meeting
ComplianceMarch 23, 2022

Wolters Kluwer’s Lien Solutions business named a preferred vendor of the International Factoring Association

Affiliation offers factoring organizations access to award-winning iLien suite of lien management tools

Wolters Kluwer Lien Solutions, a business line within Wolters Kluwer Compliance Solutions, has been named a Preferred Vendor of the International Factoring Association (IFA).

IFA’s Preferred Vendor Program is designed to build relationships between factor members and vendors whose products help members meet achieve their goals. Preferred vendors are subjected to a rigorous screening process and must meet IFA criteria for approval, including demonstrated industry knowledge, product and industry expertise, and a commitment to serving factoring organizations.

“Our Lien Solutions business has long recognized that factoring brings an elevated risk in lending decisions—and that managing long-term lending cycles and revolving credit lines adds levels of complexity to the lending process,” said Suzanne Konstance, Vice President and Leader of Lien Solutions. “Through our award-winning iLien for Lien Management offering, we enable real-time nationwide searches, seamless UCC filing processes, and lien management tools that help factor organizations reduce risk, which ultimately benefits the factoring industry as a whole. Our capabilities align well with the needs of IFA member companies.”

Under this preferred vendor relationship, IFA members receive 15 percent off all searches submitted via Wolters Kluwer’s iLien lien management platform. The benefit covers more than 20 different searches, both automated and manual.

The iLien platform can help factoring companies efficiently file Uniform Commercial Codes by using nationwide electronic filing or through a direct integration via Application Programming Interface (API) technology.  It helps factors set up recurring searches, where they can choose the search type and frequency depending on the risk profile of the borrower.  iLien also allows factors to monitor debtor and lien changes over time. Its lien management functionality enables factors to take advantage of advanced analytics, audit controls, automated lien continuations and other lien maintenance tools. Ultimately, these capabilities provide factors an extra layer of assurance in effectively managing and mitigating risk to their portfolios.

Headquartered in Avila Beach, California with over 425 corporate members, the International Factoring Association is the largest association of commercial finance companies in the world. Members include factoring companies, asset based lenders and other receivables finance companies. Since 1999, the International Factoring Association has provided a forum for member organizations to meet and discuss issues and concerns, share best practices, disseminate information and promote a single voice to the marketplace.

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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