LenderClose Rebrands as Coviance
The new name and brand reflects the real estate and home equity lending fintech’s next phase of growth.
LenderClose, a Des Moines, Iowa-based fintech that secured funding from seven credit unions in 2021, has a new name: Coviance.
According to a Wednesday announcement from the fintech, which provides over 425 credit unions and banks with a real estate and home equity lending technology platform, the new name and brand represents its next phase of growth. Coviance processed more than $7.77 billion in home equity loan and home equity line of credit (HELOC) transaction volume last year according to a 2022 independent research study by MarketWise Advisors, LLC and Coviance data and analytics, the fintech stated on its website, reflecting growth of 1,117% over three years.
“The evolution of our technology has advanced us into a new era on our mission to perfect the lending experience,” Omar Jordan, founder and CEO of Coviance, said. ”Our technology empowers credit unions and community banks to compete with fintechs, delivering the best borrower experience with a more humanized touch.”
Coviance, founded by Jordan in 2015, offers Home Equity Express (HEx), a cloud-based home equity lending platform with features including configurable workflows, data-driven decisioning intelligence, a vendor services marketplace with pre-built integrations and real-time user support.
“We are emerging as the category leader and are committed to advancing technology across the lending journey so that community lenders can focus on what matters most – their borrower’s experience,” Jordan added. “We’re putting valuable time back in the hands of the lender and borrower.”