Abrigo, an Austin, TX-based leader in compliance, credit risk, and lending solutions for financial institutions, acquired DiCOM Software, LLC, a Orlando, Fla.-based provider of automated credit risk management software.
The amount of the deal was not disclosed.
The combination of DiCOM Software and Abrigo will provide financial institutions with access to loan review and portfolio analysis solutions that are vital for protecting asset quality in the face of increasing pressure on borrowers.
Led by Steve Wert, President & CEO, DiCOM Software provides solutions which give financial institutions control over the entire credit risk management function with increased efficiency. Purpose-built to identify quickly the emerging risks in the portfolio, they give financial institutions the ability to adjust risk management actions as market and business needs evolve. Its solutions add significant capabilities and efficiencies throughout a financial institution’s credit risk management processes, including risk assessments, scoping, workflow management, borrower review, and reporting. DiCOM Software’s solutions are used by banks, agriculture lenders, credit unions, and third-party service providers.
Led by Jay Blandford, CEO, Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Its platform centralizes the institution’s data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth.
DiCOM Software joins a portfolio that will continue to enhance the value Abrigo brings to both its customers and the industry. In December, Abrigo added scale to its CECL, modeling, validation, and valuation offerings with the purchase of Valuant, an influential solution and service provider. In August, the company purchased BankLabs’ Construct and +Pay construction loan administration and funding solutions, creating an end-to-end construction origination, management, and administration platform that drives additional interest income and manages risk.
FinSMEs
27/01/2023