The Farmers & Merchants State Bank of Argonia has selected Wolters Kluwer Financial Services’ ComplianceOne solution to process lending and deposit transactions, and to comply with all federal and state regulations.
ComplianceOne is an integrated documentation solution that connects the major areas of a financial institution’s business, including deposit, lending, Individual Retirement Accounts (IRAs) and administration, to its core processor through one user interface.
According to Wolters Kluwer, ComplianceOne’s auto-selection feature helps Farmers & Merchants to automatically select and complete the documents it needs to be in compliance for all lending and deposit transactions.
The solution also offers institutions integrated access to many of Wolters Kluwer Financial Services’ Wiz compliance analytics tools.
Farmers & Merchants lending branch manager Robin Luckner said that ComplianceOne allows the bank to rapidly create a complete lending or deposit document package from a compliance, workflow and data perspective.
“ComplianceOne offers us enterprise-wide access to their information once it is entered into the platform. That helps us to eliminate redundant data entry, reduce input errors and decrease processing time,” Luckner said.