Abrigo
The Risk Management Solution for Financial Institutions

As CTO of Abrigo, a leader in compliance, credit risk, and lending solutions for financial institutions, Ravi Nemalikanti knows that customer service can make or break a company in the technology space. Because Abrigo products are complex and configurable, customers require a certain amount of support to feel confident about their systems. Nemalikanti’s goal is to provide the best partner relationship through top-notch products and support.

“People are the best asset of the company,” says Nemalikanti. “We have the best talent in the space, whether it is product experts or industry experts, who can serve our customers in an advisory capacity.”

Nemalikanti began his career as a programmer, and understanding the product life cycle allows him to strategize product development priorities and drive customer-centered innovation. He leverages ideas from multiple customer-feedback loops to build and prioritize numerous product roadmaps. Abrigo orchestrates thousands of discovery sessions with customers, involving them early in the development process to funnel their feedback into the finished product. In his first year at Abrigo, Nemalikanti implemented hundreds of customer-sourced product enhancements.

Abrigo's focus on customer-driven innovation has led to the development of its Abrigo Connect platform, which consolidates data from various sources within a financial institution to provide dashboards for easy access to previously siloed information. Nemalikanti is passionate about making data actionable for customers and recently led the initiative to add greater AI capabilities to Abrigo Connect. Recently Abrigo has brought on partners like Charm Solutions and ThoughtSpot to empower more and greater AI for its customers.

“The evolution of GPT, any pre-trained transformer, machine learning algorithms, and large language models mean [these tools] have a lot of applicability and have the potential to bring quite a bit of efficiency and innovation into banks and credit unions,” says Nemalikanti.

“It’s important to build consistent data models that can then feed into language models, whether for filing a Suspicious Activity Report or coming up with a credit memo.”

One application of AI and machine learning is financial crime detection. Abrigo integrates third-party data, machine learning algorithms, and programs to assist banks and credit unions detect fraudulent transactions. Flags may be raised based on evidence of check tampering or inconsistencies with an individual's transaction history. But according to Nemalikanti, AI can also help with talent retention by eliminating mundane tasks.

“When banks and credit unions want to hire somebody, they can’t keep them for too long if they don’t give them interesting work,” says Nemalikanti. “You want to ensure that relationship management is what they focus on, and we have the innovation now available in machine learning and AI that you can.”

We hire the best talent in the space, whether it is product experts or industry experts, who can serve our customers in an advisory capacity

Abrigo's solutions are uniquely positioned to help financial institutions with the challenge of attracting and retaining talent. By automating mundane tasks, employees can focus on more engaging work. The solutions also improve customer satisfaction and promote growth. The lending and credit risk solution, for example, simplifies the loan application process for individuals and small businesses.

As financial institutions seek partners to help them navigate the complexities of changing regulations and rising risks, Abrigo's expertise and configurable solutions position it as the future leader in the risk management space.