Sageworks Surety incorporates industry database to bolster qualitative factors

RALEIGH, NC (January 27, 2014) — A common area of examiner criticism with the allowance of loan and lease losses (ALLL) is the appropriate determination, support and documentation qualitative and environmental factors adjustments.

To make this process easier for bankers, Sageworks recently enhanced Sageworks Surety, the industry leading ALLL solution, to incorporate proprietary and real-time industry data for justifying loss rate adjustments pertaining to external factors.

Sageworks’ proprietary financial data, which include more than 1 million private-company financial statements across 1,400 industries, provide an objective industry analysis weighted by NAICS code. This allows for more granular analysis to reflect the unique industry composition of each pool at the bank or credit union.

This data is provided in addition to Federal Reserve Economic Data (FRED), FDIC peer-group data and qualitative matrices to help bankers appropriately document and justify qualitative adjustments.

Banks and credit unions rely on Sageworks Surety to reduce time spent on the ALLL by up to 80 percent, impress examiners through a well-documented methodology and reduce regulatory and accounting risk.

In a recent poll, 100% of Sageworks Surety users said they have reduced the amount of criticism during exams after implementing Surety. Learn more about Sageworks Surety and how it is helping banks and credit unions prepare for forthcoming ALLL changes at

About Sageworks
Raleigh, N.C.-based Sageworks is a financial information company. Sageworks’ data and applications are used by thousands of financial professionals across North America to analyze privately held companies and to manage and calculate risk in their loan portfolios. The company has been named to the Inc. 500 list of the fastest growing, privately held companies in the U.S. and to the Deloitte Technology Fast 500. 


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