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Press ReleaseWolters Kluwer Financial Services Reaches Agreement to Transition Document Processing Systems Customers Onto Wolters Kluwer Financial Services Document Services Platform
MINNEAPOLIS – Oct. 6, 2008 –Wolters Kluwer Financial Services announced today that it has reached an agreement with Document Processing Systems, Inc. (DPS) to transition DPS’ customers onto the Wolters Kluwer Financial Services Document Services Platform. DPS, founded more than 25 years ago in Novi, Mich., provides mortgage lenders and brokers with document preparation services through the company’s DIRECT-DOCS ® online technology platform. The company recently announced that it was exiting the document preparation services business. Under the terms of the agreement, DPS will work with Wolters Kluwer Financial Services to help migrate customers over to Wolters Kluwer Financial Services Document Services Platform. The platform is the mortgage industry’s most robust document preparation and e-delivery system and can interface to most other providers’ Loan Origination Systems. Former DPS customers will also have access to Wolters Kluwer Financial Services’ other industry-leading mortgage compliance solutions, including Disclosure Manager, Secure Document Exchange (SDX) and the company’s print forms. “Former DPS customers will be in good hands with Wolters Kluwer Financial Services,” said Richard E. Chapin, DPS chief executive officer. “Wolters Kluwer Financial Services provides the mortgage industry with technology solutions that help lenders and brokers make the documentation process easier, faster and more accurate. Wolters Kluwer Financial Services’ more than 50 years of industry experience and regulatory expertise, drawn through its leading Bankers Systems, Desert Document Services, VMP Mortgage Solutions and PCi brands, will give these customers peace of mind from a compliance standpoint.” “In this tough economic environment, mortgage lenders need to be certain the service providers they’re working with have the financial strength and backing necessary to provide long-term, industry leading compliance services,” said Brian Longe, president and CEO of Wolters Kluwer Financial Services. Longe added that Wolters Kluwer Financial Services has made substantial investments in the mortgage industry through several acquisitions and compliance technology innovations over the course of the past few years. “You can be certain we’ll continue to invest in the future, striving to help lenders utilize technology in ways that allow them to grow their businesses and integrate compliance into their workflow.” Wolters Kluwer Financial Services compliance technology, analytics and content solutions support more of a mortgage lender’s transaction types across all their business channels and throughout the credit creation life cycle than any other compliance and technology services provider. The company’s solutions and services help mortgage professionals reduce regulatory compliance and operational risk, improve operational efficiencies, increase speed to market and grow revenue by closing loans more quickly and efficiently. In 2007, Mortgage Technology magazine gave the company its 10X Award, for having “an exponential impact on the mortgage industry.” For more information on Wolters Kluwer Financial Services comprehensive line of mortgage solutions and services, please visit the company’s Web site. About Wolters Kluwer Financial ServicesWolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, GulfPak, Desert Document Services®, AppOne®, GainsKeeper®, Capital Changes, NILS and AuthenticWeb™. Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and workflow tools, documentation, analytics, authoritative information and professional services. Customers include banks, credit unions, mortgage lenders and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com. olters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America, and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Visit www.WoltersKluwer.com for information about our market positions, customers, brands and organization.
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Jennifer Marso Director of Corporate Communications for Wolters Kluwer Financial Services 612.852.7912 Email Jennifer On Twitter: @JenniferMarso Charles Miller Senior Public Relations Specialist Banking, Mortgage, and Credit Unions 320.240.5457 Email Charles On Twitter: @CharlesWMiller Angela Peterson Senior Public Relations Specialist Securities, Insurance, and Indirect Lending 612.656.7745 Email Angela On Twitter: @AngiePeterson |