– The deal with Moody’s Analytics is part of its parent company, Moody’s Corporation’s continued commitment to supporting minority depositories like Carver and fostering economic empowerment in various communities across the country
NEW YORK, November 29, 2021 / PRNewswire / – Carver Federal Savings Bank (“Carver”), a Certified Minority Depository Institution (“MDI”), today announced that it has signed an agreement with Moody’s Analytics to begin integrating the power of its CreditLens solutions to improve the customer experience and provide enhancements such as the ability to apply for credit through a one-click process typically only found in large institutions. Carver plans to fully deploy the CreditLens platform to its business customers in early 2022, including a full line of enhanced small business lending products.
Carver will continue to provide its customers with the same level of personalized banking services that has distinguished MDI since its inception 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 new business avenues for Carver over the next several years to better support small businesses in the communities we serve,” said Richard muskus, Carver Chief Revenue Officer.
“During the COVID-19 pandemic, the country’s racial inequalities have been exacerbated with the health and finances of families of color disproportionately affected,” said Tameka Alsop, Managing Director and Chief of Staff to the CEO of Moody’s. “In an effort to help tackle inequality, we strive to bring about positive change in diverse communities by engaging with minority depositories like Carver. By providing our expertise and our CreditLens solution to Carver, we hope to support their work in a variety of low to moderate situations. -income communities and ultimately help bring greater financial opportunities to Harlem and the communities Carver serves. “
“With the addition of the Moody’s Analytics CreditLens platform, Carver is taking a big step forward with its investment and commitment to technology to streamline the loan application process for our clients,” said Michael T. Pugh, President and CEO of Carver. “The Moody’s Analytics team went above and beyond to help the Carver team integrate this cutting-edge technology so that we can make faster, more informed lending decisions on behalf of our clients. I am confident that with this fintech solution, Carver will be in a better position to increase its loan production to its Minority and Women Business Entrepreneur (“MWBE”) clientele as we enter our next fiscal year. “
About Carver Bancorp, Inc.
Carver Bancorp, Inc. (NASDAQ: CARV) is the holding company of Carver Federal Savings Bank, a federally chartered stock savings bank. Based in Harlem, NY, Carver was founded in 1948 to serve African American communities whose residents, businesses, and institutions had limited access to traditional financial services. The US Treasury Department has designated Carver as a Community Development Financial Institution (“CDFI”) because of its community-based banking services and dedication to the economic viability and revitalization of its local community. Carver is one of the largest banks operated by African Americans and the Caribbean United States. The bank recently expanded its online presence to include checking and consumer savings accounts in nine states, from Massachusetts To Virginia, and Washington DC For more information, please visit the Company’s website at www.carverbank.com. Make 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 changing circumstances. Actual results may differ materially from those included in these statements due to various factors, risks and uncertainties. Further information on these factors, risks and uncertainties is contained in our filings with the Securities and Exchange Commission.
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SOURCE Carver Federal Savings Bank