Company Logo Monday, November 23, 2009

Covarity Enhances Commercial Loan Monitoring Software with Improved Analytics and Borrower Electronic Submission Capabilities

November 23, 2009
Latest software release improves on its early warning capabilities, enabling financial institutions to be more proactive in detecting risky credit situations with commercial clients

Kitchener-Waterloo, Ontario, CA - Covarity Inc., the leading commercial loan portfolio management software provider, today announced the availability of its Fall 2009 Release. Covarity customers, such as RBC Financial, HSBC Canada and BMO Financial will be using the enhanced functionality of the Covarity solution effective today.

With Covarity, financial institutions are able to improve the performance of their commercial loan portfolio by providing a consistent risk management framework built around the frequent and granular monitoring of their commercial loans. Covarity automates the process for collecting and analyzing financial data from borrowers, bringing consistency, quality assurance and process efficiencies to the commercial lending process.

“This release was very much dedicated to enhancing the analytic capabilities of the solution, specifically when it comes to providing our clients with the tools to be even more proactive in identifying and managing deteriorating credit situations,” said Rod Foster, President and CEO of Covarity. “In addition, the Fall Release contains many features that support the borrower electronic submission process, contributing to significant process improvements for both the institution and their clients.”

Highlights of the Covarity Fall 2009 Release include:

•An enhanced early warning system, that improves on the solution’s early detection of credit deterioration capabilities
•Several new reports that offer greater depth of analysis to improve the overall portfolio health of Covarity clients
•Enhanced foreign currency support
•Numerous features designed to further advance Covarity’s unique electronic submission capabilities
For a more detailed list of the features in the Covarity Fall 2009 Release, or for more information about the Covarity solution, please visit


About Covarity Inc.
Covarity is the choice of the best managed banks in the world (as cited by sources such as the World Economic Forum and Global Finance magazine) for precision commercial loan portfolio management. Covarity automates the process for collecting and analyzing borrower financial data and enables financial institutions to manage credit risk on a loan-by-loan basis. Covarity’s hosted, Web-based commercial loan monitoring solution delivers process efficiencies, value-added customer service and helps prepare financial institutions for regulatory scrutiny fast and efficiently with minimal capital outlay. Covarity is based in Kitchener, ON and was incorporated in 2001. Covarity’s customers include Royal Bank of Canada, BMO Bank of Montreal, HSBC Bank Canada, Libro Financial Group, and RBC Bank in the United States. Please see for more information.


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