Abrigo, a provider of compliance, credit risk, and lending solutions, is poised to fortify its accounting and risk management capabilities through the acquisition of TPG Software, a financial software developer based in Houston. Founded in 1991, TPG Software specializes in front-to-back straight-through processing solutions tailored to assist banks, credit unions, and other financial institutions in streamlining risk management, accounting, and reporting processes across various investment portfolios.
TPG Software's comprehensive suite of offerings encompasses functions supporting trade capture, subledger accounting, client safekeeping, reconciliation, fund and liquidity management, regulatory reporting, and risk monitoring. Its investment accounting product, Portfolio Genius, facilitates transaction processing and data collection for fixed-income assets and liabilities, consolidating general ledger entries and reporting within a unified platform. This acquisition will enable Abrigo to expand its suite of technical accounting solutions while reinforcing its risk management and reporting capabilities. Integration of TPG's technology into Abrigo's existing expected credit loss (CECL) model, stress testing, income recognition, asset and liability management, and credit monitoring solutions is anticipated, aligning with the growing global investment accounting software market projected to reach $8.2 billion in the next three years. Abrigo emphasizes the significance of these capabilities amid the industry's heightened focus on liquidity, capital requirements, and earnings.
