Make monitoring a real-time process optimized for borrower and lender success
Turn the annual review into an active preview
Every year, banks are required to conduct an annual review on each of their borrowers and every year, the majority of cases come back fine. The businesses are in good financial health, yet first line credit teams are still expected to review their financials, determine their risk rating, and prepare the credit write-up. This takes almost as much time as performing a full credit assessment - time that could be spent originating new loans or working with the borrowers that are in financial distress and present the most risk to the bank.
Segment and prioritize
Through segmenting credits on a high to low-risk spectrum, banks can quickly understand the overall financial health of borrowers, drill down to the individual loan level to focus on potential problem areas, and take corrective action before they become detrimental to the portfolio.
By automating aspects of the review process, banks can conduct ongoing reviews vs. point in time (annual) reviews - saving time and improving efficiency. You no longer need to wait for borrowers’ updated financials, as you always have a clear view of which loans have performed, which have not, and which may not in the future - connecting analytics to action.
Through continuous portfolio monitoring, banks can reduce the number of manual touch points in the annual review process, as well as the frequency and length of analysis. This means relationship, risk, and transaction managers can develop much deeper relationships with borrowers, make immediate credit decisions, anticipate challenges, and propose solutions. This in turn will help minimize defaults, drive growth, enhance the customer experience, and improve efficiency and profitability.
"Through the continuous monitoring of active credits, OakNorth’s (Credit Intelligence) software enables us to turn monitoring into a real-time process. This in turn will mean we can build deeper and more meaningful relationships with clients – having a consultative relationship with our borrowers – as well as ensuring our Relationship Managers have more time and better insights to originate new deals."
EVP, Chief Credit Executive at Old National Bank
Let's get ON with it
ON Monitoring enables banks to increase efficiency while maintaining credit standards by offering a proactive and ongoing underwriting view of their commercial loan book.
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Request a personalized demo to discover what ON Credit Intelligence can do for your bank.
What We’ll Cover:
- What makes our technology different
- How rapidly you’ll see results
- Ease of installation and cost benefits
- Current customers and outcomes