Friday, June 03, 2005
St. Willibrord Credit Union deploys the Covarity Dashboard commercial loan monitoring solution
(Kitchener, Ontario, June 3, 2005)
Covarity today announced that St. Willibrord Credit Union, one of the largest credit unions in Canada and a leader in commercial lending in Ontario, has deployed the Covarity Dashboard commercial loan monitoring software solution.
"The Covarity Dashboard will help us deliver outstanding service to our commercial lending customers, while at the same improving our loan management processes and helping us reduce risk", said Frank Kennes, VP, Credit at St. Willibrord Credit Union. "We notice that now that we're offering the Covarity Dashboard service to our borrowers, many of them are finding it so convenient to report their monthly financials that they're doing so just a day or two after month end - a full two weeks ahead of the deadline, when we normally receive the information. This allows us to be proactive in delivering service to our borrowers and in managing our risk."
"We're especially pleased to add a leading financial institution such as St. Willibrord Credit Union as a customer", said Rod Foster, president and CEO, Covarity. "We're confident that the Covarity Dashboard will help St. Willibrord add to its reputation as a forward-looking, customer-focused financial institution, and will help it to consolidate its strong position in commercial lending."
With the Covarity Dashboard, borrowers upload their financial information through a secure web interface, where risk calculations and loan ratio analysis are performed automatically. Lenders have a real-time view of their loan portfolio in a simple dashboard, which immediately identifies risks, opportunities and problem accounts. As a result, lenders are able to make more informed lending decisions and manage their portfolios more effectively.
About St. Willibrord Credit Union.
About Covarity Inc.
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