FARIN and Legosys Solutions Announces Strategic Partnership
Fitchburg, WI – Farin & Associates, Inc., a leading consulting firm providing asset/liability management services, retail product-pricing solutions, education, consulting and core deposit studies to community financial institutions, announced a strategic partnership with Legosys Solutions. The new strategic relationship offers FARIN clients the ability to run loan level, “bottom-up”, credit risk stress tests. Users of the Legosys FastGrade Stress Testing module will be able to integrate these results into their FARIN FORESIGHT™ ALM model in an upcoming release.
Legosys Solutions offers a wide range of business disciplines and products to the Financial Services industry. Some of Legosys areas of expertise include: Mergers and Acquisitions, Commercial/Agricultural Lending and Compliance, Information Technology & Project Management, and Bank Turnaround Services.
Dave Koch, Chief Operating Officer of Farin & Associates, said “In an ever-changing ALCO process, the ability to plan and stress test credit risk in the ALCO modeling process is critical. We saw how the credit losses hampered financial performance in this past cycle and now regulators are expecting more integration of credit loss testing in the overall ALCO forecasting process. We are excited to bring this type of detailed analysis to our clients to better understand the impact of credit losses on the overall capital planning and risk management functions.”
Rob Newberry, President /COO of Legosys Solutions, added “I am excited to start collaborating with Farin & Associates to offer clients enhanced capabilities and services. We share a common perspective and interest in helping community banks and credit unions remain viable and profitable through sound enterprise risk management techniques and solutions.”
Dave continued, “The experience Rob and Legosys bring to the table for community financial institutions provides our clients with an excellent value for powerful credit stress testing, underwriting and grading processes. We are excited to be working closely with them to assist our clients to meet changing regulatory expectations while ensuring profitable results.”
Based in Des Moines, Iowa, Legosys is a Financial services software company that provides financial institutions a single application to manage underwriting, administration, and regulatory compliance activities across their entire loan portfolios through its FastGrade™. For more information visit http://www.fastgrade.net or call 877.933.5172
About Farin & Associates, Inc.
Since 1985, FARIN has been providing asset/liability management services, retail product-pricing solutions, education, consulting, and core deposit analysis to banks, thrifts, and credit unions nationwide. With a reputation for thinking ahead of the curve, the FARIN staff continues to take the podium to challenge institutions to learn, think, and grow in their financial management responsibilities. Our expertise and leadership has been welcomed as a participant, partner, presenter, and exhibitor in many industry conferences, workshops, educational forums, and various Graduate Schools of Banking. For more information about Farin & Associates, Inc. visit www.farin.com or call 800.236.3724.
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- Jackie Myers
- Marketing/Education Manager
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