PACE:Prowess Application for Credit Evaluation

Prowess Application for Credit Evaluation, or PACE, is a solution principally for credit officers in commercial banks to help them evaluate corporate credit proposals.

It helps in the evaluation process by delivering detailed financial statements of the last 10 years in a standardized format to enable comparability of the financial data over time. Credit officers are able to see the trends in financial performance of their portfolio companies.

A very useful feature of PACE is that it facilitates easy and comprehensive comparison of the performance of a company with its peers and with the appropriate industry benchmarks. This is where the large database becomes useful to the bank.

Banks can customize the service to their specific requirements. CMIE creates private custom-made reports for banks and also adds companies to suit the requirements of banks.

The objective of the PACE service is to make the work of the credit officers easier by removing the tedium and adding the benefits of a readily available large database.

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