Case Study: Millennium Bank achieves faster, more consistent credit analysis with Abrigo

Millennium Bank boosts loan production 25% with Abrigo

Millennium Bank, a community bank based in Ooltewah, Tennessee, faced challenges with an inconsistent and inefficient credit analysis process. This inconsistency led to varying lending decisions and a slow turnaround time, which was a critical disadvantage in their competitive market. To address this, they partnered with Abrigo to find a solution.

By implementing Abrigo's Credit Analysis, Risk Rating, and Loan Administration solutions, the bank standardized its credit process. Key features like the Credit Memo and Electronic Tax Return Reader automated data entry and streamlined analysis. The results were significant: the bank now produces stronger credit cases in half the time, increased loan production by 25%, and grew its loan portfolio from $81M to $125M in under two years without adding new staff.

Millennium Bank