Wolters Kluwer Governance, Risk & Compliance (GRC) has signed an agreement to acquire eOriginal for approximately €231 million ($280 million) in cash, officials said.
eOriginal is a leading provider of cloud-based digital lending software.
“Borrower preferences, competition among lenders, and changing regulations are driving increased digitization of the lending workflow. eOriginal is well-positioned to take advantage of these systemic trends,” said Steven Meirink, executive vice president and general manager of Compliance Solutions for Wolters Kluwer GRC. “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.”
eOriginal serves more than 650 customers in the U.S., including banks, mortgage lenders, consumer lenders, and auto and equipment finance lenders. The eOriginal platform enables lenders and their 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, Meirink said, which allows the integration of eOriginal’s electronic vaulting and closing software with Expere. The offerings of eOriginal and GRC Compliance Solutions are “highly complementary,” he said.
“eOriginal is a leader in digital loan solutions with a proven track record of growth and customer adoption,” said Brian Madocks, CEO of eOriginal. “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.”
