Wolters Kluwer Financial Services has released latest version of ComplianceOne, the company's integrated documentation and workflow solution.

According to the company, the newest version of ComplianceOne offers banks and credit unions an improved document template design, while also expanding the number and type of transactions supported.

The newly-designed template allows financial institutions to establish default information fields for common transactions that help reduce the potential for data entry error.

In addition, ComplianceOne now allows banks and credit unions to document two-phase loan transactions such as construction-to-permanent loans, and also finance escrow payments using the solution.

Wolters Kluwer Financial Services vice president and general manager for banking Lisa Fraga said Wolters Kluwer is listening closely to the needs of its ComplianceOne customers and enhancing the solution to meet their evolving compliance and business requirements.

"They can rest assured we’ll continue to do so in 2011, a year that promises to be full of regulatory change and risk management challenges," Fraga said.

ComplianceOne connects the major areas of a financial institution’s business to its core processor through one user interface. These areas include deposit, consumer, commercial and mortgage lending, Individual Retirement Accounts (IRAs) and administration. And the solution offers institutions integrated access to many of Wolters Kluwer Financial Services’ Wiz compliance analytics tools.