Enhanced Investments - Financial Portal

Carver Federal Savings Bank to Leverage Moody's Analytics CreditLens Solution to Elevate Customer Experience for its Business Clientele

Published: 2021-11-29 15:00:00 ET

- The agreement with Moody's Analytics is part of the ongoing commitment by its parent company, Moody's Corporation, to support Minority Depository Institutions such as Carver and foster economic empowerment in diverse communities throughout the nation

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 Carver203.308.1409mediainquiries@carverbank.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/carver-federal-savings-bank-to-leverage-moodys-analytics-creditlens-solution-to-elevate-customer-experience-for-its-business-clientele-301432599.html

SOURCE Carver Federal Savings Bank

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.