Compliance Solutions’ “My Account” initiative helps streamline, simplify complex customer issues

Wolters Kluwer Compliance Solutions has been honored for its customer service initiative, “My Account,” earning a Gold-level distinction by the Globee Awards in its 8^th Annual Customer Sales & Service World Awards. My Account was named “Front-Line Customer Service & Support Team of the Year” for excellence in enhancing the user experience and improving the functionality of Compliance Solutions’ proprietary customer support system.

The upgraded My Account platform provides customers a comprehensive, real-time view of their account information with enhanced functionality to view account balances, outstanding invoices, order status, and tracking numbers for print orders. Among the numerous technology build-outs, the real-time invoice review capability eliminates overnight delays for customers managing time-sensitive billing issues and expands invoicing to multiple recipient lines of business to address more complex processes.

“Financial institutions are responsible for a multitude of challenging issues in their everyday work, from navigating complex and ever-evolving regulatory requirements to managing the development of compliant, customized disclosure forms that are used in lending and other financial services transactions,” said Steve Meirink, Executive Vice President and General Manager for Compliance Solutions. “Our simplifying some of that complexity and lowering customer effort levels in a meaningful way is largely based on a series of 'voice of customer' and employee interviews we conducted over the past year. Those insights helped us identify, develop and prioritize substantive system improvements and streamline our daily customer interactions. The feedback from customers as well as our support reps has been overwhelmingly positive.”

Earlier this year, My Account won a 2021 International Business Award for customer service excellence. The team is now embarking on the release of new functionality in My Account, where customers will be able to pay invoices via Automated Clearing House functionality.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. insurers, banks and credit unions, and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) 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.

Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal® suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication and an electronic vault. Compliance Solutions’ OneSumX® for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content through a single data feed that is paired with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. The division’s legal solutions business are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,200 people worldwide.

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