Prosper Bank to Use Edgeware Analytics' ScoreEdge Small Business Credit Score to Improve Loan Origination Decisions
Fastest Growing SBA Lender in Texas to Use Data-Driven Model for More Profitable Small Business Credit Approvals
SAN DIEGO, CA --
(MARKET WIRE)
-- November 16, 2006 -- Edgeware Analytics, Inc., an innovative
provider of decision tools for small business lenders, has announced today
that Prosper Bank is relying on the ScoreEdge™ small business loan decision
model to improve origination decision accuracy.
ScoreEdge is an online, real-time decision tool that provides greater
insight into the risk of loan approvals. Edgeware Analytics developed the
statistical model by analyzing hundreds of thousands of SBA and
conventional loans and their subsequent performance. ScoreEdge examines
the same application time data available to the loan officer and returns a
three digit score that helps predict the loan's future performance.
"We've worked hard to achieve strong growth in our business lending
portfolio and we're pleased to have done so while maintaining rigorous
credit standards," said Bobby Hashaway, Chief Executive Officer and
Chairman of Prosper Bank. "We've selected Edgeware's ScoreEdge decision
model to give us additional risk insight so we can achieve continued growth
and profit enhancement."
"Prosper Bank has achieved record growth in 2006 and is a serious player in
the SBA market in Texas," said Dan Shoham, Chief Executive of Edgeware
Analytics. "All of us at Edgeware are excited that Prosper Bank has chosen
us as their decision model provider and we're proud to support their
commitment to continued growth."
About Edgeware Analytics, Inc.
Edgeware Analytics, Inc., an innovative provider of customized and generic
decision tools to lenders, combines expertise in statistical modeling and
credit evaluation to create profit-enhancing predictive models. Used by
national lenders, certified development companies and community banks;
Edgeware's ScoreEdge™, ScoreEdge504™, and Oscore™ products work in
conjunction with a lender's established underwriting procedures to
measurably improve the accuracy of small business lending decisions.
Additional information can be found at: www.EdgewareAnalytics.com.
About Prosper Bank
Prosper Bank is a community bank, committed to helping their customers
prosper while realizing their dreams and achieving financial security.
Every relationship is important to them; truly taking the time to listen
and to fully understand each customer's financial needs is the level of
service that distinguishes Prosper Bank from its competitors. Their team of
qualified professional staff works with customers to derive solutions to
meet their banking needs. The integrity with which Prosper Bank operates
sets the high standard of excellence which they apply to the partnerships
built with customers, shareholders, associates, and communities.
Additional information can be found at: www.bankprosper.com.
Contact:
Mike Rozman
888-672-6730
Email Contact
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