ALISO VIEJO, Calif., Dec. 20, 2019 (GLOBE NEWSWIRE) — Global Wave Group, LLC announced that its flagship product Credit Track received high marks in each of the four categories evaluated by Aite Group: Vendor Stability, Client Strength, Client Service, and Product Features among commercial loan origination (CLO) systems. Global Wave Group received especially high marks in Client Service.
Aite Group, an independent analyst firm, evaluated the competitive position of 15 CLO systems in a recent report, Commercial Loan Origination: Evaluating Vendors That Hone The Tip of the Spear, available to Aite Group Wholesale Banking service subscribers.
David O’Connell, Aite Group’s Senior Analyst, said, “One driver of Global Wave’s strong showing was its Client Service score. They had high marks from clients with regard to cost-to-value, management’s ability to deliver on promises, and service and support.” O’Connell went on to say, “Also a strong area for Global Wave was Product Features, where clients also reviewed this vendor favorably.”
In evaluating the competitive position of Global Wave Group, Aite Group cited the following key features and functionality of Credit Track:
- Supporting CLO processes and credit proposals with highly complex relationships among borrowers, collateral and guarantors
- Automatic updating of in-flight credit memos with newly-added or modified data
- A spreadsheeting module that supports automated pass/fail decisions for both standard loan covenants and custom covenants
“From inception, we have sought to build the best commercial credit and lending software for community banks, commercial banks and financial institutions,” said Zubin P. Mehta, Founder/CEO of Global Wave Group. “Aite Group’s recognition of Credit Track’s product performance is a tribute to our expert team members, many of whom have decades of experience in commercial banking.”
Global Wave Group continues to exceed client expectations by delivering quality products and services.
About Global Wave Group
Global Wave Group provides software and consulting services that enable banks to streamline their commercial credit process. Our management team brings together seasoned professionals in the financial services and technology industries. Our solutions are developed by Bankers, for Bankers. Learn more at www.globalwavegroup.com.
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