Real Estate Fintech Firm Qualtik Lands New Client and Advisor
Austin, Texas, January 22, 2021 / PRNewswire / – Qualtik, a startup development software that enables community banks and mutual funds to analyze their commercial real estate loans in real time, has landed the business of Keystone Bank – and its founder as an advisor.
Qualtik’s software, Spark, is designed for community banks and commercial real estate lenders, and enables deeper and faster analysis of CRE loans. Among other things, the platform calculates the market value for CRE loans in real time as the market changes and gives near-instant feedback on the level of potential risk to a lender.
“At this crucial time for Qualtik, attracting such a well-known banking and industry leader creates the conditions for success,” he said Mark Prior, Qualtik CEO.
Keystone Bank is also one of the first customers to use Qualtik’s new stress test tool. The Austin-based Community Bank has seen quick wins since its inception October 2018. Including the initial capitalization, it has increased approximately $ 39 million – and now has more than $ 345 million in total assets.
In addition to Keystone’s business, Qualtik has also won the bank’s chairman and CEO Jeff Wilkinson, a 30 year old industry veteran, as a consultant.
Prior and Wilkinson worked together in previous roles, developing mutual respect for each other’s business acumen as well as a lasting relationship. Prior to founding Qualtik in 2019, Prior founded an asset valuation and management company with more than 300 banks as clients.
“Jeff is known in the industry as a highly strategic thought leader – especially when it comes to leveraging technology and data,” said Prior. “He will provide valuable feedback and insights to ensure our software is of the greatest value to our customers.”
For his part, Wilkinson says he will do everything possible to make Qualtik a success.
“Not only does Qualtik provide a solution that banks need, but its platform is financially accessible to community banks and CRE investors,” said Wilkinson.
Currently, Prior Notes uses that many community banks use spreadsheets or one-off platforms to analyze and evaluate their portfolios. These methods tend to be error-prone and inefficient. Banks often spend 80 percent of their time collecting the data and only 20 percent of their time analyzing it. Qualtik wants to reverse this equation.
“Our goal is to help banks get more brain power from their best analytical minds,” said Prior.
According to Wilkinson, Qualtik’s services “couldn’t be more important right now. Regulators are strongly encouraging banks to improve their stress tests. This is a necessary product that will be introduced at a critical time.”
About Qualtik
Qualtik’s software provides CRE lenders with real-time analytics with powerful, flexible filtering capabilities. Double in Austin and Portland, OregonThe fintech company’s stress testing software is more configurable than any other tool available today. Stress tests and reports are created in real time. Qualtik helps CRE lenders expedite and deepen their portfolio analysis, reporting and risk management. Website: www.qualtik.com.
Via Keystone Bank
Keystone Bank was launched in 2018 with an entrepreneurial – even maverick – approach to community banking that really puts the customer first. The head office is in Beehive, Texas, about 20 minutes west of Austinand it has additional offices in the city center Austin and Ballinger, Texas. Keystone Bank’s services include private banking, commercial real estate, residential real estate and small business lending. His name is a nod to his goal of being the financial foundation for his customers by being great listeners and even better problem solvers. Website: www.keystone.bank.
Qualtik media contact: [email protected] or 800 503 1450
Keystone media contact: Mary Alice Kaspar or 512 963 1096
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