Publicly Traded Regional Bank Gains Robust Efficiencies with CECL Data Support
A publicly traded regional bank transitioned to the Current Expected Credit Losses (CECL) methodology as mandated by the Financial Accounting Standards Board (FASB) in 2020. The new accounting standard required robust supporting processes to transport, transform, and store data, so the bank called on Resultant to help build solutions to meet the new regulations.
A collaborative approach with the right tool for the job
Our team collaborated with the bank to support the buildout of robust data workflows and transformations to support model operations.
Using Alteryx Designer, we developed dynamic, complex workflows to standardize data processes, then leveraged Alteryx Server to enhance scale and controls within the environment, incorporating the approved data management procedures within the lending processes.
The Resultant team provided knowledgeable, high-caliber resources to accelerate the conceptualization and implementation of the data workflows within tight timelines, delivering enhanced loan portfolio analytics solutions that facilitate robust, real-time portfolio reporting at all stages in the lifecycle of a loan.
About the Client
A regional bank operating more than 200 offices in ten states from coast to coast, the client holds more than $25 billion in assets.
Implementing these solutions helped the bank to
Peace of mind plus accelerated outcomes
When financial services teams automate the right portions of slow, painful, error-prone reporting processes, not only are their CECL compliance needs met but their resources are freed up to direct them where they can make the most difference.