A Better Lending Experience for Borrowers & Lenders

Coviance transforms community banks and credit unions with the tools they need to create automated, intelligent experiences which accelerate sustainable business growth and reduce cost of origination.

Omar Jordan
March 1, 2024
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The demand for home equity lending is skyrocketing. Homeowners’ lendable equity is heading towards a record-breaking high. Meanwhile, big banks are deprioritizing home equity lending. The timing couldn’t be more primed for community banks and credit unions to maximize their TAM potential and increase customer share of wallet. 

Financial institutions work relentlessly against manual processes which overcomplicate and lengthen lending processes, clouding visibility for borrowers and dragging out application-to-close loan cycles. Financial institutions must evolve to enable sustainable growth, automate operations, accelerate loans, and manage compliance. Creating an outstanding, end-to-end experience for borrowers and lenders alike keeps financial institutions ahead of the competition.

Today, Coviance is renewing its focus on creating these elevated, outstanding experiences for borrowers and lenders, while empowering financial institutions to stay agile ahead of the constantly changing landscape of regulatory requirements and borrower expectations. We transform community banks and credit unions with the tools they need to create automated, intelligent experiences which accelerate sustainable business growth and reduce cost of origination. 

Deliver a standout borrower experience.

The lending process starts and ends with the borrower. From the moment they fill out an application, the pressure is on for the lender to put forward exceptional borrowing experiences —and fast— loan origination cycle. The best experience will quickly obtain and validate collateral, maintain consistent and transparent communications, and get cash in the borrowers’ hands as fast as possible. Coviance’s Borrower Experience keeps borrowers informed and automatically triggers collateral designing end-points to cut closing time from weeks to days, even hours, delivering the automated, easy experience that borrowers demand.

Impress your borrowers with a transparent experience →

Create an adaptive, intelligent lending experience.

Today’s lenders feel hindered with manual processes and back-and-forth touch-points with borrowers and third party vendors. It’s a constant and consistent balancing act between speed and risk management. An automated experience not only accelerates the lending process, but also ensures lenders are checking all the compliance boxes. Coviance’s Lender Experience automates, validates and deploys decisions already embedded in the lenders' underwriting policy handbook. Coviance’s Collateral Decisioning Engine™ is proven to increase efficiencies by 36 percent.

Confidently automate lending decisions →

Simplify compliance. 

Every financial institution understands that there’s no room for error when it comes to satisfying regulatory and compliance requirements. With Coviance, change management, underwriting stipulations and tracking audit reports are in place to help lenders manage compliance efficiently and effectively. A transparent and straightforward way to manage lending operations can guarantee consistency and risk mitigation. Coviance’s Compliance & Operations Experience provides both high-level and detailed views of the lending workflow process, creates consistency through automation, and provides file-level HMDA validation technology that’s superior to most solutions lenders use today. 

Navigate compliance and operations →

A new end-to-end experience begins today.

As the industry continues to shift and borrowers demand more nimble and stand-out experiences, Coviance will continue to evolve to deliver holistic, end-to-end, best-in-class lending experiences with our platform for financial institutions. Over 425 customers trust Coviance to automate and simplify home equity lending.

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