Industry Profiler Vertical IQ released a credit underwriting solution to assist lenders’ credit decisioning. Vertical IQ has long served financial institutions with a set of plain-English industry overviews for relationship managers. The new service expands its Industry Risks tab and renames it “Credit Underwriting and Risks.” A new industry brief is also available.
The new Credit Underwriting and Risks content includes a proprietary Industry Risk Rating based on account financial risk, exit rates, industry performance during downturns, barriers to entry, and the industry outlook. Other new content includes key industry and economic performance metrics, a Financial Comparison Toolkit that performs custom benchmarking against key financial metrics, and industry-specific credit decisioning considerations. The Financial Comparison metrics are downloadable for sharing with clients and prospects.
“In today’s volatile market, loan credit underwriters are understandably cautious about their lending decisions. The Credit Underwriting and Risks Chapter and Industry Brief are quick ways for bankers and credit professionals to get up to speed on the lending environment for a client’s or prospect’s particular industry.”Vertical IQ CEO Bobby Martin
The new industry brief contains an industry summary, industry risk rating, key performance metrics, financial ratios, important credit underwriting-related considerations, common industry-related risks, and the Financial Comparison Toolkit.
The new Credit Underwriting content is delivered through the desktop application with an API upgrade before the end of the month. The original content will be extended to additional apps and partners in the coming months.
“Great decisions are made by taking something that is complicated and simplifying it to its primary moving parts. When a banker can do that, he or she offers a more clear understanding and a more fluid and productive conversation. Vertical IQ has simplified the process of analyzing industry risks for the commercial banking world. It is long overdue.”David Nicholson, Founder of Credit Training, Inc.
Industry-specific financing topics that were already available in the service include discussions of working capital, capital financing, business valuation, and financial benchmarks.
The new content is available within the core service at no additional charge. However, by extending the value for credit underwriting at banking and commercial finance, Vertical IQ will be improving its seat penetration within those segments.