âWeâre always pleased when a new associate member such as Sageworks joins the association,â said FBA Director of Associate Membership Marilyn Matherne. âAssociate members provide an important role in the FBA by offering their products and servicesâwhich are specifically designed for banksâto our membership.â
One of the products Sageworks offers to FBA members is Sageworks Analyst (http://www.sageworksanalyst.com), which empowers loan officers and credit analysts in community banks by enabling them to make accurate credit decisions in a timely manner and with lower origination costs. Specifically, the technology helps bankers:
- interpret the financial condition of loan applicants compared to current industry averages;
- examine highlighted risk areas that may have been overlooked;
- evaluate a business, including the principals behind the business, and any real estate owned by the principals to create a global cash flow and ratio analysis.
âOur software synthesizes complicated financial information and transforms it into easy-to-understand reports,â said Scott Ogle, President of Sageworks. âThe company is growing rapidly and is servicing more and more banks in the southeast because bankers are realizing how simple the product is to use. Weâre excited about the possibility of sharing it with more bankers in Florida.â
Presently, Sageworks is working with more than a dozen community banks in the state of Florida, all of which utilize its web-based solution, Sageworks Analyst.
âThe banking industry is becoming more and more efficient in part to the technological advances of companies such as Sageworks,â said FBA President and CEO Alex Sanchez. âThe FBA welcomes Sagworks as an associate member.â
The Florida Bankers Association serves its membership through untiring advocacy at the state and federal level, useful products and services and exceptional education programs. Established in 1888, the FBA is one of Floridaâs oldest trade associations and has a membership of more than 400 financial institutions ranging in size from small community banks, thrifts, and trust companies to medium-sized banks operating in several parts of the state, to large regional financial institutions that are headquartered in Florida or outside the state. Nearly 96 percent of banks operating in Florida are members.