Wolters Kluwer Launches Deposit and IRA Document Suite for Credit Unions

Regulation and Compliance ManagmentFinancial ServicesNews

By AIT News Desk On May 3, 2021

Offering provides one-stop shop for IRA, deposit content needs

Wolters Kluwer Compliance Solutions has launched the Deposit and IRA Document Suite (DIDS), an offering that is tailored for credit unions. The Suite features a full library of deposit and IRA (individual retirement account) banking documents, with access to both tailored and static content, including IRA amendments, and unlimited rights to warrantied deposit disclosure language. This content is available in paper or electronic formats.

“By leveraging the Wolters Kluwer team of compliance experts through this solution, users gain the security and confidence in knowing their IRA and deposit documents are consistent and compliant for their members.”

The Suite allows credit unions to monitor and adapt content for use at the federal, state and local levels, providing consistent and universal disclosure language. A compliance editor capability provides users with guidance in developing customized text for deposit disclosures.

Recommended AI News: Qumulo Announces Native Support for Amazon Nimble Studio

“Trying to remain competitive, while managing increasingly unpredictable risks, regulations, trends, and consumer demands, is a challenge for many credit unions as they work to serve their members. And in the rapidly evolving financial services environment, where change in financial regulations is a constant, understanding the impact of those changes is critical to success,” said Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions.

“Our DIDS solution frees credit unions from having to create their own disclosures—while continually monitoring for changes across multiple jurisdictions,” he added. “By leveraging the Wolters Kluwer team of compliance experts through this solution, users gain the security and confidence in knowing their IRA and deposit documents are consistent and compliant for their members.”

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

Wolters Kluwer’s GRC division provides an array of expert solutions to help U.S. financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ OneSumX® for Regulatory Change Management helps financial institutions effectively manage the enormous breadth, scope and volume of ever-evolving legislative and regulatory changes, providing structured, actionable content to help ensure compliance. Wolters Kluwer Lien Solutions’ iLien Motor Vehicle solution provides for the processing and management of motor vehicle titles and liens, helping solve the most unique and complicated challenges in title perfection. In addition, CT Corporation’s Covid-19 resource center provides businesses and law firms with pandemic-related international, federal and state legislative updates.