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Orlando, Fla., (October 14, 2007) --- DiCom Software, a leading provider of credit risk management technology solutions for financial institutions, announced today that MetaBank has licensed two of Dicom’s credit quality software applications: Portfolio Analysis and LRS Enterprise. The DiCom products will replace manual, labor-intensive processes such as spreadsheets that the bank has been using to perform analysis and loan review functions.
“It became increasingly clear that we needed to cut down on the time it took to conduct the loan review process and analyze portfolio information for quarterly risk assessments,” said Josie Harmacek, MetaBank Vice President and Credit Review Manager.. “We were impressed with DiCom’s built-in reports and the ability to get the information we needed to provide management with a snapshot of the findings on a daily or weekly basis. We will be able to export findings right into our reports, and we anticipate saving significant time and energy versus creating the tables ourselves.”
Through the use of the DiCom risk management products, MetaBank also expects to sharply decrease the time spent following up on lender responses, since lenders will get a list of findings by category. This will make the line sheet discussion more efficient.
The two applications licensed by MetaBank are:
- Portfolio Analysis - provides immediate access to current and historical credit information, delivering enterprise-wide analytics on loan portfolio composition and risk performance over time. It also features a query builder that generates a graphical view of data for simplified management reporting.
- LRS Enterprise - enables loan reviewers to obtain a thorough view of the credit quality of their entire portfolio at any point during the review process.
“The DiCom products directly address these issues for MetaBank,” said Doug Latare, executive vice president of DiCom. “The bank desired to streamline its credit risk management and loan review analysis processes without significantly increasing overhead. By reducing labor intensive processes through the system’s intuitive automation capabilities, MetaBank will rapidly achieve a strong return on their investment.”
About MetaBank
MetaBank is a federally chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc.® is the bank holding company for MetaBank, MetaBank West Central, Meta Payment Systems®, and Meta Trust Company®. MetaBank has four market areas: Northwest Iowa; Central Iowa, Sioux Empire and Brookings in South Dakota. Meta Payment Systems and Meta Trust Company are headquartered in Sioux Falls, South Dakota. MetaBank West Central is a state-chartered commercial bank in the West Central Iowa market. Meta Financial Group is traded on the NASDAQ-Global Market: CASH. For more information visit http://www.metacash.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 the preferred choice of today’s best credit risk personnel at banks across the U.S. ranging in size from $500 million to more than $100 billion in assets. For more information, visit www.dicomsoftware.com
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