|ALLL solution applied to core processor|
WebEquity Solutions and Computer Services Inc. partnered to offer a software product to automate the allowance for loan and lease losses methodology.
CSI's core processing solution, NuPoint, delivers an integrated banking infrastructure to meet the diverse demands of financial institutions. Through NuPoint, CSI empowers its customers to maximize access to the data analytics needed for increased profitability and performance. To further enhance data availability, CSI has selected WebEquity Solutions to offer CSI customers WebEquity ALLL, which provides the analytical tools banks need to accurately assess their loan loss reserve requirements. This solution also allows institutions to document their ALLL methodology, decision process, year-to-year trends and environmental factors.
"CSI understands the critical role data analytics plays in helping financial institutions make more strategic and profitable decisions," says Steve Powless, CEO at CSI. "The WebEquity ALLL software will provide relevant trend data and peer comparisons so that banks of any size can effectively manage risk and compete with larger institutions."
With WebEquity ALLL, institutions have the capabilities they need to:
Comply with regulatory guidelines, including FFIEC audits, ASC 450 (FAS 5), ASC 310 (FAS 114), generally accepted accounting procedures (GAAP), interagency policies, and examiner expectations.
Configure the solution to their bank's specific ALLL process, including loan portfolio segmentation, impaired loan worksheets, environmental and management adjustments, and historical weighting.
Compare their bank's ALLL with peers and historical trends to ensure reserves are forward-looking, consistent with peer performance and grounded in historical results.
Maintain comprehensive reporting and in-depth documentation to ensure transparency with boards of directors, executive management, auditors and examiners.
"A bank's ALLL methodology is a highly scrutinized area of concern by regulators and auditors. That is largely because most institutions still use manual processes and Excel to calculate the loss reserves, which increases the risk of costly calculation errors, inadequate documentation and inconsistencies throughout the process," says Doug McGregor, CEO, WebEquity Solutions.
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