Wolters Kluwer Financial Services today announced that First Bancorp of Durango, Inc., based in Inverness, Ill., has selected the five-module financial analytics bundle of CASH™ Suite, an enterprise-wide financial analysis and credit risk management solution. First Bancorp is the holding company for the Bank of New Mexico in Grants, NM as well as First National Bank of Durango in Durango, Colo. Both banks will employ the CASH analytics bundle to help them achieve straight-through processing for their commercial lending businesses.
“Our desire to continue growing in the commercial lending space meant moving toward a more advanced and cohesive technology solution,” says First Bancorp’s Melissa Zureich, chief credit officer. “These tools will help align our underwriting and origination activities for both of our banks, along with document preparation and compliance. And they will enhance our ability to provide straight-through processing through further automation and streamlining of our commercial loan origination processes.”
The financial analytics bundle of CASH Suite includes the Insight, CRE, OnTrack, Bridge and CASH Doc modules and provides a bank with deep and comprehensive financial analyses on its commercial loans for both new loans and annual reviews. Visit the CASH™ Suite and ComplianceOne websites for more information.
Wolters Kluwer Financial Services provides customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, AuthenticWeb™, Bankers Systems®, Capital Changes, CASH Suite™, GainsKeeper®, NILS®, OneSumX®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2014 annual revenues of €3.7 billion, employs 19,000 employees worldwide, and serves customers in over 170 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.