Online Applications (OLA) empowers community banks and credit unions to provide a new digital sales channel to reach new customers, and to grow loan volume, all without the overhead of additional branches. OLA enables lenders to accept applications without requiring customers to physically enter a branch. Completion of applications online vastly reduces lenders’ manual data entry, cuts overhead and streamlines lending processes.
The module offers enhanced functionality for lenders when combined with ComplianceOne, an industry-leading loan origination and processing system that helps lenders optimize their loan and document preparation processes in a secure, fast, and cost-effective manner.
OLA also offers these advantages when combined with Vanceo Mortgage, a loan processing and origination workflow tool that helps lenders enhance their loan origination processes. Vanceo was launched in October 2018 and is designed to assign role-based tasks and enhance visibility for an institution’s mortgage lending operations and compliance management.
“Online Applications is our flagship product commitment in providing community banks and credit unions with best-in-class digital solutions,” says Samir Agarwal, Vice President, Wolters Kluwer Governance, Risk & Compliance Banking Solutions. “This innovative offering enables community banks and credit unions to foster growth at their own pace, meet consumer demands for more convenience, and help level the market competition with larger asset-sized institutions.”
