PAYNET ADDS VALUE TO ASSETPOINT COMMUNITY

ARLINGTON, VA (July 8, 2014) – Bank Assetpoint, a nationwide marketplace for bank assets that provides access to new assets, services, and opportunities, today announced that PayNet has become part of the Assetpoint CommunitySM. PayNet, Inc. is a leading data analytics company providing credit ratings on small businesses so that lenders can make better decisions. The Chicago-based firm maintains the world’s largest proprietary database of small business loans, leases, and lines of credit, which encompasses over 22 million contracts worth more than $1.2 trillion.

“PayNet is a key credit risk management resource for many small and mid-sized banks that participate in Bank Assetpoint,” said Richard Walter, Senior Managing Director of Promontory Interfinancial Network and head of Bank Assetpoint. “We are delighted that this innovative company has chosen to work with us.”

PayNet’s AbsolutePD® (APD) risk management solution can help banks to attract and retain valuable clients, as well as to provide insight into future risk trends by forecasting the future credit risk of small business borrowers by region, industry, account, and portfolio levels. APD complements a lender’s current risk-rating system in a variety of applications, including migration monitoring, ALLL calculations, concentration analysis & benchmarking, loan review & renewals, and stress testing.

“Small commercial loans, $2.5 million or less, are the fastest growing segment of commercial banking representing a high ROI opportunity, but they are also the least transparent category of loans. Lenders are continually looking for ways to grow C&I lending, but they struggle to reach customers in their footprint because they lack the knowledge to underwrite and manage C&I loans. PayNet is positioned to provide such information to banks,” said Doug Cleveland, Vice President of Marketing at PayNet. “As a service provider in the Assetpoint Community, we are able to interact with Bank Assetpoint participants, mostly banks, by providing them with PayNet’s valuable risk management solutions and data in a number of ways.”

Promontory launched the Bank Assetpoint service nationally in October 2013. More than 7,000 participants – including more than 1,300 banks, five of the six largest national commercial real estate brokerage firms, and thousands of buyers – have become participants in Bank Assetpoint. Eligible participants are able to post or search listings for a wide range of performing and non-performing bank assets, including commercial and industrial loans, consumer loans, real estate loans, and other types of loans and bank-owned commercial real estate. In addition to being a marketplace for assets, Bank Assetpoint serves as a hub for connections. Banks and other participants can connect though the Assetpoint Community with brokers, loan sale advisors, and other specialty service providers that can facilitate transactions and provide other valuable solutions.


About Bank Assetpoint:

Bank Assetpoint is operated by Assetpoint Services, LLC, a wholly owned subsidiary of Promontory Interfinancial Network, LLC, whose founders include Eugene Ludwig, Alan Blinder, and Mark Jacobsen to provide banks with innovative solutions. Over the past decade, more than 3,000 financial institutions have participated in Promontory’s Network by using one or more of its deposit allocation services, such as CDARS®, the Certificate of Deposit Account Registry Service®; ICS®, the Insured Cash Sweep® service; and IND®, the Insured Network Deposits® service. These institutions include approximately 40 percent of the banks in the United States. Assetpoint Services, LLC does not, merely by permitting the listing of an asset or the identification of a third-party provider of services on the website or otherwise, endorse the asset, the party posting information about it, or the third-party provider, as applicable.


About PayNet Inc:

PayNet Inc. is the leading provider of credit ratings on small businesses enabling lenders to achieve optimal risk management, growth and operational efficiencies. PayNet maintains the largest proprietary database of small business loans, leases and lines of credit encompassing over 22 million contracts worth over $1.2 trillion. Using state-of-the-art analytics, PayNet converts raw data into real-time marketing intelligence and predictive information that subscribing lenders use to make informed small business financial decisions and improve their business strategy.


Media Contact:

Phil Battey
Senior Vice President, External Affairs
Promontory Interfinancial Network, LLC
pbattey@promnetwork.com
(703) 292-3357