Strategic Link Partners with Abrigo, Expert in CECL Implementation
Starting in early 2023, credit unions will be required to implement the Current Expected Credit Loss (CECL) standard for estimating loan losses, and early preparation is key for a smooth transition.
Strategic Link has partnered with Abrigo, a leading technology provider of compliance, credit risk, lending, and asset/liability management solutions that credit unions use to manage risk and drive growth.
Abrigo’s Portfolio Risk Solutions prepares managers to quickly report on their portfolio and use that insight to determine their credit union’s lending and risk management strategy. Additionally, Abrigo offers the only ABA-endorsed Current Expected Credit Loss (CECL) solutions to provide confidence and flexibility with expected loss calculations.
“With the ever-changing regulatory compliance requirements that credit unions must follow, Abrigo is a great partner and resource to have,” said Cameron Smith, VP, Strategic Partnerships and Resources. “We’re pleased to partner with them to provide Northwest credit unions with a data-driven suite of Enterprise Risk Management solutions.”
The new Strategic Link partner is diving into the complexities of the CECL transition during a webinar tomorrow, Aug. 18, from 11 a.m. to noon PDT (noon to 1 p.m. MDT). The Abrigo team will share how its CECL solution can help credit unions:
- Archive loan-level data and begin scenario planning
- Run parallel calculations with the incurred loss model
- Supplement credit loss (or lack thereof) with proprietary data and research
- Automate reporting and audit tracking
Learn more and register online today.
Abrigo also provides a variety of solutions in the following areas:
- Lending and Credit
Sageworks Lending and Credit Risk Solutions makes it possible to grow your loan revenue through efficient, digital workflows while also reducing manual errors and inconsistencies. The web-based, user-friendly platform provides your staff with the time needed to focus on relationships and value-added analysis.
- Asset/Liability Management
Abrigo ALM is designed to help you optimize net interest margin, assess risk exposure, and develop contingency funding plans. Fully integrated with other Abrigo solutions, this ALM model gives you a seamless view of data and reporting across your institution.
- Financial Crime
A powerful anti-money laundering and fraud detection solution to identify and help you resolve suspicious activity, BAM+ is the only solution that can be tailored to fit your unique needs and risk profile. Abrigo’s scenarios combine multiple forms of financial crime detection logic, giving you more confidence in your BSA program and stronger chances of detecting financial crimes.
“It is meaningful to us as a software company to gain the acknowledgment and trust of industry leaders like the Northwest Credit Union Association,” said Jay Blandford, President of Abrigo. “Ultimately, our goal is to serve community financial institutions by providing the best tools we can to help them succeed — a goal I know we share with NWCUA.”