AI TOOL PROFILE
Abrigo: Banking Risk Management and Compliance Software
- Finance and Accounting
- Compliance Management
- U.S. Banks
- Credit Unions
- Financial Institutions
Pricing
Pricing was not clearly available from the provided evidence. Buyers should confirm current pricing on the vendor website.
At a glance
- Best for
- U.S. Banks, Credit Unions, Financial Institutions
- Key use cases
- Financial Crime Monitoring, Credit Narrative Support, Loan Review Support, Regulatory Reporting
- Official website
- Visit abrigo bam official website
How AI is used
Abrigo is a software platform for U.S. banks and credit unions. It combines functions into one ecosystem, covering loan origination, credit risk, anti-money laundering (AML), and fraud detection. The platform is designed to help institutions meet regulatory standards while managing their portfolios.
The software is built for various banking teams, including lending officers, BSA/AML investigators, and finance departments. It supports digital workflows for account opening and provides tools for CECL calculations and asset/liability management to support financial performance tracking.
Modular AI-powered assistants are available to help with the creation of credit narratives and the triage of AML alerts. Buyers should confirm which modular components fit their specific operational needs, as the platform covers a wide range of specialized banking functions.
Security is a focus for the platform, which maintains SOC 1 Type 2 and SOC 2 Type 2 certifications to meet the data standards required by financial regulators.
Key Features
Financial Crime Solutions
Tools for AML/CFT, sanction screening, and fraud detection to help protect institutions from financial crime.
Lending and Credit Risk
Software for commercial, consumer, small business, and construction lending to support the loan origination process.
Portfolio Risk and CECL
Tools for CECL calculations, stress testing, and asset/liability management to help track financial performance.
AI-Powered Assistants
Embedded AI tools including AskAbrigo and AML Assistant that help with data retrieval, alert prioritization, and narrative generation.
Account Opening
A digital process for account origination designed to help grow deposits.
Banking Intelligence
Data and analytics tools intended to provide insights from institutional data.
Use Cases
Financial Crime Monitoring
Using AML and fraud detection tools to identify and investigate potential financial crimes.
Credit Narrative Support
Using the Lending Assistant to help generate editable credit narratives and extract data from unstructured files.
Loan Review Support
Utilizing the Loan Review Assistant to support regulatory compliance and review cycles.
Regulatory Reporting
Generating allowance narratives and CECL reports for examiner communications.
FAQ
Who is Abrigo software designed for?
- Abrigo is specifically built for U.S. banks and credit unions that need to manage risk, compliance, and lending processes.
What AI features does Abrigo offer?
- The platform includes AI-powered tools such as AskAbrigo for data insights, as well as assistants for AML triage, loan reviews, and credit narrative generation.
Is Abrigo compliant with financial security standards?
- Yes, Abrigo's products are certified under SOC 1 Type 2 and SOC 2 Type 2, and the program is aligned with FFIEC guidelines.
Source category: Finance & Accounting
Source subcategory: Compliance Management
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