Improving efficiency, reporting, and analytics
While each financial institution is unique, there are a number of common motivating factors that inspire clients to consider and ultimately implement an automated credit risk management solution. Some common motivators are:
- Process improvements and standardization
- Ability to facilitate regulatory compliance
- Improved efficiency and error reduction
- Increased scalability to accommodate portfolio growth
- Improved reporting and analytics
With the above in mind, it’s often easy to overlook other perhaps more fundamental benefits of automation software like the Credit Quality Solution (CQS) from Abrigo (formerly DiCOM). The perspective of a Management Information Systems professional (MIS) helps us view the question through a different lens and brings other benefits into focus such as system stability and data accessibility and integrity.