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Bankers Systems Announces The Development Of Intelligent Components, A Major New Line
Of Compliance Solutions For Large Financial Institutions And Software Developers
ST. CLOUD, Minn., March 12, 2001Bankers Systems, Inc. (BSI) announced today
the development of Intelligent Components, a first-of-its-kind compliance solution
for large financial institutions and software builders serving the financial services
marketplace. These compliance software components offer a revolutionary approach to
memorializing lending transactions.
With Intelligent Components, financial institutions and software developers can
purchase tailored compliance documentation and calculations components that can be easily
embedded into a system, providing the flexibility this market requires. Intelligent
Components can be deployed at various points in the work flow with systems developed for a
multitude of platforms and delivery channels.
The first component being developed will dynamically generate documents tailored to the
specific transaction, and include automatic document selection, compliance analysis¾ including support for all 50 jurisdictions and the District of
Columbia, and business rules to complete the documents with the transaction data. The
second component scheduled for release will provide calculations that support a wide array
of complex transactions, and include calculations such as APRs, payment schedules, and
credit insurance premiums.
"Technological advances and heavy merger and acquisition activity have left many
banks with an array of disjointed and patched systems," said John Bryant, Vice
President of Marketing for Bankers Systems. "Many of them are now beginning to plan
for a major system overhaul and need an integrated solution. As one of the industrys
most trusted compliance resources, BSI is in a unique position to provide the compliance
documentation elements by encapsulating critical compliance knowledge and making it easy
to embed into their systems."
Intelligent Components are delivered directly from Bankers Systems powerful
knowledge base, Expere, which contains the companys legendary knowledge of
federal and state-related legislation, regulations, and statutes.
"The beauty of Intelligent Components is that they are built specifically with
large financial institutions and software developers in mind. Intelligent Components can
be easily tailored to the unique needs of specific markets, supporting the way they do
business and eliminating the need for one-off development," said Bryant. "The
components will boost organizational productivity and speed to market by reducing the
burden of maintaining a magnitude of compliance elements in their systems. This is Bankers
Systems strength, and now we will deliver it in the way the largest organizations
Intelligent Components will be released beginning in the third quarter of this year.
The first offering will be the Dynamic Lending Document Component, which will integrate
into existing systems and receive regular updates when regulatory changes occur. The
second component is the Lending Calculations Component, which will automatically perform
calculations necessary to document lending transactions.
Bankers Systems will offer dedicated professional technical services and support to
system developers in order to facilitate successful integration and ongoing implementation
of Intelligent Components.
About Bankers Systems
Bankers Systems, Inc., a CCH INCORPORATED company, is a leading national provider of
compliance resource solutions for financial institutions and their legal counsel. The
companys deposit, lending, and retirement plan documents, disclosures, software,
training, and support services are used by more than 12,000 financial institutions,
including 83 percent of banks in the U.S. In addition, over 60 leading core processors and
systems integrators use Bankers Systems compliance-related documents and other
components in their solutions. For more information, call 1-800-552-9410 or visit www.bankerssystems.com.
Bankers Systems Inc. is a registered trademark and Expere and Intelligent Components
are trademarks of Bankers Systems, Inc.
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