Qualtik, a start-up developing software that helps community banks and investment funds analyze their commercial real estate loans in real time, has landed Keystone Bank’s business − and its founder as an advisor.
Designed for community banks and commercial real estate (CRE) lenders, Qualtik’s software, Spark, enables deeper and faster analysis of CRE loans. Among other capabilities, the platform calculates real-time market value for CRE loans as the market changes and provides near-instant feedback on the degree of potential risk facing a lender.
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“In this pivotal time for Qualtik, attracting such a well-known bank and industry leader sets the stage for success,” said Mark Prior, Qualtik CEO.
Keystone Bank is also one of the first clients to utilize Qualtik’s new stress-testing tool. The Austin-based community bank has experienced rapid success since launching in October 2018. Including initial capitalization, it has raised approximately $39 million − and now has more than $345 million in total assets.
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In addition to Keystone’s business, Qualtik has also landed the bank’s Chairman and CEO Jeff Wilkinson, a 30-year industry veteran, as an advisor.
Prior and Wilkinson worked together in previous roles and developed mutual respect for each other’s business acumen, as well as a lasting relationship. Before founding Qualtik in 2019, Prior founded an asset valuation and management services company with 300+ banks as customers.
“Jeff is well-known in the industry as a highly strategic thought leader all the way around − and specifically for leveraging technology and data,” said Prior. “He will provide invaluable feedback and insights to ensure our software is of maximum value to our clients.”
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