CorporateInvestorsJanuary 03, 2014

Wolters Kluwer Financial Services acquires Financial Tools

Addition of Financial Tools enables Wolters Kluwer Financial Services to provide U.S. community and regional banks and credit unions with the ability to manage financial performance and grow profitability with straight through processing.

Wolters Kluwer Financial Services today announced it has acquired Financial Tools, Inc., the provider of CASH Suite™—an enterprise-wide financial analysis and credit risk management solution for U.S. commercial lenders.

The addition of Financial Tools enables Wolters Kluwer Financial Services to provide U.S. community and regional banks and credit unions with the ability to manage financial performance and grow profitability with straight through processing across their commercial loan origination, servicing and regulatory reporting processes. Together, the two companies will build upon their shared commercial lending and risk management expertise to help financial institutions accelerate commercial loan origination, increase efficiency in loan servicing and achieve regulatory compliance.

Commercial lending has emerged as one of the few business areas in which financial institutions can grow revenue profitably in today’s marketplace. In the past two years, commercial loans held by FDIC-insured financial institutions increased by $330 billion. However, taking advantage of this opportunity presents institutions with numerous challenges, including higher transaction volumes and narrower margins, fewer in-house resources and intensified regulatory scrutiny.

“The addition of Financial Tools enables us to offer commercial lenders the comprehensive solutions they need to drive commercial lending growth,” said Brian Longe, CEO for Wolters Kluwer’s Financial & Compliance Services division. “With access to the critical data they need, when they need it, lenders can improve performance with straight through processing and more effectively manage risk at the transactional level. And we’ll help them use that same data to obtain enterprise-level views of their customer bases and businesses thereby enhancing long-term profitability.”

More than 600 U.S. banks and credit unions utilize Financial Tools’ CASH Suite. These solutions enable institutions to automate and streamline tasks like business development, financial analysis, risk management and pricing, credit communications and approvals, covenant compliance tracking, portfolio management, stress testing and in-depth reporting. Wolters Kluwer Financial Services’ proficient origination and workflow capabilities and built-in compliance content in the ComplianceOne® loan and deposit origination solution will be fully-integrated with the comprehensive commercial lending capabilities of CASH Suite.

“Joining Wolters Kluwer Financial Services means that our customers will have access to a broader array of risk management and business workflow solutions,” said Dave Kampff, president and CEO of Financial Tools. “Together, we’ll be able to meet the complex, changing needs of commercial lenders now and as their organizations grow.”

Kampff and all of Financial Tools’ 30 employees have joined Wolters Kluwer Financial Services. Terms of the deal are not being disclosed.

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.

Forward-looking statements and other important legal information
This report contains forward-looking statements. These statements may be identified by words such as “expect”, “should”, “could”, “shall” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Annemarije Dérogée-Pikaar
Annemarije Dérogée - Pikaar
Director, Corporate Affairs & Communications
Global Branding & Communications
Paul Lyon
Paul Lyon
Director of Global Corporate Communications - Banking & Regulatory Compliance
Global Marketing, Communications & Planning
Governance, Risk & Compliance Division
Meg Geldens
Meg Geldens
Vice President, Investor Relations
Investor Relations