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VeriPark recognized in Gartner’s 2024 Market Guide for Commercial Loan Origination Solutions

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  3. VeriPark recognized in Gartner’s 2024 Market Guide for Commercial Loan Origination Solutions

September 9, 2024

We are happy to announce that VeriPark is named as a representative vendor in Gartner's latest Market Guide for Commercial Loan Origination Solutions. VeriPark's Omni-product omni-channel loan origination solution, VeriLoan, is mentioned in the guide.

VeriPark has been recognized by the world's leading research and advisory company Gartner as a representative digital banking vendor in its recent Market Guide for Commercial Loan Origination Solutions.

The guide aims to provide useful insight on commercial loan origination solutions to CIOs in financial institutions who are responsible for evaluating solutions based based on factors such as composability, emerging technologies and user experience.

According to the guide: "CLOSs enable lending institutions to manage the end-to-end process of opening lending products, from application through underwriting and closing, for businesses of different sizes. These can be consumed as on-premises software, cloud-based SaaS, integrations and API, and white-labeled solutions.”

CLOSs are software tools crafted to simplify the evaluation, approval, settlement, and documentation of business loans. They act as a unified platform for lenders to evaluate creditworthiness, gather and analyze financial data, automate document workflows, and enhance the commercial lending process.

CLOS platforms address essential business challenges for lenders by streamlining loan application processing, risk management, collateral handling, and boosting operational efficiency. These systems help resolve issues like prolonged approval times, manual data entry, complicated financial analysis, and burdensome documentation requirements.

To be recognized as a representative vendor, VeriPark met Gartner's stringent qualification criteria, demonstrating must-have capabilities such as application intake, processing and storage, underwriting, approval and closing, document management, reporting and analytics, and compliance.

VeriLoan provides an end-to-end commercial and corporate loan origination process on a single platform and offers a flexible, process-managed approach that supports a fully customized loan origination engine helping to enhance customer experience.

VeriLoan Commercial & Corporate Loan Origination covers portfolio management, risk assessment, compliance with regulatory norms, and transparent lending process to address the competitive business environment and changing regulatory requirements.
 

Source

Gartner, Market Guide for Commercial Loan Origination, Agustín Rubini, Derek Frost, 9 September 2024.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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