LenderClose Announces Rebrand as Coviance to Support Accelerated Growth and Strategic Vision for the Lending Experience

The company’s evolution as a technology solution is modernizing the home equity lending experience for Credit Unions and Community Banks

LenderClose, a fintech company that is making the home equity lending process simpler, faster, and more scalable through its cloud-based platform, announced a rebrand to Coviance. The new brand reflects the company’s next phase of growth; as a technology partner providing process automation powered by data-driven decisioning intelligence. The transformative technology empowers community lenders to deliver a superior borrowing experience, efficiently scale home equity volume, and go from clear-to-close in hours versus weeks.

“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”

“The evolution of our technology has advanced us into a new era on our mission to perfect the lending experience,” says Omar Jordan, Founder & CEO of Coviance. “Our technology empowers Credit Unions and Community Banks to compete with fintechs, delivering the best borrower experience with a more humanized touch.”

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Home equity lending is experiencing rapid growth but continues to be a friction-filled process, driving accelerated demand for a solution. Founded in 2015 by Omar Jordan, a lending industry vet, Coviance offers community lenders a user-friendly technology solution to lend more efficiently, faster, and at scale.

Coviance has over 425 credit unions and community banks nationwide on its platform. With a tremendous track record of 1,117% 3-year growth. In 2022, nearly $8B in home equity lending transaction volume was processed utilizing Coviance’s technology.

Alongside the rebrand, Coviance’s proprietary technology, Home Equity Express (HEx), automates the home equity loan process through configurable workflows with data-driven decisioning intelligence giving borrowers and lenders the speed and efficiency to go from clear-to-close in hours. The cloud-based platform uses real-time data, best-in-class vendors with pre-built integrations, and intelligent communications that deliver a fluid, elevated experience.

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HEx offers these core features:

• Process Automation – A no-code/low-code workflow automation delivered in the push of a button. Drag and drop workflow configuration process makes automation simple, configurable, and flexible to adjust to lending needs. An API-led technology solution comes with pre-built vendor integrations.
• Communication Automation – An out-of-the-box or configurable intelligent communication hub for borrowers and lenders. Workflow triggered communication and/or notifications based on real-time property data, providing visibility throughout the lending cycle. Mobile-first secure file sharing capabilities providing borrowers the ability to remain informed and deliver lender requirements via the white-labled communication hub.
• Vendor Services – Coviance’s marketplace leverages the buying power of over 425 financial institutions with best-in-class vendors and pre-built integrations. One user interface, login or Single-sign-on (SSO), and a single invoice. As a result, training, managing change, and vendor management becomes drastically simplified.
• Customer Support – A highly rated customer support team is in place offering consultative onboarding assists with custom workflow automations and communications to fit lending process requirements. With access to real-time chat support within the platform, email or via phone, Coviance’s customer success team offers best-in-class hands-on 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,” says Jordan. “We’re putting valuable time back in the hands of the lender and borrower.”