Press Release
April 29, 2009
WebEquity Marks 500th Customer Milestone
First Mid-Illinois Bank & Trust Selects WebEquity Lending Software
OMAHA, NE -- WebEquity Solutions® LLC (WebEquity), the proven leader of on-demand lending software, announced that First Mid-Illinois Bank & Trust, N.A. became its 500th customer. First Mid-Illinois Bank & Trust is $1 billion in asset size and has 26 branch locations serving its customers throughout the state of Illinois. The bank selected WebEquity® to automate its commercial and agriculture lending processes.
This important milestone demonstrates a continued trend of rapid growth for WebEquity. The Company has added more than 100 customers over the past year; 62 of these financial institutions were added during the first half of its fiscal year ending in March 2009.
“We selected WebEquity after conducting a comprehensive review of four lending software systems,” said Jason Tucker, Vice President, First Mid-Illinois Bank & Trust N.A. “What differentiated WebEquity is that it provides a single solution that will work for us across our AG and commercial lending areas, and its flexible design will enable us to accommodate our credit analysis and decisioning requirements for each of these credit types.”
“We are excited to have First Mid-Illinois Bank & Trust join the WebEquity family as a new customer,” said Doug McGregor, CEO of WebEquity Solutions. “The customer growth and market momentum we are experiencing is evidence that lenders are making strategic investments in technology to gain operational efficiencies and to respond to the intense pressures they face in the areas of cost reduction, portfolio risk management and greater regulatory scrutiny.”
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, agriculture, small business, commercial real estate, construction and consumer credits; helping an institution better manage consistent, uniform lending practices across the entire organization.
WebEquity customers are located throughout the United States, Canada and Australia, and range from de novos to banks more than $250 billion in assets size. Some of WebEquity’s new customers include Community Bank of Alma, NE; Hampton State Bank, First National Bank of Volga, Green Belt Bank & Trust, United Bank of Kansas, Manhattan Bank of Manhattan, MT; Woodford State Bank and State Exchange Bank of Kansas.
To learn more about WebEquity, bankers can participate in the Company’s complimentary webinar series; Perspectives on Lending 2009. A full Webinar schedule is available at www.webequitysolutions.com/webinars.
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.
