CORAL GABLES, FL / ACCESSWIRE / July 31, 2019 / Professional Bank, one of the fastest growing financial institutions in Florida, has joined the ranks of the nation’s largest institutions in automating business loan applications. As the first sub-$1 billion community bank in the nation to use Moody’s Analytics QUIQspread™ automated spreading technology - as part of a suite of Moody’s Analytics solutions that also includes CreditLens™, ImpairmentStudio™ and MARQ™ software - the institution reviews loan applications faster, more accurately and more efficiently than most lenders.
“This investment will incrementally enhance our deal flow management, loan review and approval process which will directly benefit our commercial borrowers,” said Professional Bank Chairman and CEO Daniel R. Sheehan. “Our team continues to focus on leveraging technology to improve service and strengthen credit quality controls as we continue to grow.”
The QUIQspread solution eliminates the need for loan applicants to format financial information for Professional Bank. Moody’s Analytics software extracts data and notifies the borrower upfront of missing information. As a result, loans are processed faster.