Wolters Kluwer Compliance Solutions, a firm that delivers risk and compliance solutions to help businesses keep up with ever-changing norms, recently introduced the Deposit and IRA Document Suite (DIDS). It is a solution dedicatedly customized for credit unions.
The Suite includes a comprehensive library of deposit and IRA (individual retirement account) banking documents, with access to customized and static content. This includes IRA amendments and endless rights to warrantied deposit disclosure language. The content is made available in electronic and paper formats.
Additionally, the Suite facilitates credit unions to monitor and adapt content for use at the federal, state, and local levels, giving consistent and universal disclosure language. A compliance editor ability presents users with guidance in building personalized text for deposit disclosures.
Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions, mentioned, “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.”
“Our DIDS solution frees credit unions from having to create their own disclosures—while continually monitoring for changes across multiple jurisdictions.”
He continued, “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 frontrunner and most trusted name in the risk management and regulatory compliance genre. The company offers regulatory and compliance services to the US banks, securities firms, credit unions, and insurers on the business front.
It is the business that functions within the Wolters Kluwer’s Governance, Risk and amp; Compliance (GRC) division, which aids the above-mentioned financial institutions to manage risk and regulatory compliance requirements effectively. It also helps financial businesses gain vital insights to help focus on better serving their customers and drive business growth.
Wolters Kluwer’s GRC division offers a plethora of expert solutions to aid US financial institutions in taking care of regulatory and risk obligations.
Wolters Kluwer Compliance Solutions’ OneSumX for Regulatory Change Management is engineered to support financial institutions with effective management of the wide breadth, volume, and scope of the dynamic legislative and regulatory changes with actionable content and structure to ensure compliance.
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Additionally, CT Corporation’s COVID-19 resource center gives businesses and law firms pandemic-related international, federal, and state legislative updates.