Wolters Kluwer Launches iLien Borrower Analytics Technology to Improve Borrower Risk Analysis Investing.com
AI-powered solution provides lenders with fast, scalable and automated capabilities to optimize UCC searches and due diligence
MINNEAPOLIS–( BUSINESS WIRE )–Wolters Kluwer Compliance Solutions has launched iLien Borrower Analytics, an AI-based offering that helps lenders streamline related lien search and due diligence processes when onboarding borrowers. The solution analyzes UCC (Uniform Commercial Code) search documents and delivers actionable intelligence reports in a timely manner, representing the latest innovation in Wolters Kluwer (AS:) portfolio of award-winning, automated lending solutions.
We recognize that due diligence can be a challenging element to incorporate due to the very different number of documents associated with each search, he says Art Tyszkavice president and head of segment, FCC (BME:) Lien Solutions, Wolters Kluwer. Property descriptions can be inconsistent and scattered across documents. A proper lien analysis is essential to ensure that the borrower’s collateral is not already pledged to another lender. iLien Borrower Analytics is a revolutionary step in improving the loan lifecycle, enhancing due diligence and providing lenders with the key analytics needed to serve their customers and protect against default risk.
iLien Borrower Analytics collects key information about borrowers’ collateral used to secure lien positions on their commercial loans and other risk factors, in addition to public records data extracted from iLien UCC searches.
Onboarding involves a series of steps in reviewing a borrower’s existing collateral and, in the process, can leave a certain level of detail open to interpretation, Tyszka explains. Our solution helps not only automate, but regulate and scale these processes, providing users with a standardized report for each search and ensuring greater consistency in decision making at all stages of review. This approach reduces the potential for interpretive bias, helps bridge potential staff attrition and knowledge gaps, and presents lenders with a more turnkey process, reducing staff training requirements and time.
iLien Borrower Analytics generates an organized chain of submissions to display the current status of collateral and parties for active liens. Its functionality helps shift the onboarding process from an internal staff focus to a technology-driven one, helping to minimize the time-consuming and often labor-intensive review of property documents, reducing manual processes and providing lenders with actionable insights based on the intelligence gathered. from the key UCC analysis on the borrower’s assets. These insights enable lenders to make better and faster lending decisions.
Wolters Kluwer Compliance Solutions is a market-leading and trusted provider of risk management and regulatory compliance solutions and services for insurers, banks, credit unions and securities firms in the US. The job is located within Wolters Kluwer Financial & Corporate Compliance (FCC) and helps these financial institutions effectively manage their risk and regulatory compliance obligations and gain the insights they need to focus on better serving their clients and growing their business.
For more information about Wolters Kluwer, visit: www.wolterskluwer.com.
About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for healthcare professionals; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our clients make critical decisions every day by providing professional solutions which combine deep domain knowledge with technology and services.
Wolters Kluwer reported annual revenue of €5.6 billion in 2023. The group serves clients in more than 180 countries, maintains operations in more than 40 countries and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
For more information, visit www.wolterskluwer.com, follow us LinkedInFacebook (NASDAQ:), YouTube and Instagram.
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Media contact
David Feider
Assistant Director, External Communications
Financial and corporate compliance
Wolters Kluwer
Office +1 612-246-9454
david.feider@wolterskluwer.com
Source: Wolters Kluwer
