Wolters Kluwer Financial Services has revealed that CapitalSource Bank, a wholly-owned subsidiary of CapitalSource, has selected its deposit account-opening disclosures and its online account-opening agreements for use with its customers.
According to Chad Gordon, assistant vice president of retail banking operations of the bank, both the disclosures and the agreements are providing the financial institution with the assurance it can comply with all applicable regulatory requirements while saving time and money.
Mr Gordon said: “We’re extremely confident from a compliance standpoint that all of the information within the documents is up-to-date. We knew Wolters Kluwer Financial Services would get the job done quickly and efficiently, allowing us to focus internal resources on other initiatives.”
Gordon added that Wolters Kluwer Financial Services is responsive in updating the disclosures and agreements, providing the bank with fast updates to compliance content and other information when needed from a regulatory or marketing standpoint.
Lisa Fraga, vice president and general manager of banking content at Wolters Kluwer Financial Services, said: “The current bank regulatory landscape is changing by the day and financial institutions are genuinely concerned about their ability to stay on top of it all.
“The attorneys and compliance analysts, many of whom are former bankers and regulators, at Wolters Kluwer Financial Services have the experience and knowledge necessary to help our customers rapidly respond to regulatory change. That allows them to spend less time on compliance and more on growing revenue through meeting their customers’ needs.”
