Grow Financial Credit Union, a Tampa, Florida-based federal credit union, as per recent press reports, has chosen Wolters Kluwer, a Netherlands-based information service provider, for their ComplianceOne Lending and CASH Suite solutions. The federal credit union will be leveraging Wolters Kluwer’s lending and CASH Suite solutions to enable its commercial lending processes and compliance risk management all across the union’s 26 branches spread across the states of Florida & South Carolina.
The ComplianceOne Suite is expected to make compliance management with lending transactions much faster and far more efficient, allowing a single interface connection for credit union’s business operations with its core processor.
Furthermore, with CASH Suite integration, Grow Financial expects to gain a bird’s eye view over its commercial loan processing services, allowing easy measurement of workflow performance to maximize employee and operational efficiency.
“As we looked at the lending climate ahead coupled with our continued expansion into commercial lending, it became clear that we needed to gain more control over our commercial lending workflow processes,” comments Joe Rosado, SVP, real estate lending and business solutions at Grow Financial Credit Union.
Samir Agarwal, vice president of banking solutions in Wolters Kluwer’s Compliance Solutions business, says: “As the market continues to embrace the use of financial technologies, credit unions and other financial institutions that implement a workflow solution will find themselves at a significant advantage.”