Prologue™ Credit Loss Manager from Fiserv provides an estimate of current and expected credit losses based on relevant internal and external information. A CECL estimate includes all contractual cash flows expected to go uncollected or a commitment to extend credit.
Prologue Credit Loss Manager enables institutions to meet the Financial Accounting Standards Board's credit loss Accounting Standards Update (ASU), which requires more timely records of credit losses. The solution provides clients with an understanding of the broad range of information required to measure credit losses to include "reasonable and supportable" forecasts that affect expected collections (principal or payments) on financial instruments under current expected credit loss (CECL).
Prologue Credit Loss Manager allows consideration of any reasonable approach that reflects the possibility of a credit loss.
Hear the Fiserv Senior Product Management team walk through everything banks need to know about CECL, including which records to pull and which staff members to recruit to find to present first-rate data, in this BAI Banking Strategies Podcast.
The hosted version of Prologue Credit Loss Manager offers financial institutions a secure alternative to an on-premises solution. Financial institutions can reduce operational costs and infrastructure overhead as well as the time and cost of tasks like database backup, software upgrades and periodic maintenance. The hosted version meets the same rigorous Fiserv quality and security standards as our on-premises solution. Our off-site data recovery center ensures that data is always secured. In addition to integration and maintenance, the monthly subscription also includes access to unlimited online training and the Fiserv Answer Center, so staff always has the knowledge and technical support to operate efficiently.
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