Wolters Kluwer Governance, Risk & Compliance (GRC) has signed an agreement to acquire eOriginal, a provider of cloud-based digital lending software, for approximately €231 million in cash.
The acquisition extends GRC Compliance Solutions’ position in US mortgage and loan document generation and analytics into the fast-growing digital loan closing and storage adjacency.
The eOriginal platform enables lenders and its partners to create, store and manage digital assets from close through to the secondary loan market.
GRC’s Compliance Solutions business has had a strategic partnership with eOriginal since 2016, which allows the integration of eOriginal’s electronic vaulting and closing software with Expere.
Steven Meirink, executive vice president and general manager, compliance solutions, Wolters Kluwer GRC, said: “Borrower preferences, competition among lenders, and changing regulations are driving increased digitisation of the lending workflow. eOriginal is well-positioned to take advantage of these systemic trends.”
“The acquisition positions us as the leading provider of digital lending solutions, spanning all workflows from loan approval, to document preparation and closing, with compliance certainty.”
Brian Madocks, CEO of eOriginal, commented: “eOriginal is a leader in digital loan solutions with a proven track record of growth and customer adoption.”
Madocks added: “Digital lending continues to grow across all industries. Customers want and need purpose-built digital solutions that are complete and compliant. The combination of eOriginal and Wolters Kluwer provides exactly that – the right solution, in the right market, at the right time.”
