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Asset/Liability

IncredibleBank manages ALM effectively and independently with Abrigo

The challenge: Seeking a web-based ALM model they could run independently

Wisconsin-based IncredibleBank is an innovative community bank that provides online banking to customers in all 50 states. What began as a single bank has expanded to 15 locations in Wisconsin, Michigan, and Florida. Like many growing banks, IncredibleBank needs a comprehensive asset/liability management (ALM) model that can keep up with its new opportunities, satisfy its regulatory requirements, and provide a 360° view of potential risks.

Vice President of Finance and Investment Officer Tim Parks began looking for an ALM provider that was as dynamic as IncredibleBank. His existing vendor's model hadn't been updated since 2011 and simply wasn't evolving or improving. Parks was also looking for an online server-based model so he didn't need to worry about hosting data himself. He had heard of FARIN, Abrigo's legacy ALM business, and decided to explore Abrigo's ALM model when he discovered that it was web-based.

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“"Its customizable, so you can really model whatever you want. You aren't stuck doing the same buckets—there is more freedom.".”

Tim Parks, VP of Finance & Investment Officer, IncredibleBank

The solution: Abrigo’s Asset/Liability Management tools

IncredibleBank chose Abrigo for its online data hosting and flexibility. Abrigo offers multiple model-access options, including institution-managed, Abrigo-managed (outsourced), or any combination of the two. Parks knew he wanted to continue running IncredibleBank's ALM model completely independently at his institution.

"We know our assumptions better than anyone, so I like to run our model internally instead of having a third-party do it," Parks said. He implemented the model singlehandedly, controlling every aspect and checking in with Abrigo's advisory team on an as-needed basis.

Changing the game

The most significant change IncredibleBank saw after switching to Abrigo was an improved process for running interest rate scenarios. Their previous model required Parks to run individual scenarios separately and compile them together to create a report. It was time-consuming to run different interest rate shocks, switching parameters each time. Now, he can run a single report and get an output of multiple scenarios.

“I like being able to run a wider variety of reports for whatever audience needs them, whether that's examiners, external auditors, the FDIC, or any other stakeholder."
Tim Parks, VP of Finance & Investment Officer, IncredibleBank

Optimize the ALM operations at your financial institution.

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