MINNEAPOLIS — Wolters Kluwer Financial Services announced today the launch of HSA Director, its new online Health Savings Account management platform for banks and credit unions.

Wolters Kluwer joined with Canopy Financial, a provider of healthcare banking technology to the financial services industry, to create the HSA Director solution. HSA Director allows bank and credit unions to automate HSA-related business processes such as eligibility, enrollment, account management, claims submission, expense substantiation, receipt storage, reporting, analysis, customer service, and IRS regulatory form filing.

By having these processes online, banks and credit unions can help employers, employees, and individual customers open accounts faster and reduce the number of errors associated with manual enrollment.

“Ease and speed of use are both important features to financial institutions looking for an HSA technology solution, but so is its ability to help them remain compliant with regulatory obligations,” said Dave Roy, general manager of banking at Wolters Kluwer. “By partnering with Canopy to offer them the HSA Directory solution, we're providing institutions the best of both worlds.”