AML/CFT Advisory Services AML Software

Southwest Heritage Bank optimizes compliance and merger process with Abrigo BAM+

Southwest Heritage Bank is a community-based financial institution headquartered in Scottsdale, Arizona, with less than 10 branches. The bank recently went through a merger, expanding its footprint to New Mexico and bringing its total assets to $1 billion. Both legacy institutions, Commerce Bank of Arizona and Bank 34, were already using Abrigo's BAM+ platform prior to the merger, which played a crucial role in helping the bank integrate its compliance and risk management functions during and after the merger.

The opportunity: Streamlining compliance during a complex merger

When Commerce Bank of Arizona merged with Bank 34 to form Southwest Heritage Bank, the bank identified several opportunities related to compliance integration. Ryan Nuffer, Vice President and BSA Officer at Southwest Heritage Bank, and his team recognized a need to manage a growing number of compliance alerts and the complexities of aligning the compliance programs of two institutions. While the bank had experienced success with BAM+ for day-to-day operations, the merger presented new complexities.

READ THE FULL CASE STUDY

The solution: BAM+ and Advisory Services for seamless integration

Working with Abrigo’s advisory team, Ryan and his team optimized their transaction monitoring system and streamlined compliance processes throughout the merger.

“The implementation team was super beneficial throughout the process. They worked with us for several months, ensuring that both legacy systems were aligned before the merger. We knew exactly what to expect and were able to navigate the blackout period without any major issues,” Ryan said.

During the merger, Nuffer’s team centralized and streamlined all compliance monitoring into BAM+, which was crucial for ensuring consistent regulatory reporting. The Abrigo Advisory team also helped fine-tune transaction monitoring scenarios, allowing Southwest Heritage Bank to manage the influx of alerts that occurred post-merger as a result of combining the financial institutions.

"Before the merger, I relied heavily on Abrigo Advisory Services to prepare for regulatory exams and optimize our system. The process of integrating two institutions was much more complicated, but Abrigo’s support was indispensable."

Ryan Nuffer, Vice President and BSA Officer at Southwest Heritage Bank