Wolters Kluwer Compliance Solutions Wins Three International Business Awards

Regulation and Compliance ManagmentMachine TranslationNews

By AIT News Desk On Sep 24, 2020

Esteemed awards program showcases company’s superior product innovation, customer service

Wolters Kluwer’s Compliance Solutions business has earned three 2020 International Business Awards, including two Silver-level awards, aspart of the renowned Stevie Awards program for innovation in the below categories:

“Expere Language Translation: For Non-English-Speaking Bank Customers”

Best Artificial Intelligence/Machine Learning Solution:“Expere Language Translation: For Non-English-Speaking Bank Customers” (Silver)
Best Financial Services Solution: “Enhancing Banking Through Online Loan Applications” (Silver)
Customer Service Team of the Year: “SupportLine 2.0: Transforming the Customer Experience” (Bronze)

With these latest accolades, Compliance Solutions has won 22 industry awards for 2020 as it continues to focus on innovation and technology in solving key client issues.

“This industry recognition reflects our deep domain expertise in developing solutions that are helping transform financial institutions’ everyday workflows, processes and transactions in a manner that ultimately helps them better serve their end-customers,” said Steven Meirink, Executive Vice President and General Manager for the Compliance Solutions business. “And given the complexities that our banking clients face, from COVID disruptions to fast-paced regulatory change, our SupportLine has played a crucial role in helping clients resolve critical challenges to meet the needs of local communities across the United States. We are proud of all these achievements and of the independent validation of the value that these offerings are delivering for a wide range of clients today.”

Expere Language Translation is a learning-based, artificial intelligence translation process system that embeds within a lender’s mortgage documentation workflow. Using legal and language translation domain expertise, it provides a seamless, integrated, accurate and scalable translation capability for financial institutions’ loan origination systems, while improving the customer journey for non-English-speaking borrowers.

Online Loan Applications (OLA) leverages technology to offer borrowers a convenient, automated alternative to in-person loan application transactions. OLA provides a streamlined, intuitive interface that guides borrowers through data collection steps when applying for a mortgage, simplifying the process for lender and borrower alike.

Wolters Kluwer’s SupportLine plays a crucial role in addressing complex regulatory compliance, product, and technology inquiries from Compliance Solutions customers. Implementation of an experiential learning approach and renewed focus on enhancing the overall customer experience has significantly reduced customer escalations while increasing its customer satisfaction feedback.

Now in its 17^th year, The International Business Awards, a.k.a. “the International Stevies,” founded in 2002, are open to all organizations worldwide and include categories to honor accomplishments in all aspects of work life. The 2020 IBAs received entries from organizations in 63 nations and territories.

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 division, helps these financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflows, manage risk and other regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.