Bank of Montreal has teamed up with NewsEdge Corp. to enhance a desktop credit analysis system for credit officers.
The enhancement is meant to alert them when new information on a customer or applicant has been added to a file.
"At Bank of Montreal we rely on NewsEdge to alert us to red flags as we go through our credit-review process," said Sylvia Ehrlund, project manager, solutions and applications.
"Being able to view news as an integral part of their workflow has literally shaved hours off the time our credit managers need to complete the process and has made them far more effective and efficient," she said.
NewsEdge tools are being used by eight of the top 10 banks in North America, including Chase Manhattan Corp.