AI-powered solution provides lenders with fast, scalable, and automated capabilities for optimizing UCC searches and lien due diligence

MINNEAPOLIS–(BUSINESS WIRE)–Wolters Kluwer Compliance Solutions has launched iLien Borrower Analytics, an AI-powered offering that helps lenders streamline related lien search and due diligence onboarding processes of borrowers. The solution analyzes UCC (Uniform Commercial Code) search documents and delivers actionable intelligence reports in a timely, compliant manner, representing the latest innovation in Wolters Kluwer (AS:)’s portfolio of award-winning, automated lending solutions.

We recognize that due diligence can be a challenging element to onboard due to the highly variable number of documents associated with each search, as Art TyszkaVice President and Segment Leader, FCC (BME:) Lien Solutions, Wolters Kluwer. Asset descriptions can be inconsistent and scattered across documents. A proper lien analysis is important to help ensure that a debtor’s collateral has not been pledged to another creditor. iLien Borrower Analytics is a revolutionary step in improving the loan lifecycle, improving due diligence review, and delivering lenders the critical analysis needed to serve their customers and protect against default risk.

iLien Borrower Analytics compiles critical information about a borrower’s collateral assets used to secure their commercial loans’ lien positions, and other risk factors, in addition to public records that data retrieved from his iLien UCC search.

Onboarding involves several steps to review a borrower’s existing collateral and, in the process, can leave a level of detail open to interpretation, Tyszka explained. Our solution helps not only to automate but to regulate and scale these processes, providing users with a standardized report for each search and ensuring more consistency in decision making at all review stages. . This approach reduces the opportunity for interpretative bias, helps bridge potential staff attrition and knowledge gaps, and presents lenders with a more turnkey process, reducing training needs in staff and time.

iLien Borrower Analytics creates an organized chain of filings to show the current status of collateral assets and parties for active liens. Its functionality helps shift the onboarding process from an internal staff focus to a technology-driven one, helping to reduce the time-consuming and often labor-intensive review of asset documents, reducing manual processes and providing lenders with actionable insights based on the intelligence gained. from the UCC’s key analysis regarding the borrower’s assets. Those insights allow lenders to make better and faster lending decisions.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to US insurers, banks, credit unions, and securities companies. The business is within the Wolters Kluwer Financial & Corporate Compliance (FCC) division and helps these financial institutions effectively manage risk and regulatory compliance obligations, and gain the insights needed to target greater serving their customers well and growing their business.

For more information about Wolters Kluwer, please visit: www.wolterskluwer.com.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for healthcare professionals; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make important decisions every day by giving expert solutions which combines deep domain knowledge of technology and services.

Wolters Kluwer reports 2023 annual revenue of €5.6 billion. The group serves customers in more than 180 countries, maintains operations in more than 40 countries, and employs approximately 21,400 people worldwide. The company is located in Alphen aan den Rijn, Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedInFacebook (NASDAQ:), YouTube and Instagram.

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Media Contact
David Feder
Associate Director, External Communications
Financial and Corporate Compliance
Wolters Kluwer
Office +1 612-246-9454
[email protected]

Source: Wolters Kluwer