FARIN Releases New Version of iPrice: LoanEDGE - A Cost Effective Loan & Relationship Pricing Model
Fitchburg, WI., April 11, 2012 – Farin & Associates, Inc., one of the leading consulting firms providing retail product-pricing models, core deposit analysis and asset/liability management programs to financial institutions, announced the release of the newest member of the iPrice family: LoanEDGE. iPrice LoanEDGE is the fourth product from the FARIN iPrice Family; the other three are: iPrice Deposits, iPrice Loans and iPrice Core Analytics.
LoanEDGE is designed to be an affordable loan and relationship pricing model. Its intent is to bring structure and discipline to your institution’s pricing process. LoanEDGE is available in two versions: a ready-to-use out of the box model or it can be customized by the individual institution to fit its particular needs. FARIN’s iPrice LoanEDGE model is an easy to use web-based tool, which gives the institution quick and accurate pricing. The model can be used by both front-line staff and management. It arms them with the data that will help to build stronger, deeper, relationships and to make more profitable business decisions.
Bruce Hinkle, Business Development Executive at FARIN, stated “We have been offering loan and deposit pricing models for years, but with the tight regulatory environment and the fact that we anticipate regulators requiring better documentation for your loan methodology, it made sense for us to offer this new loan and relationship model. It allows you to look at the profitability of the loan from four different angles and to look at the total relationship, not just one product.”
Ches Marks, Senior Sales Executive and National Sales Director at FARIN added, “Almost every day I have a conversation with someone about their loan and relationship pricing. With the squeeze on margin, everyone wants to make sure the business they are putting on the books is profitable and they are strengthening their relationships. Most bank and credit union executives want a tool to help them with their pricing, but don’t want to spend too much. That’s why so many CFOs’ are using some kind of home grown spread sheet. With LoanEDGE, they now have a tool to increase their profitability and evaluate the total relationship with out spending $20,000 to $40,000. The pricing for LoanEDGE starts at $6,500.”
About Farin & Associates, Inc. Farin & Associates, Inc., was founded in 1985. FARIN is a financial-services consulting firm that provides asset/liability management solutions, retail product-pricing solutions, and core deposit analysis to banks, thrifts, and credit unions nationwide. For more information about Farin & Associates, Inc. visit www.farin.com or call 800.236.3724.
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