NEW YORK, Nov. 29, 2021 /PRNewswire/ -- Carver Federal
Savings Bank ("Carver"), a certified Minority Depository
Institution ("MDI"), announced today that it signed an agreement
with Moody's Analytics to begin incorporating the power of its
CreditLens solutions to improve customer experience and provide
enhancements like the ability to apply for credit through a
one-click process typically only found at larger institutions.
Carver expects to fully roll out the CreditLens platform to its
business clientele in early 2022, including a full suite of
enhanced small business loan products.
Carver will continue to provide its customers with the same
level of personalized banking services that have distinguished the
MDI since its founding in Brooklyn
and Harlem in 1948. The new platform will also improve the loan
application and credit-risk assessment process for retail customers
in the future.
"Moody's Analytics proprietary fintech solution has the
potential to open up new avenues of commercial business for Carver
over the coming years to better support the small business in the
communities we serve," said Richard
Muskus, Chief Revenue Officer of Carver.
"During the COVID-19 pandemic, the nation's racial inequalities
were exacerbated with the health and finances of families of color
disproportionally hurt," said Tameka
Alsop, Managing Director and Chief of Staff to the CEO at
Moody's. "In an effort to help address inequalities, we are
working to effect positive change in diverse communities by
engaging with Minority Depository Institutions like Carver. Through
providing our expertise and CreditLens solution to Carver, we hope
to support their work in diverse low- to moderate-income
communities and ultimately help bring greater financial
opportunities to Harlem and the communities that Carver
serves."
"With the addition of Moody's Analytics CreditLens platform,
Carver is taking a major step forward with its investment and
commitment to technology to streamline the loan application process
for our customers," said Michael T.
Pugh, President and CEO of Carver. "The Moody's
Analytics team has gone above and beyond to assist the Carver team
in integrating this cutting-edge technology so that we can make
faster and better-informed lending decisions on behalf of our
customers. I am confident that with this fintech solution,
Carver will be in a better position to increase its loan production
to its client base of Minority and Women Business Entrepreneurs
("MWBEs") as we move into our next fiscal year."
About Carver Bancorp, Inc.
Carver Bancorp, Inc.
(NASDAQ: CARV) is the holding company for Carver Federal Savings
Bank, a federally chartered stock savings bank. Headquartered in
Harlem, NY, Carver was founded in 1948 to serve African-American
communities whose residents, businesses, and institutions had
limited access to mainstream financial services. The U.S. Treasury
Department has designated Carver as a Community Development
Financial Institution ("CDFI") because of its community-focused
banking services and dedication to its local community's economic
viability and revitalization. Carver is one of the largest African-
and Caribbean-American managed banks in the United States. The Bank recently expanded
its online presence to include consumer checking and savings
accounts across nine states, from Massachusetts to Virginia, and Washington, D.C. For further information,
please visit the Company's website at www.carverbank.com. Be sure
to connect with Carver on Facebook, LinkedIn, and Twitter.
Certain statements in this press release are
"forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may differ
materially from those included in these statements due to a variety
of factors, risks, and uncertainties. More information about
these factors, risks, and uncertainties is contained in our filings
with the Securities and Exchange Commission.
Media:
Michael Herley
for Carver
203.308.1409
mediainquiries@carverbank.com
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SOURCE Carver Federal Savings Bank