Latest Covarity 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 Covarity Fall 2009 Release Update.