Provides First Mobile Solution for Commercial Loan Monitoring Field
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KITCHENER-WATERLOO, ON, Jan. 6 /CNW/ - 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
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
"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.
BlackBerry is a registered trademark of Research in Motion. iPhone and
iPad are registered trademarks of Apple. Other company and product
names may be trademarks of their respective owners.
SOURCE Covarity Inc.
For further information:
VP of Marketing, Covarity Inc.
519-749-9424 EXT. 283