Summary
This case study details the experience of Cooperative Business Services (CBS) in implementing Abrigo's lending and credit software to enhance its commercial lending operations. Founded over 20 years ago, CBS serves nearly 150 credit unions across 16 states, managing over $2.5 billion in commercial loans. The primary objective for CBS was to find adaptable software that could streamline loan processes and integrate with their existing systems. The case study outlines how Abrigo's software met CBS's unique needs, providing flexibility and integration capabilities that were crucial for their reporting requirements. CBS's Chief Risk Officer, Lorain Cooper, emphasizes the importance of the software's ability to report at both the lead and participant levels, which was not offered by other vendors. The implementation of Abrigo's software has led to significant improvements in workflow efficiency, reducing average completion time from over 100 days to just 25 days, while also minimizing human error and enhancing data control.
