Huron Consulting Group, a provider of business consulting services, has launched Bank Monitor, a web-based application that provides users with access to key data on banks.
Huron said that Bank Monitor will provide data gathered from public sources and synthesise it. Users will be able to evaluate a bank’s performance based on more than 20 financial indicators summarising exposure/asset quality, liquidity, growth trends, profitability, reserves and capital. Huron added that other key ratios will be added in response to market feedback. This tool will also allow users to compare institutions of similar size and geographical location. Moreover, banking data, obtained from quarterly reports filed with government regulators, will be updated quarterly as available to provide users with the most up-to-date information.
James Roth, CEO of Huron Consulting Group, said: “Recently the banking industry marked the unfortunate milestone of the 100th bank failure of 2009. We are launching Huron’s Bank Monitor to help users gain a better understanding of why certain banks have failed, the current state of the financial institution marketplace, and the extent of challenges that banks face as the economy struggles to rebound.”
David Moffat, managing director of Huron Consulting Group, said: “Huron’s Bank Monitor is taking public data and presenting it in a user-friendly analytical layout, making the information more accessible and meaningful. This type of data will allow users to monitor developments within the banking sector and more fully appreciate the overall soundness of our financial institutions as well as illustrate actions taken to address present and emerging challenges.”
