Disclosure management doesn’t have to be a compliance headache. Here’s how leading financial institutions are modernizing their approach.
Managing deposit disclosures is a critical part of account opening and servicing—but it’s also an area ripe for innovation. With evolving regulations, digital transformation, and rising expectations, many banks and credit unions are rethinking how they handle disclosures.
Here are six practical strategies to make your deposit disclosure process more efficient, accurate, and account holder-friendly.
1. Customize Disclosures by Account Type
Not all accounts are the same—so their disclosures shouldn’t be either. Tailoring content for consumer versus commercial accounts ensures relevance, improves clarity, and enhances the overall experience.
2. Eliminate Checkboxes and Blank Lines
Generic forms with checkboxes and blank spaces can appear outdated. Modern institutions are adopting tailored, professional-looking disclosures that reflect their brand and reduce manual input errors, while also reducing length and minimizing risk of over disclosing
3. Deliver Disclosures Across Multiple Channels
Potential account holders expect flexibility. Whether it’s online account opening, mobile banking, or website access, offering consistent disclosures across multiple digital channels ensures convenience and accessibility.
4. Support Mergers and Acquisitions with Scalable Tools
M&A activity often requires rapid disclosure updates for new account holders. Scalable systems allow institutions to quickly generate and distribute compliant disclosures—ensuring a smooth transition and regulatory alignment.
5. Respond Quickly to Regulatory Changes
When regulations shift, redisclosure can be a massive and expensive undertaking. Agile institutions take advantage of expanded licensing rights to redistribute disclosures efficiently, minimizing disruption and maintaining compliance.
6. Ensure Business Continuity with Flexible Formats
System outages shouldn’t halt your disclosure process. Institutions are adopting flexible formats that allow disclosures to be emailed, stored locally, or accessed offline—ensuring continuity even during disruptions.
A Smarter Way Forward
These strategies are helping financial institutions modernize their disclosure practices, reduce risk, and improve engagement. If you're looking for a solution that brings these capabilities together, consider exploring the Deposit E-Forms Module Expansion Package (DEMx) from Wolters Kluwer—a trusted tool designed to work in conjunction with our Deposit and IRA E-Forms Modules to support tailored, compliant, and multi-channel disclosures. Backed by a team of compliance editors and experts, Wolters Kluwer ensures content is aligned with evolving regulatory requirements and tailored to your institution’s specific needs.
Want to Learn More?
Contact us to see how DEMx can help streamline your disclosure management process.
