Moody’s Analytics, a provider of financial intelligence solutions, has added a new functionality to its CreditLens platform to enable lenders make faster decisions.

The new feature offers access to financial data on banks worldwide, in addition to new covenant and better collateral monitoring capabilities.

The technology vendor said that the CreditLens software supports its clients’ automation and digitisation initiatives and help to improve their lending decisions and growth objectives.

The company has integrated data from Bureau van Dijk, which was acquired last year by Moody’s. The new feature allows users to access the BankFocus database, which contains detailed financial information on 44,000 banks across the globe.

As a result of this integration, users can swiftly import a bank’s financial data and get that data automatically spread in the CreditLens tool.

Additionally, the CreditLens solution has also been equipped with new modules which will facilitate seamless creation and tracking of covenants, advanced deal structuring capabilities, improved workflow tools, and on-demand credit memo generation and reporting.

Moody’s Analytics head of lending solutions Elaine Wong said: “We are committed to driving digital transformation that empowers our clients, and enables them to provide superior service to their customers.

“Our investments in the CreditLens platform are informed by research, client feedback, and market demands, and have helped us to make it our most flexible and efficient origination system ever.”