North Shore Bank Announcement
Orlando, FL., February 1, 2016 – North Shore Bank in Peabody, MA has selected Vanguard Software Group’s LoanVantage to fully automate and enhance its Commercial Loan processing. Tightly integrated with COCC’s INSIGHT core processing system, the selection of LoanVantage will allow North Shore Bank, with assets in excess of $660M, to take advantage of the combination of two industry leading solutions. LoanVantage and INSIGHT will enable North Shore Bank to standardize its Commercial Loan Processes including analysis, underwriting and review, better manage its growing Commercial Loan portfolio and open new market opportunities.
“We are pleased to partner with Vanguard Software Group – a preferred COCC partner. With its seamless integration to INSIGHT and its robust Commercial Lending automation, we expect to improve the processes we have in place today. We will also utilize LoanVantage to deliver new products and services in the future,” said Kevin M. Tierney Sr., President and COO of North Shore Bank. “We look forward to a creative and productive partnership with Vanguard Software Group.”
The bank said that its implementation of LoanVantage will yield greater consistencies and efficiencies as well as opportunities to expand Commercial Loan products and markets. LoanVantage, which is fully integrated to INSIGHT, will automate manual processes required to support the bank’s growing portfolio of Commercial Loans. Bank staff will also have more information at their fingertips to make consistent decisions and greater automation to support complex business lending activities which have become increasingly important to North Shore Bank’s customer base and to their future growth.
Vanguard Software Group has made its mark on the bank technology market in recent years by forming partnerships with a growing number of financial institutions across the country and especially in New England and the Tri-State Area. As innovators in Commercial Loan automation, Vanguard Software Group is a key partner of COCC to deliver a seamless solution to COCC’s Banks and Credit Unions. Commercial Lending is an important strategic initiative for these clients and LoanVantage’s ability to deliver Commercial Loan Lifecycle Management enables them to improve their current processes and expand their market share.