79.2 F
New York
HomeBusinessBanking on cloud: TowneBank primes for continued growth with SAS

Banking on cloud: TowneBank primes for continued growth with SAS

Banking on cloud: TowneBank primes for continued growth with SAS

Midsize bank uses cloud-based solutions from SAS to tackle regulatory compliance, navigate risk and wow its members

CARY, N.C., May 22, 2024 /PRNewswire/ — Six years ago, TowneBank faced a challenge: new accounting regulations and reporting requirements. As the community bank prepared for the looming current expected credit loss (CECL) accounting standard, its staff was lean and its technology very much in progress. The Virginia-based commercial bank chose data and AI leader SAS to help it meet the compliance deadline.