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Abrigo acquires DiCOM Software, expanding capabilities and increasing scale 

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Austin, Texas, January 27, 2023Abrigo, a leader in compliance, credit risk, and lending solutions for financial institutions, today announced the purchase of DiCOM Software, LLC, a leading provider of automated credit risk management software. 

The deal marks Abrigo’s third acquisition in five months and second in a month, continuing the execution of the company’s strategy to provide superior software and services to a growing customer base of 2,400 financial institutions. 

The combination of Orlando, Fla.-based DiCOM Software and Abrigo will provide financial institutions with access to best-in-class loan review and portfolio analysis solutions that are vital for protecting asset quality in the face of increasing pressure on borrowers. 

DiCOM Software’s solutions provide financial institutions unprecedented control over the entire credit risk management function with increased efficiency. Purpose-built to identify quickly the emerging risks in the portfolio, they give financial institutions the ability to adjust risk management actions as market and business needs evolve. Its solutions add significant capabilities and efficiencies throughout a financial institution’s credit risk management processes, including risk assessments, 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 a key part of our strategy as we grow is to make sure we are responding to the market pressures our customers 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 help our customers prepare for any type of credit risk that might evolve.” 

DiCOM Software’s solutions, built by and for credit risk professionals, replace inefficient, time-consuming methods and deliver measurable results to banks, agriculture lenders, credit unions, and third-party service providers.  

Steve Wert, DiCOM Software’s President & CEO noted, “Our customers will realize significant benefit from the increased depth and breadth of our integrated suite of market-leading credit risk management solutions. Additionally, the combined strength of Abrigo’s and DiCOM’s experienced, customer-focused credit risk professionals will provide unparalleled service within the market. This acquisition is a great fit and natural evolution for DiCOM.” 

Using Abrigo’s award-winning loan origination system and DiCOM Software’s web-based solutions, loan review staff can easily perform effective risk assessments, increase loan review productivity, and improve credit quality without having to rekey data stored in siloed databases. Customizable worksheets, workflows, and impactful reports for management help institutions achieve double-digit efficiency gains and allow more time for focusing on effective and consistent reviews. DiCOM clients will have additional resources to manage the full life of a loan while managing fewer vendors, all with Abrigo’s award-winning customer service and its top-notch cybersecurity and implementations. 

DiCOM Software joins a strong and growing portfolio that will continue to enhance the value Abrigo brings to both its customers and the industry. In December, Abrigo added scale to its CECL modeling, validation, and valuation offerings with the purchase of Valuant, an influential solution and service provider. In August, Abrigo purchased BankLabs’ Construct and +Pay construction loan administration and funding solutions, creating an end-to-end construction origination, management, and administration platform that drives additional interest income and manages risk.   

“In partnership with The Carlyle Group and Accel-KKR, Abrigo is accelerating our investments in our people, our products, and our service to customers. We’re thrilled to have the DiCOM Software team members join the Abrigo family, and we share their commitment to offering innovative and highly effective credit management solutions so financial institutions and the communities they serve can thrive,” Blandford said.  

 

About Abrigo
Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo’s platform centralizes the institution’s data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth. Visit abrigo.com to learn more. Follow Abrigo on social media using @WeAreAbrigo. 

About DiCOM Software 

Established in 1999, Florida-based DiCOM Software is a leading provider of automated credit risk management software. Dedicated to delivering credit risk management solutions that enable financial institutions to achieve dramatic benefits, the software is used to identify risk in an aggregated commercial loan portfolio of over $500 billion.

 

Media Contact
Media Relations / Email: [email protected] / Phone: 512.536.0929 / Twitter: @weareabrigo