ICBA Selects PayNet as the Newest Preferred Service Provider


Washington, D.C. (July 7, 2016)—The Independent Community Bankers of America® (ICBA) today announces that PayNet Inc., a credit and risk assessment expert, has been selected as its newest Preferred Service Provider.  PayNet’s Market Conditions Reports and Credit History Reports help community banks improve loan decision-making, streamline operations, and identify changing circumstances that may put existing loans at risk.

“PayNet’s data analytics are ideal for community banks enhancing their commercial lending operations,” said Dan Clancy, ICBA executive vice president of services. “These informative reports enable bankers to quickly and confidently approve loan applications based on the borrower’s credentials and regional industry trends.”

The PayNet Market Conditions Reports provide a localized market intelligence summary that includes information on the industry and regional trends using real-time and predictive analytics. PayNet’s Credit History Reports provide a summary of the borrower’s past transaction history—including collateral type, financing product, term and payment frequency, repayment status, and more—to help assess creditworthiness. The data comes from the richest and largest collection of commercial loans and leases, encompassing more than 23 million current and historic contracts submitted by participating banks and other commercial lenders. These interactive reports can be downloaded at any time over a secure Internet connection.

“Community banks are an important national asset, providing essential services to underserved rural and urban markets,” said William Phelan, president of PayNet. “PayNet is very excited to engage in this market segment by providing access to the data and analytics that larger institutions leverage to streamline operations and avoid more losses.”

For more information about this program, please visit www.icba.org/psp.

About ICBA
The Independent Community Bankers of America®, the nation’s voice for more than 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.

About PayNet
PayNet Inc. is the premier provider of risk management tools and market insight to the commercial credit industry, collecting real-time loan and lease information from leading U.S. lenders and turning it into actionable intelligence. The company's proprietary database -- updated weekly -- is the richest and largest collection of commercial loans and leases, encompassing over 23 million current and historic contracts worth over $1.3 trillion. Using state-of-the-art analytics, PayNet converts raw data into real-time market intelligence and predictive information that subscribing lenders use to manage risk, lower operating costs, originate more, and improve their business strategy. For more information visit paynetonline.com and sbinsights.net.