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Press Release
Wolters Kluwer Financial Services Enhances TSoftPlus SBA Lending Solution
MINNEAPOLIS – Aug. 24, 2011 – Wolters Kluwer Financial Services announced today the company has released the latest version of its TSoftPlus™ Small Business Administration (SBA) lending solution. More than 400 financial institutions, including small and large banks and credit unions, utilize Wolters Kluwer Financial Services' easy-to-use technology that helps them efficiently prepare complete and compliant SBA applications.
This latest release now allows users to import and export XML files to facilitate file sharing with external SBA packagers. This facilitates sharing work product for banks that use external packagers to produce some or all of the SBA application. The latest version of the solution also includes various document changes required by the SBA. It also includes features requested by users such as the ability to copy transactions and import data from the legacy TSoft SBA FormMaster+ product all to improve efficiency.
In addition, the solution now features financial analysis improvements including adding individuals to global cash flow to meet the SBA's most stringent requirements for determining eligibility; line item exceptions on automatic calculations of proforma revenue and expenses providing more control over the analysis; and the ability to lock the worksheet to protect it from changes by unauthorized users. Wolters Kluwer Financial Services plans more releases for TSoftPlus during 2011.
“Wolters Kluwer Financial Services continues to make the SBA loan origination process faster and more compliant with enhancements to TSoftPlus,” said Michael Fuchs, director of Commercial Lending for the company. “Small business lenders can rest assured that we'll stay ahead of regulatory and marketplace developments to help them address their evolving compliance and workflow needs.”
TSoftPlus offers institutions a browser-based user interface that is easy to navigate. It can be accessed via a bank or credit union's intranet and is fully-scalable for single or multiple organizations. Because it is browser-based, the solution does not require additional installations or updates on each workstation when new versions are released. And because the bank or credit union hosts the software and all borrower data on its own Intranet, it controls the security of this information.
The TSoftPlus solution also utilizes Wolters Kluwer Financial Services' automatic document selection technology to produce easy-to-use, PDF loan files for e-mail, printing and submission to the SBA. The solution can fully integrate with the SBA's Authorization Wizards using Microsoft Word®, which allows banks and credit unions to submit loan applications and receive approvals through the SBA's E-Tran system. In addition, banks and credit unions can also perform financial analysis in Microsoft Excel, which is integrated within the solution.
