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Community South Bank Deploys Edgeware Analytics' Small Business Credit Score to Improve Loan Origination DecisionsEmpirical Model Built on National Portfolio of Small Business Loans Delivers Measurable Profit-Lift in Small Business Credit Approvals |
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SAN DIEGO, CA -- (MARKET WIRE) -- 03/10/2006 -- Edgeware Analytics, an innovative provider of decision tools for small business lenders, has announced today that Community South Bank's Small Business Lending Division, deployed the ScoreEdge™ small business loan decision model to improve the accuracy of their origination decisions. Community South Small Business Lending, headquartered in Knoxville, becomes the first bank in the Southeast to adopt the model. ScoreEdge is an on-line, real-time decision tool that provides lenders like Community South Small Business Lending more transparency into the risk of a small business loan. Edgeware Analytics developed the statistical model by analyzing thousands of small business loan applications and their subsequent performance. The loans came from across the United States and a wide spectrum of industries. Community South Small Business Lending is deploying the model on their conventional and government guaranteed small business loans. "Community South Small Business Lending is always looking to improve the accuracy of our risk management practices," said Martin Carr, Small Business Lending Division President. "The decision to originate a loan has more impact on profitability than any other action we take in our lending practice. By allowing us to more accurately measure the risk of a new loan application, the ScoreEdge model helps us identify which loans we want to originate and under what terms. We see ScoreEdge playing an important role with our ongoing growth strategy." "Small business lending is an ever-increasing competitive market and lenders need the most accurate insight into loan risk to drive profitability," said Dan Shoham, Chief Executive Officer of Edgeware Analytics. "In developing ScoreEdge, we let the data do the talking. By analyzing thousands of actual small business loan applications and their subsequent performance, we identified the most predictive elements. ScoreEdge summarizes this learning in an easy to understand score. Community South Small Business Lending, like our other clients, is now better armed to make more informed origination decisions." About Edgeware Analytics Edgeware Analytics is an innovative provider of customized and generic decision tools to lenders. Edgeware combines expertise in statistical modeling and credit evaluation to create profit-enhancing predictive models. Used by national lenders and community banks alike, Edgeware's ScoreEdge product, works in conjunction with a lender's established underwriting procedures to measurably improve the accuracy of small business credit approvals. Additional information can be found at: http://www.edgewareanalytics.com/. Mike Rozman 888-672-6730 Email Contact |