Fintech company LenderClose, known for simplifying and scaling the home equity lending process through its cloud-based platform, announced a rebrand to Coviance. 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.
Initially, the firm was focused on helping lenders navigate around compliance issues. Today, that’s still one of its offerings, but the growing demand for speed in a faster-paced environment has spurred a company metamorphosis.
The rebrand reflects the company’s next phase of growth as a technology partner that automates the lending process through data-driven decision intelligence. This technology empowers community lenders to deliver a superior borrowing experience, efficiently scale home equity volume, and achieve clear-to-close in a matter of hours rather than weeks. The rebrand supports the company’s strategic vision for the lending experience and its accelerated growth in the rapidly expanding home equity lending market.
We shifted our mindset more to automation. We started to focus on what our mission statement was and really the entire user experience, not just the borrower but the back-end officers – your loan officers, your processors, your underwriters – and taking the borrower experience with this experience and somehow through technology and an amazing UI (user interface) integrate those two together to simplify the process.
Omar Jordan, CEO of Coviance
The term Coviance (pronounced koh-vuy-ence) reflects the company’s new emphasis on making the home equity lending process simpler, faster, and more scalable. The word itself, created by the company’s founder Omar Jordan, alludes to collaboration and speaks to the company’s mission of building technology and partnering with customers to solve their business problems. The “via” part of the name invokes a path forward, and the “ance” side references the company’s achievements in helping customers with finance, performance, compliance and more.
With the new brand, the company positions itself as a technology partner providing process automation powered by data-driven decisioning intelligence, enabling credit unions and community banks to deliver an enhanced borrowing experience and go from clear-to-close in hours rather than weeks.
As part of the rebranding, Coviance has acquired the domain name Coviance.com. Having an exact brand match domain name in their industry gives the brand a strong and long-lasting advantage. When coupled with a well-planned marketing strategy in a rapidly growing market, it can lead to regular interest from investors and partners, positioning the company for growth and stability in the industry.
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