Compliance Solutions expert discusses the industry’s embrace of digital lending on industry podcast
Wolters Kluwer Compliance Solutions continues to build out its thought leadership efforts, sharing important insights on banks’ increasing adoption of digital lending capabilities in an environment that is marked by inherent tensions between embracing advanced technologies and keeping pace with regulations. The topics formed the basis of a recent HousingWire News podcast with Simon Moir, Vice President, Banking Compliance Solutions.
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“However, the greatest value is provided by a robust eVault, one that can manage all asset classes through funding, whole loan sale, and collateralization. It is critical to do it right to ensure the electronic promissory note (eNote) is both legal and enforceable.”
Commenting on the essential advantages that digital lending brings to the industry and why Wolters Kluwer has invested considerable resources in this technology—including its major acquisitions of eOriginal and IDS in the past several years—Moir pointed to a key, overriding benefit for lenders: “Our focus was about the most important document in the closing package, which is the promissory note, and that was the focus of the digital ecosystem that we created.”
“E-signature is a vital front-end component of a digital lending process,” he continued. “However, the greatest value is provided by a robust eVault, one that can manage all asset classes through funding, whole loan sale, and collateralization. It is critical to do it right to ensure the electronic promissory note (eNote) is both legal and enforceable.”
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Moir also spoke on the growing role of artificial intelligence and where it’s being utilized in the lending industry right now: “Underwriting, and any process that is being highly repeated, and that handles large amounts of data in our traditional systems, is where AI would be best applied in the industry.”
HousingWire is an influential source of news and information for the U.S. mortgage and housing markets, boasting a readership that spans lending, servicing, investments and real estate market participants as well as financial market professionals.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Financial & Corporate Compliance (FCC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business. FCC is also home to CT Corporation, the leading provider of registered agent services, incorporation services, and legal entity compliance.
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