Acquisition joins Bankers Systems, VMP Mortgage Solutions, and PCi Corporation, expanding the breadth of Wolters Kluwer's comprehensive lending compliance solutions
Wolters Kluwer Corporate & Financial Services, a division of Wolters Kluwer nv, today announced the acquisition of PCi Corporation, a leading provider of lending compliance management solutions in the United States. PCi Corporation's core competencies include compliance expertise and automated work flow solutions for complying with Fair Lending, the Community Reinvestment Act (CRA), the Home Mortgage Disclosure Act (HMDA), and predatory lending requirements, as well as flood hazard determinations, commercial loan automation, and Marketing Customer Information File (MCIF) solutions.

The acquisition of PCi Corporation expands the comprehensive line of compliance solutions offered by Bankers Systems, Inc. and its subsidiary, VMP® Mortgage Solutions, Inc., companies within Wolters Kluwer Corporate & Financial Services. Bankers Systems is a leading provider of compliance and work flow solutions for the banking marketplace, serving more than 80 percent of U.S. banks. VMP Mortgage Solutions is a leading provider of compliance and technology tools for mortgage lenders. PCi Corporation will operate as a subsidiary of Bankers Systems, Inc.

"This is an excellent addition to the Bankers Systems and Wolters Kluwer's portfolio, increasing the value we provide the financial services marketplace in dealing head-on with complex compliance issues," Christopher Cartwright, Chief Executive Officer of Wolters Kluwer Corporate & Financial Services, said.

"The focus on Fair Lending, CRA, HMDA, and predatory lending compliance is increasing and failure to deal with the issues can result in stiff fines and penalties," Bob White, President and CEO of Bankers Systems, Inc. and Wolters Kluwer Financial Services, stated. "PCi Corporation understands these complex compliance issues better than any provider in the industry. Not only do financial institutions trust PCi for these solutions, but many federal and state regulatory and enforcement agencies also rely on PCi products to analyze lending activities of the banks they regulate."

"By joining with Bankers Systems, we will be able to fulfill our strategy of providing end-to-end compliance solutions, from point of application to closing to back-end analysis," Raffi Festekjian, CEO and co-founder of PCi Corporation, said. "Bankers Systems' complementary offerings will enable us to reach this vision faster and to serve our clients even better by extending our offerings to include anti-fraud, customer identification, and anti-money laundering solutions, plus other tools to help clients meet the requirements of the USA PATRIOT Act."

PCi core solutions can be integrated via web services into the work flow platform of customers, other loan origination solutions, or leading core processing providers, making the products very flexible. The company's flagship products include CRA Wiz®, Fair LendingWiz, Wiz Sentinel, FloodWiz, MarketWiz, and Medici Documenter. The company's FloodWiz solution is currently integrated with Bankers Systems' ARTA® Lending Documentation System. Bankers Systems stated that additional Wiz products will be integrated into its solutions in the future.

PCi Corporation will continue to operate from its Boston location. The purchase is subject to government approval.

About Bankers Systems, Inc.
Established in 1952, Bankers Systems, Inc., a WoltersKluwer company, is a leading national provider of compliance tools, technology, and services for financial organizations and their legal counsel. The company's lending, deposit, individual retirement account, customer identification, and anti-money laundering solutions are used by more than 12,000 financial organizations, including over 80 percent of banks in the United States. Bankers Systems' software, documents, training, and support services help financial institutions be more productive, get to market more quickly, and manage risk. For more information about Bankers Systems, visit www.bankerssystems.com or call 800.552.9410.

About PCi Corporation
PCi Corporation is the lending industry's choice for maintaining compliance with both government-mandated and internal business rules. Over 2,000 lending institutions-including most of the nation's largest, as well as government regulators-rely on PCi's software and professional services to monitor, detect, analyze, and resolve compliance demands throughout the entire lending process. Compliance expertise, acquired during more than ten years of operating success, positions PCi to help lenders produce compliance-certified loans that minimize risk, identify lending opportunities, add value to portfolios, and serve the needs of their communities. PCi is based in Boston, MA. For more information about PCi, visit www.PciWiz.com.