Inovatec Systems, a provider of cloud-based software solutions for financial institutions, rebranded its Compass Lending Platform under the JAVELIN name, with the Compass Direct Portal now known as JAVELIN Direct, Compass Asset Finance now known as JAVELIN LOS, and Compass Loan Management now known as JAVELIN LMS. The rebranded name, JAVELIN, was selected to help simplify and streamline the Inovatec brand.

JAVELIN by Inovatec is a lending platform that helps lenders select the right deals while only paying for deals that are booked. The JAVELIN platform encompasses three different aspects of technology:

• JAVELIN Direct streamlines loan applications to lenders. With JAVELIN Direct, vendors and lenders can communicate in real time from the point of an application’s submission, all the way to booking the transaction. JAVELIN Direct offers real-time application updates and open communication across multiple channels, and the JAVELIN Direct portal works both as a stand-alone module and as part of Inovatec’s lending platform.
• JAVELIN LOS is a loan origination system designed to target the right deals. With Javelin Success Pricing, clients pay only for booked transactions. In addition to crediting, auditing and income verification for financing applications, JAVELIN LOS supports self-configurable credit decisioning, tolerance limits and risk parameters with full auto decisioning and scorecard capabilities. JAVELIN’s open API infrastructure was designed to eliminate barriers and expedite connectivity with internal and external data and service providers.
• JAVELIN LMS features electronic document management with loan servicing and after-care for loans, leasing, consumer/commercial customer service and collections, and third party vendor management. JAVELIN Loan Servicing is a loan and lease servicing system. Lenders can manage customer loans, leases, repayments and collections all in one place. Lenders also can manage loan fees, grace periods and penalties while accessing restructuring and refinancing options.

JAVELIN has flexibility built in so clients can update current products or develop new ones. The technology adapts to existing loan products, creating a customizable user experience.

“The rebranding of our Direct, LOS and LMS system was a pivotal decision for Inovatec, highlighting our strengths as a company,” Brendon Aleski, U.S. director of sales at Inovatec, said. “The COVID-19 pandemic has drastically disrupted the way that lenders operate, exposing a need for more effective technology processes that enable quick decisions and reactions to the changing market. Lenders who partner with organizations like Inovatec can pivot their strategies almost immediately, ensuring stability, consistency and accuracy throughout their business operations.”