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ComplianceFebruary 07, 2022

Wolters Kluwer and Summit Technology Group collaborate to power end-to-end lending solution

Product integration helps assure compliant banking disclosures, commercial lending transactions

Wolters Kluwer Compliance Solutions and Summit Technology Group (STG), a leading provider of lending solutions to community banks and credit unions, are collaborating to enhance compliant lending documents and workflows for STG customers.  Wolters Kluwer is now an exclusive preferred vendor partner, helping power STG’s Lenders Cooperative platform through Wolters Kluwer’s authoritative Expere® technology. This capability automates the creation of commercial and SBA-compliant loan documents to support STG’s regulatory compliance obligations and provide a seamless solution for STG customers.

STG’s lending solutions and Wolters Kluwer’s Expere offering together enable financial institutions to automate an end-to-end document creation process, including the ability to generate, electronically sign, notarize, and electronically record in participating jurisdictions across the United States. 

“We are excited to work with a growing firm like STG to help support their innovation while operating in a safe, secure and compliant manner,” said Steve Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “With regulatory scrutiny and oversight anticipated well into the future, our robust team of legal and compliance experts will continue to monitor and update our compliance content. Our Expere technology is integral to that objective. Financial institutions working with STG and its Lenders Cooperative platform will benefit from this collaboration, providing them the confidence to know that their disclosures are compliant and meet regulatory obligations.”

Expere® is a centralized compliance document system that seamlessly serves multiple lines of business and channels, providing a complete set of tools for creating, managing, integrating, testing and deploying documents. Its dynamic content enhances lenders’ document management libraries, consolidating custom documents with shared language into a single dynamic document with rules to support the generation of unique differences. This capability leaves fewer documents to manage overall—and the ability for lenders to change and test common content across multiple static forms just once.

“By leveraging STG’s Lenders Cooperative Platform with Wolters Kluwer compliant content, our banks and credit unions can maintain confidence in automating their lending flow and improving the end-to-end borrower experience,” said Ben Wallace, Chief Executive Officer of STG. “No longer will our clients need to depend on legacy document generation technology that requires manual manipulation and may not cleanly map into downstream systems. This technology is critical for our financial institution clients looking to scale and support their business customers.”

Summit Technology Group (STG), whose investors have included the American Bankers Association, is focused on helping community and regional financial institutions modernize their lending solutions and internal workflow processes. STG supports over 200 community institutions in their efforts to modernize delivery of financial services.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. insurers, banks and credit unions, 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.

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.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.

Contacts
Paul Lyon
Paul Lyon

Senior Global Corporate Communications Director: Global Marketing, Communications & Planning

Governance, Risk & Compliance Division
David Feider
David Feider
Corporate Communications Manager, Banking & Regulatory Compliance
Governance, Risk & Compliance Division
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