Finastra, a global firm focused on financial services software, announced enhancements to its LaserPro document management solution, integrating with two different Uniform Commercial Code (UCC) filing service providers, CSC Lien PerfectSM for Lenders and Wolters Kluwer’s iLien UCC platform. These latest integrations are reportedly intended to support efficient and automated UCC filing workflows for banking institutions and credit unions.
Cheryl Anderson, Senior Director of Product Management at Finastra said that their UCC filing partnerships are testament to their mission of improving finance together with partners, “transforming a traditionally labor-intensive process into a swift, automated workflow, enabling lenders to close deals faster, reduce operational risks, and provide a smoother borrower experience.”
The connection with CSC’s platform provides features like online portfolio management, real-time jurisdictional data validation, and streamlined UCC-1 and UCC-3 filings.
Wolters Kluwer’s iLien UCC platform reportedly offers automated filing processes, and complete lifecycle management across filing types such as Purchase Money Security Interest (PMSI) and Effective Financing Statement (EFS).
These integrations are part of the latest updates to join the Finastra LaserPro suite, a loan documentation system intended for commercial, consumer, and mortgage portfolios.
Offered via the cloud, LaserPro helps FIs cut down on risk and operational costs while delivering a better borrower experience.
As covered, Finastra is a financial services software provider, currently being used by 8,000+ customers – including major banking platforms – in more than 130 countries.
With expertise now spanning Lending, Payments, Universal Banking, and Treasury & Capital Markets, they aim to provide mission-critical solutions like Loan IQ, LaserPro, Trade Innovation, Essence, Global PAYplus, Payments To Go, and Financial Messaging.
Reportedly backed by Vista Equity Partners, they work cooperatively with their customers to build modern tech that helps financial institutions grow in a sustainable manner.
As covered last month, Finastra unveiled its so-called Intelligent Routing Module. The solution seeks to bring “intelligent,” data-driven payment routing to banks and FIs, enabling them to process transactions faster, at lower cost, and with greater accuracy / effiiciency.