Monday, November 23, 2009
Covarity Enhances Commercial Loan Monitoring Software with Improved Analytics and Borrower Electronic Submission Capabilities
November 23, 2009
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
About Covarity Inc.