Abrigo’s Post

Transcript

Acquiring a bank or credit union is complicated, and recognizing accretion income can be a headache. Manual processes and spreadsheets are risky and slow, and core systems often fall short and aren't fully gap compliant. Mismanagement of this process could lead to capital shortfalls, lower profitability, and potentially increased regulatory scrutiny, as inaccurate financial statements could mask underlying risks. Abrigo Income Recognition empowers you to ensure GAP compliance with confidence when accounting for purchase assets and origination costs and fees. Here's how it works. Financial institutions provide their required loan data to our Abrigo integration team, ensuring their month end data is ready to be processed. Within the income recognition product, institutions configure their segmentation, add general Ledger accounts, and map those accounts to the appropriate segments. Once this setup is complete, it's rarely necessary to update saving time down the road. The next step is for the bank to create an acquisition and upload the loan valuation data for each acquired portfolio. After all data is uploaded and your settings and GL accounts are configured correctly, running an income recognition scenario is as easy as 123. You simply create a new scenario, select your file date and go. Once the scenario is complete, you can quickly view summarized results right in the application or dig deeper into the details using our advanced reporting feature. And that's it. In just a few steps, you're ready to analyze income recognition for your acquired loan portfolios with ease. Abrigo Income Recognition ensure GAP compliance with confidence to support your M and A strategy.