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ICBA and Wolters Kluwer Financial Services Offer Automated IRA Tool

IRA Management Center® Solution Helps Community Banks Manage Risk

Washington, D.C. (March 7, 2006)—The Independent Community Bankers of America (ICBA) announced a new Preferred Service Provider relationship with Wolters Kluwer Financial Services' IRA Management Center®. The IRA Management Center is an on line solution that automates tasks involved with opening, maintaining and dispersing funds in individual retirement accounts (IRAs).

"The IRA Management Center® can help ICBA member banks manage the risk associated with their IRA programs more efficiently," said Camden R. Fine, ICBA president and CEO. "The solution is built on the regulatory content, industry knowledge and decades of experience that comes from the Wolters Kluwer Financial Services' Bankers Systems brand."

By automatically generating IRA documentation from the company's extensive compliance knowledge base, the IRA Management Center® eliminates guesswork on the bank's part-saving time and allowing community bankers to focus on other client-related activities.

The IRA Management Center® can help financial organizations:

  • Improve efficiency by creating dynamic documents more quickly;

  • Reduce errors by checking information entered into the document before it is created;

  • Reduce risk by flagging invalid answers, completing compliance checks, and providing documents based on current legislative and regulatory changes;

  • Provide flexibility by allowing a tailored look and feel to the web site, policies, investments, user restrictions, reporting functions and much more;

  • Improve workflow by assisting with integration into existing technology, so there's no need to rekey certain information; and

  • Improve service by providing quick and accurate IRA opening and maintenance.

"Wolters Kluwer Financial Services knows community banks play a critical role in their communities," said John Bryant, senior vice president of banking for Wolters Kluwer. "We feel supporting them through industry-leading organizations like ICBA helps to ensure their success for years to come. And our status as an ICBA Preferred Service Provider is an opportunity for us to continue to serve community banks by providing them with practical, reliable and easy-to-understand solutions."

About Wolters Kluwer Financial Services Wolters Kluwer Financial Services, a market leader and strategic customer unit of Wolters Kluwer, provides best-in-class compliance, credit, and operational risk management and work flow services and solutions; as well as capital changes and corporate actions data and tools to banks, credit unions, mortgage companies, securities organizations, and insurance companies throughout the United States. Its well-known brands include Bankers Systems, VMP Mortgage Solutions, PCi Corporation, GainsKeeper, CCH INSURANCE SERVICES, CCH Wall Street, and CCH Capital Changes.

The organization's solutions include documentation and documentation platforms; analytics; regulations and statutes tools; and capital changes and corporate actions services-all focused on helping its customers manage risk while becoming more efficient, productive, and responsive. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com.

Wolters Kluwer Financial Services is a strategic customer unit of Wolters Kluwer, a leading multi-national publisher and information services company with annual sales as of 2005 of €3.4 billion and approximately 18,400 employees worldwide.