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How Abrigo’s BAM+ software configures with new core systems

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If your credit union is considering leaving the Fiserv platform and adopting a newer core processing platform designed specifically for your scope, you are not alone. In recent years, other core systems, including Corelation KeyStone, have emerged as preferred processors for credit unions in the $500 million to $1 billion asset range, surpassing Fiserv in popularity.

Abrigo has partnered with several credit unions that made the switch to a new core system. Not all BSA/AML software is designed to work with platforms like Corelation, but as a committed partner to small and mid-sized financial institutions, Abrigo works with BSA departments to collect all the data necessary to implement the BAM+ program and help credit unions streamline their AML/CFT processes, no matter what core system they use.

Creating consistency

Partnering to fully utilize Abrigo with a new core

Leominster Credit Union had been a BAM+ customer for seven years before converting from Fiserv to Corelation. Like many other credit unions, the decision was driven by frustration with the cooperation between various products and the core.

“Despite all being from the same company, our tools seemed like disparate systems. It was hard to get what we wanted from them, and the major pain point was that the products didn’t “talk” to the core,” said Meg McClain, Assistant BSA Officer at Leominster. 

Leominster engaged a third-party project planner to help them transition in two years. Once the core system was in place, transferring their data to Abrigo to get BAM+ functioning properly was a learning experience. For McClain, Abrigo’s ticket system and communication have made the process worth the long haul. Leominster and Abrigo have partnered throughout the ongoing process to get the best AML/CFT system possible.

“It’s the ease of use that we value the most. Some other systems out there that work with Corelation are like a Ferrari. We just wanted a basic program that is simple, comfortable, and easy to teach to a brand-new employee.
Meg McClain, Assistant BSA Officer, Leominster Credit Union

Simple configuration

An individualized approach to alerts

In 2022, AllTrust Credit Union converted core systems to get a more customized experience across its three branches. AllTrust made the switch to Corelation from Fiserv XP-2 and began using Abrigo’s BAM+ program just before Heather Estrela took on the role of BSA coordinator.

When Estrela first took on her BSA role, she had never used BAM+ for transaction validation and was worried she was putting in more manual labor than necessary. She reached out to Abrigo for answers and ended up cutting her manual validations to a quarter of what they were when she first began experimenting with the software.

Since taking over BAM+ operation, Estrela has utilized reports to determine thresholds for alerts that make sense for her institution’s unique risk profile and catch the types of transactions she is looking for. Estrela says that Abrigo’s individualized approach to setting parameters is its greatest strength. Rather than basing her parameters on a one-size-fits-all template based on other institutions, Estrela has customized them over time to meet the profile of AllTrust’s membership.

Like Leominster Credit Union, AllTrust said that the support has been a highlight of their experience partnering with Abrigo during a difficult transition. “The most valuable thing about Abrigo for me is that when I open up a support ticket, I get responses immediately,” Estrela said. “The representative I worked with truly helped me transition into a new role.”

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