Congressional Bank Automates Forecasting

Congressional Bank has selected Alight Mortgage Lending for continuous reforecasting. Alight Mortgage Lending gives depository and commercial bank CEOs, firm owners and their teams the ability to see the financial impact of decisions, before they’re made. Alight connects to the general ledger and pulls data from loan origination systems and capital market providers so that banks can run unlimited what-if scenarios and see the financial and operational impact of changes ripple through the entire enterprise to financials— including P&L, balance sheet and cash flow.

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Industry veteran Mike McAuley of Garrett McAuley & Co., a banking consulting firm that works with lenders to increase revenues, control costs and manage risk, introduced Congressional Bank’s founder, John Lane, to the team at Alight. “We endorse Alight for providing strong financial forecasting, modeling, and business planning to mortgage lenders,” McAuley said, “And we knew Alight could help Congressional in achieving its vision moving forward.”

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“We’re always thinking about where we want to be 2-3 years out and how to move the team in that direction,” said John Lane, Founder & Executive Vice Chairman of Congressional Bank, and Director of Residential & Community Lending. “Alight can help us integrate scenario analysis into decision making so that we may continue to professionalize our financial forecasting and reporting, and achieve our plans for growth and continued profitability.”

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Alight Mortgage Lending is cloud-based, accessible from anywhere, anytime and from any device, allowing management to optimize operations and make decisions in real time, even in changing markets.

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