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Orlando, Fla., (May 3, 2007) --- DiCom Software, a leading provider of credit risk management technology solutions for financial institutions, announced today that Commercebank has licensed DiCom’s LRS Enterprise system to automate the organization’s loan review processes. The bank, headquartered in Coral Gables, Florida, has more than $5 billion in assets and is one of the largest privately held banks in South Florida.
LRS Enterprise will replace Commercebank’s use of spreadsheets and Word documents, automating the front-to-back loan review process. The system will enable the bank’s staff to perform credit quality views of portfolios during the review process, speeding up the reporting functions and providing more reviews on demand, without sacrificing accuracy.
With a diverse and rapidly expanding commercial loan portfolio, Commercebank was determined to find an automated solution to enhance its ability to manage credit risk.
“Commercebank has always been ahead of the curve in managing risk across the organization,” said Luis Moran, Vice President Loan Review Manager. “With this new credit risk management software we anticipate significant gains in efficiency, improved access to data, and increased productivity per reviewer.”
“Commercebank is an impressive organization,” said DiCom Executive Vice President Doug Latare. “We are very pleased to have a financial institution of this caliber as a client, and we look forward to working with them to provide the technology solutions they need to continue their growth.”
About Commercebank
Commercebank N.A. is one of the largest privately held banks in South Florida serving its community for over 25 years. The Bank is a wholly owned subsidiary of Commercebank Holding Corp., which in turn is owned by Mercantil Servicios Financieros, the largest provider of financial services in Venezuela, with more than 80 years of experience. Commercebank has assets in excess of $5 billion. The Bank is headquartered in Coral Gables, Florida, and has eleven Banking Centers throughout Miami-Dade County; two in Broward County; one in Manhattan, New York; and one in Houston, Texas. It also has a loan production office in Weston, Florida. The Bank offers a wide variety of domestic, international, personal, and commercial banking services, including investment, trust, and estate planning through its subsidiaries, Commercebank Investment Services, Inc. (CIS) and Commercebank Trust Company, N.A. (CTC). For more information, please visit www.commercebankfl.com.
About DiCom Software
DiCom Software is a leading provider of credit risk management technology solutions for financial institutions nationwide. The company’s product suite, DiCom Credit Quality Solution (CQS), delivers tools to efficiently analyze, review and manage loan portfolios while minimizing risk. DiCom’s solutions are in use today in banks from $500 million to more than $100 billion in assets. For more information, visit www.dicomsoftware.com.
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