Abrigo, a leading provider of growth and risk management software for U.S. banks and credit unions, recently announced significant improvements to Abrigo Connect, the company’s banking intelligence solution. Abrigo Connect now includes new artificial intelligence (AI) capabilities for ease of use and new role-based products to help leaders make strategic and operational decisions.
The functionality was revealed at Abrigo’s ThinkBIG conference in Miami last week, where 600 attendees convened for thought leadership and Abrigo product innovation.
Introduced in 2020, the Abrigo Connect platform curates relevant information to quickly deliver intuitive and actionable dashboards across lending, credit risk, financial crime management, enterprise risk, and banking operations. These dashboards give financial leaders insights into institutional performance, opportunities for growth, and employee efficiency.
“Banking leaders have to do more with less given the economy, and they need real-time information to optimize decisions around resources, loan growth, and risks. Abrigo Connect can close that information gap quickly, without months’ long implementations or complex data stacks,” explained Ravi Nemalikanti, Abrigo Chief Technology Officer.
Abrigo Connect features a new user interface powered by ThoughtSpot Everywhere. It uses AI, GPT-3.5, and natural language search capabilities so bankers can find their data using the words they speak everyday – improving the speed and quality of results.
“Companies that are building their businesses on data, both internally and in their offerings for customers, will realize unprecedented competitive advantages. It makes us immensely proud to be empowering a global community of data-driven companies, like Abrigo, that are using ThoughtSpot to build sticky products that deliver business impact and extend analytics to their customers that deliver a modern data experience,” said Sumeet Arora, Chief Development Officer at ThoughtSpot. “Abrigo is driving innovation in the banking sector with AI-Powered analytics, and we’re thrilled to be an innovation partner in differentiating their platform with a bespoke analytics experience and in delighting their end users.”
Abrigo supports 2,400 financial institutions through lending, portfolio risk, and financial crime management automation. Leveraging its customer network, the company has built a proprietary database of banking data for exclusive benchmarking within Abrigo Connect.
While many financial institutions grapple with a talent shortage, they may also struggle to source or fund an in-house data science team. Similarly, many community institutions lack resources dedicated to data warehousing to power general business intelligence systems. Abrigo Connect uses information already flowing through the Abrigo Platform to sidestep lengthy, expensive data integration projects and yield immediate access to curated data. Later this year, Abrigo will also integrate additional data sources for richer analysis.
The Abrigo Platform, including Connect, provides unlimited user access, allowing financial institutions to add users as their usage of data analytics expands. Bankers can have confidence in the security and expediency of data flows through Abrigo, knowing the company has integrated to more than 50 unique core systems across thousands of successful technology implementations.