print orders.

“These impressive wins share a commonality in that they were conceived, developed and further refined with the direct input and feedback of our customers,” said Steve Meirink, Executive Vice President and General Manager, Compliance Solutions. “The result has been the delivery of expert solutions that effectively address major pain points, solving for challenges ranging from operational workflow issues and managing regulatory complexity to helping demonstrate compliance across their organizations. These latest industry accolades affirm and reinforce our purpose-driven mission to enable professionals around the world to make an impact of significance for their customers when it matters most.”

Now in its 18^th year, The International Business Awards® honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide.

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 financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal® suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication and an electronic vault. Compliance Solutions’ iLien Motor Vehicle provides for the processing and management of motor vehicle titles and liens, helping solve the most unique and complicated challenges in title perfection. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. The division’s legal solutions business are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.

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 2020 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 19,200 people worldwide.

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