Press Release National Livestock Credit Corporation Selects WebEquity On-Demand Lending SoftwareCattle financing firm replaces Excel-based credit analysis with WebEquity to improve loan servicing efficiency, data accuracy and documentation uniformity. |
OMAHA, NE -- WebEquity Solutions® LLC (WebEquity), the proven leader of on-demand lending software, announced today that National Livestock Credit Corporation, an Oklahoma based lending corporation with $70 million in assets, has selected the Company’s on-demand lending software to automate its agricultural loan processes and portfolio risk management. Established in 1932, National Livestock is a unique business which specializes in financing used to purchase and maintain cattle and has built long-standing customer relationships; some of which span more than 30 years. The lender will use the WebEquity system to help manage the complex credit analysis associated with processing cattle loans for more than 300 customers. National Livestock chose WebEquity to improve loan servicing efficiency, documentation uniformity and credit presentation quality. The cattle lender will take advantage of the software’s centralized control and comprehensive analytical capabilities to overcome some of the challenges with the current Excel and Word-based credit analysis processes including; eliminating potential formula errors, ensuring formula and policy changes are globally implemented and centrally managing who has the authority to approve exceptions. “Compared with consumer loans, the agricultural loans that we service require complex analysis at times and the WebEquity system gives us the peace of mind that the models we base our credit decisions on are accurate and that we are maintaining consistent documentation from loan officer to loan officer,” said Robert York, President, National Livestock Credit Corporation. “Our analysis will also benefit from some of the software’s advanced features including its scoring system and collateral analysis capabilities.” “The uncertain economic climate has put pressure on lenders to take a hard look at the tools they have in place to manage credit quality and portfolio risk. Like many lending institutions we work with, National Livestock has found that relying on Excel and Word for managing their credit analysis creates data accuracy and security challenges,” said Doug McGregor, CEO of WebEquity Solutions. “WebEquity overcomes these challenges with centralized control of credit analysis models, lending guidelines, loan documentation and credit presentations.” WebEquity is an on-demand, software as a service (SaaS) offering which significantly reduces the demand on a bank’s IT resources, and enables lenders to access their loan information from anywhere via a Web browser. Its flexible design also allows an institution to setup the software to support the bank’s specific policies and lending guidelines such as credit analysis, risk ratings and approval processes. WebEquity also provides the unique benefit of a single system that works for all loan types including commercial industrial, commercial real estate, agricultural, and consumer credits; helping an institution better manage consistent, uniform lending practices across the entire organization. About WebEquity Solutions®WebEquity® is the proven leader in on-demand lending software. More than 500 financial institutions and 10,000 lending professionals use WebEquity to automate and streamline their lending process and reduce operational costs, while making more uniform and profitable credit decisions. The company offers financial institutions a distinct advantage with a single solution that works for all loan types, an on-demand model that provides centralized, anywhere access, and the flexibility to configure the system so it fits their lending practices. WebEquity serves institutions in the U.S., Canada and Australia. For more information call 800-264-0787 or visit www.webequitysolutions.com. |
