The Challenge

Legacy Bank is growing fast, both organically and through acquisition. They were spending too much time wrangling data from multiple systems and trying to keep up with new questions arising in the midst of a rapidly changing economic landscape. A better solution for efficiently managing and analyzing their commercial loan portfolio was needed.

Reporting process hindered by spreadsheet usage and complex requirements

Formatting and organizing data had become a lengthy process each month. Legacy was managing analysis and reports in multiple spreadsheets, leaving room for errors. A complex and varied set of requirements led to more time in the report generation process. Managing their suite of reports in a consistent manner, from one month to the next, was challenging due to the amount of data manipulation that was required each month. As the economic landscape shifted, the leadership team and examiners wanted to view concentrations in new ways.

Not Enough Time to Focus on Long Term Strategy

Legacy Bank wanted the work they were doing each day to count for more in the long term. Too much time was spent perfecting reports that would need to be redone the following month. They preferred to spend time improving data quality at the source and exploring operational changes that would lead to greater analysis capabilities.

The Solution

The Legacy team knew their data wasn’t pristine but loaded what they had into Qualtik. Immediately, they were able to identify inaccuracies and gaps in the data. They used Qualtik dashboards to filter and drill into the most scrutinized portions of their portfolio and started the process of improving data and operational processes.

Effective Reporting with Dynamic Dashboards

The Legacy team was able to drill down into their data by filtering by zip code, industry, and risk grade. This provided clear insight into the management of their loan portfolios.

Immediate and Comprehensive Answers to Regulator Questions

When the examiners visited for a safety and soundness exam, the Legacy team put the Qualtik dashboard on the screen in the boardroom. They explained their concentrations in a concise and visual manner and then zeroed in on details using filters to answer detailed questions from the examiners in real time. The examiners began checking things off of their list without asking questions because they could see the answers on the screen. “Having dashboards where we could quickly answer questions sped up our exam and helped us demonstrate our strategy and current risk profile in a visual and accessible manner,” said Jessica O’Sullivan, VP of Risk Management. “We’re just getting started, but managing our portfolio in Qualtik is already paying off in a meaningful way for us.”

The Results

After setting up on the Qualtik platform, Legacy Bank was able to:

• Provide detailed concentrations to regulators
• Unlock specific data profiles to improve analysis
• Generate customized reports in minutes
• Interact with data in real-time
• Hone in on risk grade for specific industries
• Expedite conversations with examiners

Today, Legacy Bank’s ability to interact with data in real time allows them to proactively fill in data gaps where they arise. This leads to more meaningful insights and overall improved analysis during key conversations with regulators.