Oconee Federal Savings and Loan has selected Wolters Kluwer’s ComplianceOne solution to help streamline its current lending processes, positioning the bank for further growth.
ComplianceOne is an origination and workflow solution that makes managing compliance with loan and deposit transactions faster and more efficient, connecting the major areas of a lender’s business operations to its core processor through one, simplified user interface.
“As we look at the lending climate ahead, it became clear that we needed to strengthen our loan origination system,” said C. Todd Latiff, Executive Vice President and Chief Banking Officer. “We interviewed several vendors and were impressed by ComplianceOne’s ability to streamline our origination process. The system is user friendly and will allow us to easily convert to ComplianceOne. We are excited to have Wolters Kluwer as a partner.”
“We anticipate that Oconee will experience notable enhancements in the speed and efficiencies of its loan and deposit processing, while improving its overall compliance risk management using ComplianceOne technology,” said Samir Agarwal, Vice President, Wolters Kluwer GRC Banking Solutions. “We welcome Oconee as part of a growing base of financial institutions leveraging the benefits that financial technologies can bring to banking.”
Oconee Federal Savings and Loan is wholly-owned subsidiary of Oconee Federal Financial Corp. (NASDAQ Capital Market: OFED), for its commercial and consumer lending businesses. Oconee Federal is headquartered in Seneca, South Carolina. The community-oriented financial institution has approximately $485 million in assets, with offices in northwest South Carolina and northeast Georgia.