Abrigo, a leading technology provider of compliance, credit risk, lending, and asset/liability management solutions, earned top scores in Aite Group’s recently released report on client satisfaction. The report, “Lenders’ Perspectives: Commercial Loan Origination Automation,” compiled vendor ratings based on client interviews regarding lender satisfaction with their commercial loan origination software provider.
Financial institution leaders were interviewed and asked questions about 12 aspects of their commercial loan origination software vendor, and the results were compiled to compare vendor performance. The report from Aite Group evaluates cost and value, service and support, implementation, ease of upgrades, product features, and more.
Abrigo earned top scores overall, with a 4.7 out of 5 rating, and it outranked all other vendors or tied for first place in 8 of the 12 categories that generate the overall rating for commercial loan origination solution vendors. Abrigo ranked above all other loan origination automation vendors in the categories of client service, product features, ease of implementation/integration, and ability to help digitize the borrower experience. Abrigo tied for first place for the overall score, service, and support, ability to deliver in promises, cost and value, and ease of upgrades.
“‘Love for customers’ is a core value at Abrigo,” explained Abrigo President Jay Blandford. “Since this report is based on customer feedback, we are very proud to have earned the high marks we did. Our financial institution clients are key stakeholders in our success, and we will continue working with them to make sure we exceed expectations with onboarding, product capabilities, and support.”
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Digitizing the borrower experience has proven to be even more valuable in meeting the needs of borrowers and members since the start of the COVID-19 pandemic, with the Paycheck Protection Program (PPP) and its pervasive need for digital applications a prime example. That experience and other trends are now motivating financial institutions to accelerate digitizing their other products as well as front- and back-office functions. Knowing which vendors are considered superior in important areas such as client service and ease of implementation will help financial institutions as they evaluate their choices for loan origination solutions.
David O’Connell, Senior Analyst at Aite Group, said, “I continue to see increasing demand for automation in commercial lending despite the pandemic, which has required lenders to better digitize virtually all aspects of commercial loan origination. Seen in this report is Abrigo clients giving this vendor positive scores compared to other vendors in areas that included service, ability to deliver on promises, and breadth of functionality in the loan origination experience.”
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