Immediate and visual answers to regulator’s questions

The Challenge

Legacy Bank and Trust, a financial leader in economic and community development by providing financial products and services, 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. Their criteria for a system included something that was secure, scalable, intuitive, and could generate professional looking reports that could be used for multiple different purposes such as board packets, management reports, and reports for regulators.

Spreadsheets and Pivot Tables

For Legacy Bank and Trust, 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.

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