First Guaranty Bank: Fighting FinCrime and Saving Time with Abrigo Partnership

Financial Crime-Fighting Partners

Working Together For More Than A Decade

At Abrigo, we understand making an investment in BSA/AML software is a serious decision that can take ample
resources. That’s why – even after the sale – Abrigo continues to work with the financial institution to support its BSA program’s success. First Guaranty Bank, an Abrigo client that has served the people of Texas and Louisiana for more than 87 years, is a good example of the benefits of such a relationship.

“First Guaranty Bank has been part of the Abrigo family for over 12 years, and through this partnership, we are able to ‘fight financial crime’ together!” said JoEllen Juhasz, Vice President and BSA Officer at First Guaranty Bank.

Abrigo has not only helped the bank fight financial crime, it also helps First Guaranty’s BSA staff automate procedures and become more efficient in BSA compliance, according to Juhasz, who was named to Independent Banker’s “40 under 40: Emerging Community Bank Leaders” in 2019.

“First Guaranty Bank has been part of the Abrigo family over 12 years, and through this partnership, we are able to ‘fight financial crime’ together!”
JoEllen Juhasz, VP, BSA Officer | First Guaranty Bank
Time Saving

Reducing Reporting From 8 Hours to 3 Hours

“Using multiple reports offered through BAM+ has saved a tremendous amount of time for me personally,” she said. “From [quality control] to management reporting, this task was over 8+ hours. It has been reduced to 3 hours.”

Communication has been critical to the First Guaranty Bank /Abrigo partnership. The account executive and client success managers at Abrigo who are dedicated to First Guaranty Bank “recently assisted me in developing a road map of my DREAMS for our BSA program,” Juhasz said. “With their assistance, I was successful in outlining to our board members the importance of an automated system (BAM+) and maintaining accurate data to ensure compliance for our BSA program.”

Abrigo provided First Guaranty with a recent data integrity review. The goal of a data integrity review is to analyze the accuracy of data flowing into the BSA/AML solution from various departments, systems, and sources. To complete the data integrity review, the risk management consultants from Abrigo looked at samples of different transactions and data sets from all areas of the bank. They made sure the data was moving into BAM+ correctly and efficiently. This helps ensure that the bank is accurately identifying potentially suspicious activity.

As a result of the review, Juhasz said, “I don’t have to ‘dumpster dive’ into the data from our core to ensure BAM+
is capturing correct information and data for suspicious activity monitoring.”

“Abrigo stands by their products / solutions and is always willing to lend a helping hand.”
JoEllen Juhasz, VP, BSA Officer | First Guaranty Bank

Optimizing the Software Investment

First Guaranty also recently received a Suspicious Activity Program Optimization from Abrigo Advisory Services. The optimization ensures the financial institution is making the most of the software and has risk parameters tuned and tweaked to its specific risk, without tying up the time of institution staff.

“It’s important for everyone to know that Abrigo stands by their products/solutions and is always willing to lend a helping hand through their advisory services and offer solutions to ensure compliance within your BSA program,” Juhasz said. “You just have to ask for help!”

First Guaranty epitomizes the value of collaboration between a client providing insight and a software and services provider continuously seeking client success.

Software to streamline, automate, and report on everything in your BSA/AML program with transparency.
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