Winona National Bank Chooses Wolters Kluwer Financial Services’ OneFile Solution

Wolters Kluwer Financial Services announced today that Winona National Bank of Winona, Minn. has selected OneFile, the company’s web-based mortgage processing solution. OneFile allowed Winona National to replace its paper-based origination process, helping the bank improve productivity, lower costs, grow its portfolio and improve its borrowers’ customer experience.

According to Julie Finnestad, senior vice president and CIO for the bank, OneFile helps boost efficiency and collaboration within Winona National’s mortgage processing team. The solution allows the team to create a single electronic loan file for each of its borrowers. That provides everyone in the origination process at the bank with simultaneous access to the file and documents wherever and whenever they need it.

"That means faster loan reviews and closing times, which supports our focus on good customer service,” said Finnestad. "OneFile also adds tremendous value in other areas such as disaster recovery, not to mention handling security of customer data.”

OneFile offers Winona National a virtual file solution that has pre-built mortgage workflow options, embedded document capture functions, and document review features that help enforce compliance with the bank’s processing and underwriting guidelines. These features allowed the bank to implement the solution with minimal operational risk in weeks, versus the months or even years it might have taken to build a similar solution.

"OneFile is a solution that was built for financial institutions by financial institutions,” said Jason Marx, vice president and general manager, Wolters Kluwer Financial Services. "They were instrumental in its development and we’ll continue to build out and further enhance OneFile based on their specific business, lending and compliance needs.”

For more information on OneFile, including a webcast demonstration, visit www.OneFileNow.com.

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services is a comprehensive regulatory compliance and risk management business that helps financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include: ARC Logics for Financial Services, PCi, Compliance Resource Network, Bankers Systems, VMP® Mortgage Solutions, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services supports its global customers with offices in the U.S., U.K., Germany, and Hong Kong. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2009) €3.4 billion ($4.8 billion) and approximately 19,300 employees worldwide. Please visit our website for more information.