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ComplianceOctober 13, 2023

Three ways lien perfection can generate competitive advantage

Lien perfection’s value for any financial institution is crystal clear: with real-time visibility across the entire portfolio, reliable data on which to act, and the ability to promptly remediate issues when they arise, lien perfection provides necessary protections to safeguard portfolios. Wolters Kluwer Lien Solutions combines accuracy, speed, and service to help secure perfection and reduce risk for a wide portfolio of lien, titling, and real property documentation needs in every state.

Thinking bigger picture, a sound lien perfection strategy, backed by the right tools and processes, can boost competitiveness. Here are three top-level ways lien perfection can help positively impact your business:

  1. Improve the balance sheet
    Effective lien management can reduce the risk of non-performing loans, which, in turn, can improve the overall quality of the portfolio.
  2. Save time, costs and resources
    Streamlined, automated lien perfection operations can help cut processing time and require fewer people to manage, leading to cost savings. And financial institutions can potentially close transactions more quickly, which can be especially important in cases where a faster turnaround is needed to finalize the loan.
  3. Improve decision-making
    Broad yet detailed visibility into portfolios can give executives improved perspective on credit risk and non-performing-loan risk. And increased confidence in portfolio health frees leadership to focus on higher-value opportunities and act faster without second-guessing themselves or having to validate the data time and again.

But implementing an effective lien perfection strategy can feel daunting. That’s why we’ve created an interactive assessment that provides an overall score showing where financial institutions potentially stand in capitalizing on lien perfection best practices. You’ll see questions like…

By answering 10 simple survey questions like this, you can gain a much clearer picture of current strengths and identify opportunities for improvement. And the best part is, this improved understanding can inform and accelerate conversations with your team on where to focus your efforts.

Assess your lien perfection operations
Complete this quick assessment to find ways to improve your decision making and competitiveness. Armed with these insights, teams can prioritize initiatives, secure budget approval, and realize the benefits of a sound lien perfection strategy sooner.
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