Case Study: City National Bank strengthens lien management and reduces risk with Wolters Kluwer ELM Solutions’ Lien Solutions

The Importance of Holistic and Proactive Lien Management City National Bank and Lien Solutions

City National Bank (CNB) needed a more responsive and integrated approach to its lien management. After migrating from a manual, paper-based system, the bank's initial service provider was not offering adequate support or keeping them informed of critical industry changes, leading CNB to seek a new partner. This challenge led them to the vendor, Wolters Kluwer ELM Solutions.

Wolters Kluwer ELM Solutions implemented its iLien platform, providing an integrated suite of tools including Auto Continuation to prevent lapses, advanced Monitoring for alerts on portfolio changes, and Premium Reporting for customized tracking. This centralised solution gave CNB greater control and visibility over its lien portfolio, significantly mitigating risk to secured assets and enhancing operational efficiency. The measurable impact is highlighted by industry data showing that in 2010, 8% of all UCC filings lapsed, a risk that Wolters Kluwer's solution actively works to prevent.

City National Bank