BankSouth | Decentralization & Inconsistency
BankSouth in Greensboro, GA., had a decentralized process. The lenders used spreadsheets for their global cash flow calculations. This process worked; however, BankSouth wanted to have a more formalized system for credit analysis due to the bank’s growth and recent change in regulatory agency.
consistent and standardized.
BankSouth chose Abrigo for its credit analysis needs. Tracy Hayden, Chief Credit Officer at Bank South notes,” Abrigo has helped make the bank’s loan packages more consistent and standardized.” Additionally, Credit Analysis provides a narrative report on every credit that generates information about the business’s financial health industry benchmarks, and tips for improvement. Abrigo’s narrative report helps BankSouth in three important ways. First, it helps lenders better understand the credit. Second, the report provides talking points lenders can use with customers to help them improve their businesses, and third, it enables the bank’s loan committee meetings and approval process to run more smoothly with an easy-to-understand write-up of the business and industry.