Austin, Texas, January 27, 2023 /PRNewswire/ — Abrigo, a leader in compliance, credit risk and lending solutions for financial institutions, today announced the acquisition of DiCOM Software, LLC, a leading provider of automated credit risk management software.
The transaction is Abrigo’s third acquisition in five months and second in one month, and furthers the company’s strategy to deliver superior software and services to its growing customer base of 2,400 financial institutions. continue.
combination of orlando, floridaBased in Abrigo, DiCOM Software and Abrigo provide financial institutions with access to best-in-class loan review and portfolio analysis solutions. These solutions are essential to protect asset quality in the face of increasing pressure on borrowers.
DiCOM Software’s solutions give financial institutions unprecedented control over their overall credit risk management functions, improving efficiency. Built to quickly identify emerging risks within a portfolio, they enable financial institutions to adjust risk management actions in response to changing market and business needs. Its solutions add significant functionality and efficiency to a financial institution’s entire credit risk management process, including risk assessment, scoping, workflow management, borrower review and reporting.
“Abrigo’s credit risk management assistance has strengthened financial institutions for the better part of 20 years, but as we grow a key part of our strategy is to ensure that we are responsive to the market pressures our clients face. .DiCOM Software helps us do that,” said Jay Blandford, CEO of Abrigo. “Combined with Abrigo’s existing lending and portfolio risk offerings, DiCOM’s robust solutions will help our clients prepare for the full range of potentially evolving credit risks.”
Built by and for credit risk professionals, DiCOM Software’s solutions replace inefficient and time-consuming methods used by banks, agricultural financiers, credit unions, and third parties. of service providers deliver measurable results.
Steve WertDiCOM Software’s President and CEO said: We offer unmatched service in the market. This acquisition he is a perfect fit for DiCOM and is a natural evolution. ”
Using Abrigo’s award-winning loan origination system and DiCOM Software’s web-based solution, loan screening staff can easily perform effective risk assessments, increase loan screening productivity, and eliminate siled You can improve your credit quality without re-entering the data stored in the database. Customizable worksheets, workflows, and high-impact reports for administrators help institutions achieve double-digit efficiency gains and spend more time on effective, consistent reviews . With Abrigo’s award-winning customer service and top-notch cybersecurity and implementation, DiCOM’s customers can manage fewer vendors while gaining additional resources to manage the full life of the loan.
DiCOM Software joins a strong and growing portfolio that continues to increase the value Abrigo brings to both customers and the industry. In December, Abrigo expanded into CECL, modeling, verification and evaluation services with the acquisition of influential solutions and services provider Valuant. In August, Abrigo opened his BankLabs build + pay A construction loan administration and financing solution that creates an end-to-end construction initiation, management and management platform that drives additional interest income and manages risk.
“Our partnership with The Carlyle Group and Accel-KKR accelerates Abrigo’s investment in our people, products and services to our customers. We are pleased to welcome DiCOM Software team members to the Abrigo family. We are committed to providing innovative and highly effective credit management solutions that enable financial institutions and the communities they serve to thrive.”
Abrigo enables U.S. financial institutions to fight financial crime, increase loans and deposits, and support their communities through technology that optimizes risk. Abrigo’s platform centralizes institutional data, creates digital user experiences, ensures compliance, and delivers efficiencies for scale and profitable growth. For more information, please visit abrigo.com. Follow Abrigo on social media using @WeAreAbrigo.
About DiCOM software
Founded in 1999, floridaDiCOM Software, based in , is a leading provider of automated credit risk management software. Dedicated to providing credit risk management solutions that enable financial institutions to achieve dramatic returns, the software is used to identify risks in over 1,000 aggregated commercial loan portfolios. $500 billion.