Harland Financial Solutions has released CreditQuest Rating Manager, the latest addition to the company's CreditQuest risk and credit management software suite.
Rating Manager is designed to enable financial institutions to improve the credit-risk rating process. Using definable workflows, the software automates the retrieval of existing data and ultimately routes the rating to designated staff for peer review, override or final approval, while storing historical rating data for future analysis, the company says.
The browser-based solution can accommodate multiple rating models that may be required to rate the various types of counterparties and credit products within an institution's credit portfolio.
"The recent economic conditions and credit volatility have highlighted to lenders the need to reassess, more frequently, the business on their books and reconsider the evaluation criteria," says Scott Hansen, executive vice president of business development at Harland Financial Solutions.
SOURCE: Harland Financial Solutions Inc.