PCBB
Industry
Finance
Developing a customized CECL application for a Bankers’ Bank
New SaaS application positions PCBB as a FinTech leader and creates a new revenue stream
As PCBB’s product offerings grew, the capability to process and analyze the large volume of data became laborious for the bankers’ bank. PCBB executives recognized the challenges in offering CECL/ALLL using their static platform to calculate allowance; and wanted to improve their antiquated spreadsheet-based system to manage data.
PCBB sought to replace their spreadsheet-based reporting system with an automated workflow business intelligence solution.
They needed a flexible and easily extendable design, with a centralized data warehouse to house everything needed for their financial reporting. Considering the pending CECL accounting regulation standards around loan processing, it was an opportune time for PCBB to build a business intelligence platform to house their CECL SaaS application.
Analytics Intell helped PCBB build and deploy a scalable, secure and reliable CECL software as a service (SaaS).
The custom solution deployed by Analytics Intell provided a reliable way to ingest data from multiple source systems, with a user-friendly interface that adhered to best practices for CECL workflow. This solution resolved many of their data challenges and pain points, with benefits such as:
- Streamline processes and save employee time to generate quarterly financial reports
- Reduce customers’ risk exposure to auditors with a verifiable audit trail
- Unify siloes of data to a centralized data hub for all financial reporting
- Improve financial management reporting and portfolio insights
- Improve competitive differentiation and expand market share
- Provide their clients with a more reliable, secure, and intuitive solution to calculate allowances for loan and lease losses (ALLL)
- Facilitate a verifiable audit trail, providing capability to review users, calculations, and adjustments at every step of the CECL process
- Offer multi-dimensional security: ensuring permissions for selected users and access to only approved content
In financial terms, we needed to process large amounts of data quickly, reliably and securely… We were looking for a solution that is fast but visually appealing. We chose Analytics Intell because of their experience in UI and delivering analytics securely, quickly and [with scale].
Shiva Sandy, Chief Technology Information Officer, PCBB
The robust and intuitive CECL application will also expand revenue streams.
PCBB will be able to license their CECL software to their customers. This sophisticated and easy-to-use application is valuable for customers and increases the customer acquisition and retention rate. With this type of digital innovation, PCBB is increasing their market influence and moving up the industry ranks.
