Wolters Kluwer moves secure document exchange to the cloud
Wolters Kluwer Financial Services said the company is moving its secure document exchange service to the cloud. The move should help mortgage lenders make the secure, electronic delivery of mortgage compliance documents to borrowers faster, easier and more efficient, Wolters Kluwer said. The SDX cloud-based service also allows lenders to reduce the costs of printing, fulfillment and mailing. Wolters Kluwer said it also is increasing the scalability and redundancy the SDX service offers. "By moving SDX to a cloud-based environment, we’re helping lenders realize even more efficiencies while making borrower data more secure within the origination process,” said Jason Marx, vice president and general manager of residential and indirect lending for Wolters Kluwer Financial Services. NaviSite Inc. will host Wolters Kluwer's cloud-based system. Cloud-based systems also allow mortgage lenders to quickly contract or expand their network needs based on business levels via the shared services model that cloud computing provides, according to the Mortgage Bankers Association. The topic has been a source of discussion at MBA technology conferences. Remote access is another benefit. Picking the right partner is key for financial firms as data security and privacy is something such firms must keep at the forefront as they migrate to the cloud, one expert said. "In our own industry, we’re seeing an increase in the number of mission-critical lending functions moving to the cloud, including fraud screening, compliance checking, electronic signatures and electronic document delivery," said Alan Matuszak, vice president of technical operations and software engineering for eLynx, a portfolio company of American Capital (ACAS). Write to Kerry Curry. Follow her on Twitter @communicatorKLC.