Provenir Extends Financial Services' Decisioning Power with Support of Microsoft® Office®
Parsippany, NJ (PRWEB) April 25, 2007 -- Provenir, a leading provider of enterprise software for strategic customer lifecycle management, today announced that its Provenir Platform supports the importing of data from Microsoft's Word® and Excel® documents from any number of operating systems including Windows®, Linux®, AIX® and Solaris™. Lenders executing a multi-tiered decision process will now be able to access Microsoft Word and Microsoft Excel documents from any point in their workflow and import key analytic scores and variables for use in their decision strategies. This increased automation, coupled with Provenir's ability to provide a transparent way to capture and store decision variables within the loan applications, extends its customer's ability to meet regulatory compliance demands.
By using Provenir's File Foundation Adaptor, lenders realize immediate benefits that translate into significant savings. Data that is stored in the loan application can be automatically pushed into Word and Excel templates to create documents including Approval, Commitment and Proposal documents. Underwriters can then add their narrative information using familiar Microsoft Office® tools and that data can be automatically uploaded into the loan application. Lenders have the ability to reuse analytical models, such as Loss Given Default (LGD), Probability of Default (PD), and risk scorecards, developed in Excel and automatically push data to these scorecards and bring the calculated score back into the loan application for consistent decisioning and accurate compliance reporting.
"We believe that people should be able to use the tools that make it easier for them to do their job," said Lorraine Webster, Provenir's VP of Offering Management. "Commercial lenders are accustomed to using the Microsoft Office tool suite. By leveraging the templates they already know, we have significantly reduced the learning curve associated with moving to a new automated process and have eliminated the time and errors incurred when data is manually entered."
In a typical work scenario, an underwriter will launch an Excel spreadsheet (e.g. a loan document) from a link within the Provenir Platform. The spreadsheet will be automatically populated with data from the application including name, address, requested loan amount and collateral information. The underwriter may enter additional data into the spreadsheet, perform calculations, and run their own analysis. When the spreadsheet is ready to be uploaded, the desired fields are automatically mapped into the loan application. The entire spreadsheet can also be attached to the loan application for easy retrieval and management.
The solution is available immediately and more information can be obtained by visiting www.provenir.com.
About Provenir
Provenir is a leading provider of enterprise software for managing the customer lifecycle. Founded in 1992, the company's historical focus on solutions for the financial industry has led to successful implementations at major banks and credit institutions. This proven ability to handle key financial data and processes is now enabling companies in other industries to make use of the Provenir Platform to manage their customer lifecycle interactions.
Companies use Provenir software to create customized systems from a common architecture, letting IT and business collaborate to maximize profitability of operations that impact financial performance. Business applications of Provenir technology include originations, prospecting, account management, collections and recovery, customer service, security, and compliance.
Provenir is privately held, with headquarters in Parsippany, New Jersey. Customers in the United Kingdom and continental Europe are served from offices in London. Asia/Pacific operations are headquartered in Hong Kong. Information about Provenir, the Provenir Platform, and professional services are available on the company's website at www.provenir.com.
Microsoft, Office, Excel, Windows, and Word are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries.
AIX is a trademark of International Business Machines Corporation in the United States, other countries, or both.
Linux® is the registered trademark of Linus Torvalds in the U.S. and other countries
Solaris is a trademarks or a registered trademark of Sun Microsystems, Inc. in the U.S. or other countries.
###
Related Articles:
SNL Financial's Bank Deposit Market Share Ranking Shows Bank of America as No. 1
JP Morgan Chase retains hold on second, while Wachovia bests Wells Fargo.
Is My Credit Rating Important?
If you apply for any form of credit then the success of your application is likely to depend on your credit rating. Whether you want to take out a store card or a mortgage, credit reference agencies will be used to provide the lender with information about your credit history.
How To Use Your Credit Card To Really Save You Some Money
Today it is very common to think of credit cards as one of the major causes of so many people getting in debt. While that certainly is true for some, it may come as a surprise to you to know that by using a credit card in a certain way, that you could actually get sizable savings. Here are some tips for getting the maximum benefits of your credit card.
Emcien's Radhika Subramanian Named to Federal Reserve Bank of Atlanta Advisory Council
Radhika Subramanian, Emcien CEO, has been appointed to the Small Business, Agriculture and Labor Advisory Council of the Federal Reserve Bank of Atlanta. Subramanian's company, Emcien, provides an innovative technology solution that helps manufacturing companies improve profits margins by managing their product mix across their entire supply chain. As a small business CEO herself, Subramanian can specifically provide insights regarding interactions between small business and the large agricultural manufacturers.
How to get a higher limit on your credit card
Nearly everyone who has a credit card always has the goal of a higher line of credit. A higher credit card limit will enable you to make much higher purchases, normally purchases that you are unable to get with your current line of credit. There are ways that you can get a higher credit limit. Below, are some tips that will help you raise the limit of your credit.
Credit Report Hassles
There is no end to the amount of pain that your credit report can cause you. If you have a bad credit history this is something that can follow you around and wreak havoc on your life without you even knowing it.
How To Protect Yourself While Internet Banking
There is no doubt about the fact that identity theft is on the increase. More and more people are losing their identities and money each year due to the efforts of a select few individuals who know how to use the Internet to their advantage. Does that mean; however, that you shouldn?t use online banking at all in order to avoid running the risk?
Credit Help for Real Estate Financing: Credit Scores
When you buy real estate, lenders run all of the "big three" credit bureau reports. Each credit reporting agency lists your credit history as supplied to them by the individual lenders and includes governmental records.
Euler Hermes Launches Credit Insurance Policy for Receivables Finance Market
Euler Hermes launches PaymentPlus for invoice finance providers and their clients.
Things You Should Know About Low Interest Credit Cards
Anyone who shops for a credit card wants the lowest interest rates available. Who doesn?t want the best deal? For many of us, the magic figure naturally is a zero percent, although we fail to notice the fine print that comes with every approved credit card application.
