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HomeBankingRisk management specialist Abrigo snaps up TPG Software for investment accounting tech

Risk management specialist Abrigo snaps up TPG Software for investment accounting tech

Date:

  1. Acquisition of TPG Software by Abrigo:
    • Abrigo, a provider of compliance, credit risk, and lending solutions, has acquired TPG Software, a financial software developer headquartered in Houston, USA.
  2. TPG Software’s Offerings:
    • TPG Software offers a front-to-back straight-through processing solution designed to streamline risk management, accounting, and reporting processes for banks, credit unions, and other financial services firms.
    • Its solutions include trade capture, sub-ledger accounting, client safekeeping, reconciliation, fund and liquidity management, regulatory reporting, and risk monitoring.
    • One of its key products, Portfolio Genius, facilitates transaction processing and data collection for fixed-income assets and liabilities, consolidating general ledger entries and offering report management functionalities.
  3. Integration and Enhancement of Abrigo’s Offerings:
    • The acquisition will enable Abrigo to enhance its suite of technical accounting solutions and strengthen its risk management and reporting capabilities for financial institutions.
    • TPG’s technology will be integrated into Abrigo’s current expected credit loss (CECL) model, stress testing, income recognition, asset and liability management, and credit monitoring solutions.
  4. Market Potential and Importance:
    • The global investment accounting software market is projected to reach $8.2 billion within the next three years.
    • Abrigo emphasizes the importance of these capabilities, especially given the industry’s focus on liquidity, capital requirements, and earnings.

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