Cross River Bank, located in Teaneck, New Jersey, was in need of a “loan servicing software that would complement our core processor,” according to David Tilis, Director of Loan Operations/Servicing. During their search, Cross River Bank could find very few options that met their parameters. Not only did Cross River Bank need a solution that was secure and reliable, they needed a platform that was affordable and robust enough to integrate with other programs necessary for fiscal analysis. After interviewing a number of software firms, they chose CLOUDecision because of its built-in efficiencies that are targeted to the loan servicing industry.
After recognizing their need for a risk management software for commercial real estate, and considering many options, Cross River Bank chose to implement CLOUDecision Commercial Real Estate Decisioning and CLOUDecision Advanced. These two products enabled Cross River Bank to effectively monitor their growing portfolios without the need to hire additional staff. This allowed the bank to keep its personnel at a manageable level so their services could remain affordable.
Through the use of CLOUDecision’s cloud-based software, Cross River Bank was able to review data and pinpoint the trends of a particular loan within their portfolio at any given point in time. Additionally, focused tools provided the option to drill down to obtain more information about a loan so any potential issues could be proactively addressed.
The use of CLOUDecision has given Cross River Bank the ability to obtain the data they need to effectively make commercial real estate decisions, while remaining compliant. In addition, they are now able to report to the board in a clear and concise manner and make understand every aspect of the portfolio.
CLOUDecision is committed to providing banks and credit unions with the tools needed to make sound financial decisions. Whether your institution is large or small, CLOUDecision offers robust, customized, and agile solutions that include cutting-edge features that can be integrated with other financial applications. For more information on how CLOUDecision can provide you with secure, agile, and affordable solutions, contact us today to schedule a free demo.