As a result of new CECL regulations, Community Banks and Credit Unions are or will be spending a great deal of money on underpowered, check-the-boxes, bare minimum technology to pass a review. These basic solutions offered by CECL providers do not capture the true dynamics of the portfolios, and therefore won't provide any real business value. You shouldn't have pay for regulatory compliance but rather your investment should go towards improving your business.
At DFA, our best-in-class solution provides the necessary lifetime loss forecasts for CECL, but also gives you accurate and actionable information for portfolio management, account management, and loan pricing. All of this is wrapped up in an easy-to-use browser-based tool that lets you update your forecasts at will.
We understand you want to get accurate and actionable allowances so we start by doing loss forecasting right. Monthly account-level estimates of balances, attrition / pay-down, and charge-offs that incorporate underwriting criteria, loss timing, mean-reverting scenarios for the environment, and adjustments for adverse selection.
Consider Our Core Capabilities and how we stack up against other providers.
Our focus has always been on Accuracy and Application of results. Therefore, while your software training may take a little longer, the great amount of flexibility you gain will far outweigh the longer learning curve.