SAN FRANCISCO and CHICAGO, Jan. 22, 2008 (PRIME NEWSWIRE) -- Canopy Financial, a leading provider of innovative technology solutions that connect healthcare and financial services, today announced it has contracted with Wolters Kluwer Financial Services, a provider of compliance, content and technology solutions that helps more than 15,000 financial organizations manage risk and improve efficiency across their enterprise. Through the relationship, Canopy's HealthDirect Health Savings Account (HSA) technology platform has been integrated into Wolters Kluwer Financial Services' new HSA Director(tm), an HSA management system that provides financial institutions and their commercial and retail clients fast, easy and compliant HSA enrollment and management capabilities. While HSA Director will be marketed to financial institutions nationally, the new product will make Canopy's award-winning healthcare banking platform, which currently services and supports the HSA programs of several Fortune 500 financial institutions and healthcare companies, available to all banks and credit unions for the first time.
"As the HSA market continues to accelerate, financial institutions are increasingly offering these types of accounts to the employer and consumer clients they service," said Luis Doffo, Senior Vice President, Canopy Financial. "Our relationship with Wolters Kluwer Financial Services is extremely important as it helps Canopy dramatically extend its market penetration particularly into the bank and credit union market through HSA Director, a seamless, leading-edge healthcare banking product that helps financial institutions meet the HSA needs of their customers."
"Wolters Kluwer Financial Services is committed to helping financial institutions take advantage of the rapid growth in HSAs and the Consumer Directed Healthcare market," said Dave Roy, General Manager, Banking, Wolters Kluwer Financial Services. "HSA Director integrates our leading HSA compliance documents and content into Canopy's HealthDirect HSA technology platform and not only gives financial institutions an opportunity to more efficiently provide customers with portable Health Savings Accounts, but offers their commercial clients a complete and comprehensive solution, which is critical when competing with healthcare-owned financial service providers."
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization's prominent brands include Bankers Systems, VMP(r) Mortgage Solutions, PCi, GulfPak, Desert Document Services, AppOne(r) GainsKeeper(r), CCH(r) Capital Changes, NILS INSource(r), AuthenticWeb(tm) and CCH Wall Street(r).
Wolters Kluwer Financial Services' solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information and professional services. Customers include banks, credit unions, mortgage lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2006) of EUR 3.4 billion ($4.3 billion), employs approximately 18,450 people worldwide, and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com
About Canopy Financial, Inc.
Canopy Financial provides innovative technology solutions that connect healthcare and financial services. Serving some of the world's largest healthcare and financial institutions, Canopy powers the development and delivery of complete healthcare banking services for both consumers and businesses. Founded in 2004, Canopy maintains offices in San Francisco and Chicago. For additional information please visit www.canopyfi.com