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More clients use Sageworks ALLL for reserve estimation than any other automated software solution. In August 2016, we launched expected loss functionality, free to clients, which includes access to the methodologies outlined in ASU 2016-13. As the first vendor to offer this experience, we equipped banks to start assessing their data gaps and model selection early, giving banks ample time to plan and optimize their calculation. Institutions will need flexibility in choosing different methodologies for different loan pools before finalizing their expected loss model, and Sageworks offers US banks and credit unions an Allowance for Loan and Lease Losses solution, Sageworks ALLL. Through this flexible software solution and Advisory Services, Sageworks is helpging institutions comply with incurred loss accounting standards as well as expected loss standards under CECL.
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