ActiveDocs Limited, a world leader in document automation and compliance for large enterprises, today unveiled its solution that focuses on compliance with the European Union's Mortgage Credit Directive (MCD) that comes into effect on March 21, 2016, and affects lenders throughout the EU. The solution can ease the transition from the existing to the new way of providing key financial information to clients, as required by the European Standardised Information Sheet (ESIS) under the MCD.
Glenn Ricketts, ActiveDocs CEO, said:
“The mortgage market unification efforts under the Mortgage Credit Directive will have an impact on most of the EU's financial services institutions. Generation of compliance documentation for the consumer mortgage market will be affected significantly, because the MCD requires compliance with the new ESIS standard. ActiveDocs invested into research of the MCD compliance requirements and is now able to provide the ESIS Solution that is based on its ActiveDocs Opus document automation and compliance platform.”
The ESIS Solution provides the ability to import existing documents with key financial information, apply changes required by the MCD, and utilize lenders data to ensure consistency across all stages of the lending process for both first and second charge consumer mortgage disclosure documents.
Glenn Ricketts noted:
“ActiveDocs is uniquely positioned to deliver a transformative solution to financial services institutions in the EU through years of experience in delivering automation and compliance solutions to Global Fortune 500 companies and its understanding of compliance requirements in this sector. We have a proven compliance platform and the expertise to deliver what the lenders in the €4.7 trillion European mortgage market need to comply with the MCD.”
ActiveDocs develops Template management and document automation software that reduces the time and expense of creating documents, while mitigating the potential risk caused by inaccurate information. The company's solutions lower the possibility of complaints, legal issues and financial losses caused by manual document creation and help companies personalize standard, repeatable information. ActiveDocs has been in business since 1992, and specializes in state-of-the-art document automation and compliance for large enterprises. ActiveDocs' customer base covers over 160 of the Global Fortune 500, including the world's largest company – Royal Dutch Shell – as well as BP, Bayer Healthcare Pharmaceuticals, ABB and many other global giants.
ActiveDocs Opus™ is a world-leading Document Automation Solution built on Microsoft® Office and Microsoft® Windows Server technology, and supports industry standard integration with data sources and document storage and handling applications. Templates are designed in Microsoft® Word and built from reusable components. ActiveDocs Opus has built-in management and deployment tools to allow Templates to be used for User-Driven (interactive) and Program-Driven (automated) document creation.