Canopy Financial is partnering with Wolters Kluwer Financial Services to integrate its Health Savings Account (HSA) technology platform with Wolters Kluwer's new HSA management system to make Canopy's healthcare banking platform available to all banks and credit unions.
Through the partnership, Canopy's HealthDirect HSA technology platform has been integrated into Wolters Kluwer Financial Services' new HSA Director, an HSA management system that provides financial institutions and their commercial and retail clients HSA enrollment and management capabilities. HSA Director will be marketed to financial institutions nationally, and the product will make the healthcare banking platform, which 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 of 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," added Dave Roy, general manager of banking at 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 HSAs, but offers their commercial clients a complete and comprehensive solution, which is critical when competing with healthcare-owned financial service providers."
Canopy Financial provides technology solutions that connect healthcare and financial services. It provides services to 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.
Wolters Kluwer, headquartered in Amsterdam, the Netherlands, is a global information services and publishing company. It provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors.