Automated Financial Systems, Inc. Announces Metropolitan Commercial Bank's Selection of AFSVision® as their Modern Commercial Lending Platform
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Insights
The adoption of AFSVision by Metropolitan Commercial Bank represents a strategic move to enhance the bank's commercial lending capabilities. This decision is likely to streamline their operations, providing a more efficient and modernized approach to handling commercial loans. AFSVision's open API design and advanced servicing capabilities, such as real-time management and integrated solutions for all commercial lines of business, are tailored to meet the growing demand for digital and mobile banking services.
For stakeholders, the implementation of a next-generation platform like AFSVision could translate into improved customer satisfaction due to enhanced service delivery. The bank's ability to offer 24/7 access to commercial lending services might attract new customers while retaining existing ones. Over the long term, this technology investment could lead to higher profitability through increased operational efficiency and potentially higher loan volumes due to improved customer experiences.
Metropolitan Commercial Bank's partnership with AFS for the AFSVision platform may have implications for MCB's financial performance. The investment in a modern commercial lending platform can be seen as a commitment to future growth and may positively influence investor perceptions. By focusing on core banking modernization, MCB is likely positioning itself for competitive advantage in the financial services industry, which could result in market share gains.
From a financial perspective, the costs associated with implementing and maintaining a new system like AFSVision will impact short-term expenses. However, the expected efficiencies and potential revenue growth from enhanced lending services should be evaluated against these costs. Investors will be interested in the projected return on investment and how this move aligns with MCB's strategic financial goals.
The integration of AFSVision into Metropolitan Commercial Bank's infrastructure is a complex undertaking that requires careful planning and execution. The platform's innovative features, such as dashboards, workflows and data analytics tools, are designed to support the bank's digital transformation initiatives. Successful implementation will likely hinge on the bank's ability to adapt its processes and train its staff effectively.
Moreover, the robustness of AFSVision's risk management and exposure tracking capabilities will be crucial for MCB to maintain regulatory compliance and manage its lending risks effectively. The bank's expertise in commercial lending will be a vital factor in customizing the platform to suit its unique needs, which may set a precedent for other regional-sized institutions considering similar technology upgrades.
"AFSVision is one of the leading commercial lending platforms on the market, and it is well suited to accelerating our Core Banking Modernization project." said Dixiana Berrios, Executive Vice President and Chief Operating Officer at Metropolitan Commercial Bank. "In addition to meeting all our current needs, this platform will enable us to execute our ongoing and future strategic initiatives. Metropolitan Commercial Bank's expertise and experience will enhance AFSVision's implementation, enabling continued growth, improved client experience, higher profitability, and stronger risk management."
AFSVision is the next-generation platform in commercial lending systems offered by AFS. An integrated solution for all commercial lines of business, its innovative open API design supports end-to-end processing with a unique suite of integration capabilities. AFSVision provides advanced servicing capabilities including dashboards, workflows, accounting, pricing flexibility, collateral management, escrow servicing, exposure tracking, graphical data visualizers with a built in data analytic tool. Enabling real-time management of any size commercial lending portfolio, AFSVision provides a unified banking experience, empowering financial institutions with 24/7, digital and mobile, real-time access to better serve their customers.
"We are excited to partner with MCB and honored AFSVision's modern, next-generation capabilities will play a critical role in their digital transformation initiative," said Rick Bare, CEO and President of AFS. "AFSVision is perfectly aligned with MCB's priorities and will enable the Bank to focus on their core business while streamlining processes, creating efficiencies, and enabling first class customer experiences—now and into the future. We believe the ability to support MCB further demonstrates our goal of offering a sophisticated commercial loan system to regional-sized institutions."
About Metropolitan Commercial Bank
Metropolitan Commercial Bank (the "Bank") provides a broad range of business, commercial and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities, and local government entities.
Metropolitan Commercial Bank was named one of Newsweek's Best Regional Banks and Credit Unions 2024. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2023 by loan category and asset size for commercial banks with more than
The Bank is a
For more information, please visit the Bank's website at MCBankNY.com.
About AFS
AFS is the global leader in providing real-time, lending solutions to the world's top-tier institutions as well as regional and de novo clients. Solely dedicated to the financial industry, AFS is uniquely positioned to support our client's business and technology transformation, evidenced by our solutions processing more than
Rene Baron Coady, AFS
Director of Marketing
rcoady@afsvision.com
+1 484 875 1120
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SOURCE AFS
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