Sheshunoff partners with Ardmore Banking to market CRE reporting solution
CREInsight™ gives SCS customers ability to meet, exceed new guidelines
AUSTIN, Texas, July 21, 2008 – Sheshunoff Consulting+Solutions [SCS], a leader in consulting services and proprietary technology solutions for the banking industry, today announced that it has partnered with Ardmore Banking Advisors, Inc. to market CREInsight™.
Ardmore – a strategic advisor to financial institutions since 1991 – developed CREInsight, an affordable, easy-to-implement solution, to help community banks address the December 2006 Interagency Guidance on Commercial Real Estate Concentrations. With the solution, customers are able to demonstrate awareness and control of CRE risk. CREInsight is a stand-alone CRE reporting and tracking module that banks can use to import data directly from their core system. Banks can easily maintain, track, report and stress test detailed CRE loan concentrations and borrower information from their portfolios.
“CREInsight is a cutting-edge solution that enables financial institutions to meet and exceed the CRE guidelines that were addressed in December 2006. With it, banks have a comprehensive method to track and manage a bank’s commercial real estate portfolio,” said Lyn Farrell, SCS National Director of Risk Management. “We are pleased to be able to offer our clients across the country a solution that makes it easier to comply with the CRE guidelines.”
Initially, the CRE guidelines were loosely followed, and adoption of Ardmore’s prototype solution was slow when it was first introduced in early 2007. The mortgage crisis has now put a new focus on the guidelines, and many banks are seeking an automated solution for their CRE reporting needs. Ardmore, with customer feedback, has already upgraded CREInsight to include and enhance the capabilities that customers and regulators requested.
“Monitoring CRE loans can be a challenge for any bank, and particularly for smaller banks with limited resources,” said Ardmore Vice President and Director Peter L. Cherpack. “By partnering with Sheshunoff, we are reaching new customers and offering an affordable, easy-to-maintain solution based on standard Microsoft programs that gives them the ability to update CRE data, provide an audit trail, and produce required reports. CREInsight also offers banks of all sizes the first portfolio stress testing solution.”
Cherpack added that CREInsight is an off-the-shelf software solution equipped with built-in security, 25 ready-to-go standard reports, and customizable lists and drag-and-drop data entry to speed data updates and eliminate manual errors.
For more information about CREInsight, or if you would like to talk to a representative about how CREInsight can help your bank, please call SCS at 1-800-477-1772.
About Sheshunoff Consulting+Solutions
For more than 30 years, Sheshunoff Consulting+Solutions has been a leading bank industry consulting firm. SCS enhances its consulting services with proprietary technology solutions, and also offers its financial industry customers executive development programs and investment banking services. Sheshunoff is a trusted advisor to the banking industry, providing institutions with the tools they need to improve profitability, optimize business processes, manage risk, maximize technology and meet regulatory requirements. Ultimately SCS positions banks for long-term growth. For more information, visit www.smslp.com.
About Ardmore Banking Advisors, Inc.
Ardmore Banking Advisors, Inc. has provided consulting services to hundreds of financial institutions since 1991. Run by seasoned industry professionals, Ardmore provides its services to community and regional banks located primarily in the Mid-Atlantic region of the United States. Ardmore also provides counsel to large multinational banks and other large regional financial institutions. Ardmore Banking Advisors is a part of the Ardmore Alliance, which also includes Ardmore Capital Advisors. For more information, visit www.ardmoreadvisors.com.