Thursday, January 06, 2011
Covarity Launches the Mobile Lender Dashboard for Smartphone Devices
Provides First Mobile Solution for Commercial Loan Monitoring Field Operations
January 6, 2011 - Kitchener-Waterloo, Ontario, CA - Covarity Inc., the leading provider of commercial loan monitoring and analysis, today announced the availability of the Mobile Lender Dashboard, a smartphone-ready business solution providing banks with a secure means to conduct field operations with access to customer and loan reporting data through handheld devices. The solution is ideal for client field examination or account management activities commonly conducted remotely.
“Many critical loan monitoring functions occur outside the office at client business locations,” stated Rod Foster, Covarity President and CEO. “The Covarity Mobile Lender Dashboard provides a secure solution to equip account managers, field examiners and auditors with the information they need to manage these processes more efficiently and conveniently.”
Currently supported on popular BlackBerry and Apple’s iPhone and iPad devices, the Mobile Lender Dashboard provides borrower financial trend reporting, loan review summaries, as well as borrowing base, ratio and covenant analysis reports. Use of the Mobile Lender Dashboard reduces the use of paper in field work, contributing to a more secure and efficient operation.
“The need for mobile applications in commercial loan management reflects the importance of field activities in the lending operation,” added Susan Feinberg, a Senior Research Director with TowerGroup. “Providing secure, convenient access to data improves bank staff productivity and has the potential to enrich client interaction.”
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 monitoring and analysis. Covarity automates the process of 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, Libro Financial Group, Laurentian Bank and RBC Bank in the United States. Please see www.covarity.com for more information.
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