Inmatrix Solutions Provide Heartland Financial USA With Significant Competitive Advantage During Tough Global Economy
Heartland Financial USA, Inc., has teamed with Inmatrix, Inc., to implement a comprehensive credit risk management and lending solution that gives the community bank a very significant advantage over its competitors. Inmatrix provided Heartland with an affordable solution that moved the bank from doing simple financial analysis to an overall credit risk framework that delivers the credit platform, processes and workflow they need to compete against banks with greater resources in this troubled economy.
San Francisco, CA (PRWEB) May 28, 2009 -- Heartland Financial USA, Inc., based in Dubuque, IA, has teamed with Inmatrix, Inc., based in San Francisco, CA, to implement a comprehensive credit risk management and lending solution that gives the community bank a very significant advantage over its competitors.
Inmatrix provided Heartland with an affordable solution that moved the bank from doing simple financial analysis to an overall credit risk framework that delivers the credit platform, processes and workflow they need to compete against banks with greater resources in this troubled economy.
With the development of Heartland's impressive new lending analysis vehicle, Heartland's business bankers have the uniform ability to perform various stress testing and risk rating scenarios for individual loans or across the entire portfolio. Inmatrix automated Heartland's stress testing process and eliminated the manual processes used previously.
Heartland named its new service Profitmax to convey the added value Heartland brings to the business banking relationship.
"It's difficult for community banks to compete effectively in this turbulent economy," said Gary Challinor, CEO of Inmatrix. "Heartland Financial understood that if the bank was to prosper, it would have to find a new way of doing business to protect itself from losses or limited growth."
"Just because you wrote good paper when a loan was made in the past does not mean it is good paper now," Mr. Challinor said. "Our initial goal was to provide Heartland with the ability to fully "stress" their portfolio or portions of it. This gives Heartland a significant advantage over its competitors as it allows the bank to identify potential negative trends before they occur and to take appropriate action to fix the problems."
Compounding the stressful economic trend, Heartland, like all banks, is faced with additional government regulation. The bank also identified a need for stronger and more auditable lending practices that would survive even the toughest regulatory scrutiny.
"Once we recognized the complexity and scope of the problem," said Ken Erickson, EVP and Chief Credit Officer of Heartland Financial, "we realized the need to take on multiple tasks at the same time. That includes lowering our credit risk and building stronger relationships that create the long-term revenue growth we required, while adhering to stringent government regulations."
According to Heartland officials, Inmatrix was the only vendor capable of providing an end to end credit risk solution that covered all of Heartland's critical banking needs from credit risk assessment to relationship management to comprehensive portfolio management and allowance methodology.
"Inmatrix's solution provides our lenders with a valuable interactive tool that allows them to discuss financial performance in a consultative role. This solution will help to differentiate Heartland banks from their peers - large or small," said Mr. Erickson. "Profitmax greatly expands our ability to get behind the numbers, show the cause and effect of changes to certain business situations and demonstrate how such changes could impact their business as a whole."
"Because ProfitMax brings so much more meaningful data to the table," according to Ed Borchert, Heartland's Senior Vice President of Credit Administration, "we expect businesses to be quite impressed by the sophisticated consultation they receive from their community bank, and consequently, we will see the bank's commercial lending business grow."
About Heartland Financial USA, Inc.
Heartland Financial USA, Inc. (NASDAQ: HTLF) is a $3.6 billion diversified financial services company providing commercial and retail banking, mortgage, wealth management, insurance and consumer finance services to individuals and businesses. The company has 61 banking locations in 42 communities in Iowa, Illinois, Minnesota, Wisconsin, New Mexico, Arizona, Montana and Colorado. Additional information about Heartland Financial USA, Inc. is available at www.htlf.com.
About Inmatrix, Inc.
Inmatrix, Inc. is the banking industry's most comprehensive credit risk analysis solution. More than 50% of the world's 1-AA rated banks use Inmatrix to minimize credit risk for commercial loans. Inmatrix provides critical underwriting functions needed to evaluate entire portfolios or single loans using a multitude of spreading, analytics and stress testing scenarios. Inmatrix offers a full array of banking industry solutions such as Commercial & Industrial, Commercial Real Estate, Personal Cash Flow and Risk Rating Delivery under the brands Optimist® and Portfolio Strategist®. Based in San Francisco, Inmatrix has been in business 11 years serving more than 2500 customers in 21 countries worldwide. Additional information is available at www.inmatrixinc.com.
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