(PRWEB) March 01, 2012
For many years, Bank Owned Life Insurance (BOLI) has been growing in popularity among banks to finance rising employee benefit costs. According to industry reports, of the 6,850 commercial and FDIC-supervised saving banks, 50% currently hold BOLI assets on their balance sheet.
Mezrah Consulting, a premier provider of Executive Benefit and BOLI consultation has announced the release of BOLIware; a web based interactive tool designed to help banks evaluate their current BOLI assets and moreover, assess the impact of acquiring a new BOLI asset.
Developed exclusively by Mezrah Consulting in concert with Drawloop Technologies, BOLIware is the first SaaS based service that provides banks with cloud analytics specific to either acquiring BOLI as an asset or evaluating how to potentially improve an existing BOLI portfolio. All calculations are based on the banks current financial position and takes into account current BOLI product opportunities that exist in the marketplace today. This comprehensive summary analysis allows for multiple models to be generated with varying fact patterns and financial assumptions. Portfolio yield, return on equity, return on assets, credit strength, P&L impact and capital requirements are all taken into consideration. Leslie Finnemore, Partner of FORGE Advisory, a national consulting firm specializing in investment portfolio due diligence for banks says that “This a great tool with detailed results about how to improve a bank’s balance sheet. It provides immediate feedback about how an improvement can be made to BOLI. This asset class has been ignored from an evaluation and analytical perspective”.
“For the first time, BOLIware will provide an opportunity for banks to quickly obtain tangible information about where an opportunity may exist within their current portfolio. BOLIware can help management understand the financial metrics and impact around the acquisition of BOLI as an asset” says Todd Mezrah , CEO of Mezrah Consulting. Banks will now be able to run a variety of scenarios resulting in BOLI analytics driven by a particular banks interests; yield, capital or both.
Banks that want to improve their current portfolio and/or banks that want to invest in new BOLI assets will benefit from this new dynamic, easy to access, analytical tool. Within minutes a bank will be able to determine if Mezrah Consulting can be a resource for them in developing a relationship where real value can be added.
For additional information on BOLIware please contact Todd Mezrah at 813-367-1111 or visit http://www.BOLIware.com