September 27 — Sageworks, a financial information company that offers lending, credit risk and portfolio risk solutions to banks and credit unions, announced the rollout of Sageworks Insights. This tool will enable institutions to make informed decisions by organizing and presenting more data for analysis and modeling. Sageworks Insights is the newest addition to the Portfolio Analytics suite, joining the company’s Stress Testing and Allowance for Loan and Lease Losses (ALLL) solutions.
Sageworks Insights seeks to help financial institutions project their income statement and balance sheet data under a number of scenarios for purposes of budgeting, financial planning, stress testing, and fair value estimation. Sageworks Insights also offers an acquisition component that allows users to run “what-if” simulations leveraging a Discounted Cash Flow, or DCF-based valuation tool, combining their own portfolio with that of another institution. By using publicly available FFIEC data along with Sageworks proprietary loan database, the solution will provide full income statement and balance sheet projections for the proposed combined institution. Larger financial institutions that must comply with the Dodd-Frank Act Stress Test requirements can also easily apply DFAST scenarios and estimate the impact on capital ratios and financial statements. Institutions that are not subject to DFAST requirements can implement stress testing best-practices for liquidity and credit risk management.
With further access to data and meaningful analysis, institutions can make better decisions to support the growth they expect to see in the coming years, helping them plan and make timely changes related to staff, technology, branches, etc. Leadership will benefit from informed insight into the institution’s growth track for decision making as well as for strategic discussions with the board.
Jay Blandford, president of Sageworks, said, “We know that institutions pursuing cutting-edge solutions like those in our portfolio are already poised for future growth. We’re excited to be offering Sageworks Insights to help leaders at these institutions better predict and amplify that growth as they’re armed with increased understanding and analysis.”
Users of Sageworks Insights will also be granted access to Peer Analysis (formerly Bank Information) in their subscription. The data from Peer Analysis adds to the value of the simulator by bringing in more data points for further accuracy and reliability.