NEWS | For Immediate Release
NEW YORK, February 14, 2019 – Moody’s Analytics, a leading provider of financial intelligence, has added significant new automation functionality to the CreditLens credit-lifecycle-management solution, including automated spreading of financial statements and covenant tracking. Built on the latest cloud-based technology, the CreditLens platform helps financial institutions digitally transform their commercial credit processes to make faster and better-informed credit decisions.
Through integration with the new Moody’s Analytics QUIQspread tool, the CreditLens solution leverages machine-learning technology to extract financial statement data from word processing documents, PDFs, spreadsheets, images, and more. This integration automates one of the most laborious aspects of credit decisioning – the manual collation, extraction, and input of financial data.
The CreditLens platform now also automates covenant tracking. Clients simply specify a testing schedule, and the system will automatically warn of missing information or any breaches of financial covenants.
These automation features complement the solution’s strong configurability to make it easier for clients to quickly align to dynamic business requirements, whether those are new internal policies, changing priorities, or regulatory mandates.
“Many bankers haven’t yet digitally transformed their business, so their days are filled with tedious tasks associated with manual spreading and covenant tracking,” said Annie Choi, Senior Director of Product Management at Moody’s Analytics. “These enhancements to the CreditLens solution enable bankers to quickly realize the potential of a digital transformation, freeing up their time to spend on strategic matters, like providing more effective customer service or expanding portfolios.”
Click here to learn more about the Moody’s Analytics CreditLens solution.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.
Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). Moody's Corporation reported revenue of $4.2 billion in 2017, employs approximately 12,600 people worldwide and maintains a presence in 42 countries.