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Abrigo Introduces Abrigo Assurance Plan to Help Customers Optimize Software Performance

Abrigo, a leading provider of compliance and risk management solutions, announced the launch of the Abrigo Assurance Plan, a service plan to help community financial institutions focus on optimizing their software application performance.

Abrigo Assurance takes a proactive approach to product maintenance to ensure its clients’ anti-money laundering (AML) and fraud monitoring applications, BAM+ and BAM+ Fraud, perform at optimal levels. This innovative plan was created to meet the growing need for better support of remote work and the adoption of digital channels in the financial industry as a result of the coronavirus pandemic. Abrigo Assurance includes:

• An annual efficiency review to ensure institutions are monitoring for the threats that most impact their institution

• An annual feed check-up and standard data purge to verify quality data is entering into their systems

• On-demand scenario reruns to increase data integrity

• A secure sandbox testing environment and annual sandbox refreshes that provide a secure place to test new product features and functionality before implementing them to limit disruptions

• Annual server sizing and SQL maintenance to verify that an institution’s server size is adjusted to accommodate growth

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All of these features provide financial institutions with security and soundness and the knowledge that their data is safe and that their software is up-to-date. Additional application services are offered at a discount of up to 50%, including a feed modification, feed add-ons, and core conversions or mergers.

Abrigo Assurance is backed by Abrigo’s industry-leading data and information security professionals to provide financial institutions with an extra layer of support and protection. It gives them access to resources often outside their budgetary reach, such as a full-time cybersecurity analyst. This level of support and expertise complements an institution’s current IT and information security staff, allowing them to increase the impact of their limited resources.

Abrigo Assurance is an enterprise solution that leverages the state-of-the-art Abrigo Data Center (ADC). The ADC is a highly resilient environment with risk monitoring levels not currently sustainable by typical community financial institutions. Over 2,000 financial institutions are hosted in the ADC, which is independently owned by Abrigo and housed in the United States. Abrigo is examined by FFIEC, in addition to meeting industry-standard SOC controls, and provides complete transparency into its audit and testing results on a dedicated due diligence portal.

Abrigo Assurance also provides industry best practice release processes, including a sandbox testing environment and assisted upgrades, so financial institutions can test product enhancements before they go live. This ensures a more seamless transition and less disruption to their AML and fraud monitoring practices.

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“The Abrigo Assurance Plan was created to help customers optimize their Abrigo software performance by improving release quality and enabling them to take full advantage of product upgrades,” said Dave McCann, Abrigo Chief Technology Officer. “Community financial institutions often have limited resources and need to make strategic investments in their software. This provides peace of mind that their investment is running as effectively and efficiently as possible. We introduced Abrigo Assurance to provide this to institutions at a fraction of the cost to do so in-house or with a third-party vendor.”

Over the past few months, financial institutions have scrambled to adopt digital and remote channels for work. Abrigo Assurance ensures their data stays secure while their team can have the confidence in knowing their financial crime and fraud detection software is working effectively and efficiently.

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