The challenge: Seeking a web-based ALM model they could run independently
Wisconsin-based IncredibleBank is an innovative community bank that provides online banking to customers in all 50 states. What began as a single bank has expanded to 15 locations in Wisconsin, Michigan, and Florida. Like many growing banks, IncredibleBank needs a comprehensive asset/liability management (ALM) model that can keep up with its new opportunities, satisfy its regulatory requirements, and provide a 360° view of potential risks.
Vice President of Finance and Investment Officer Tim Parks began looking for an ALM provider that was as dynamic as IncredibleBank. His existing vendor's model hadn't been updated since 2011 and simply wasn't evolving or improving. Parks was also looking for an online server-based model so he didn't need to worry about hosting data himself. He had heard of FARIN, Abrigo's legacy ALM business, and decided to explore Abrigo's ALM model when he discovered that it was web-based.