Congressional Bank Selects Alight Mortgage Lending™

Congressional Bank Selects Alight Mortgage Lending™

Northeastern commercial bank signs with Alight for what-if scenario analysis and dynamic forecasting.

Alight, Inc., a leading provider of cloud-based applications for real-time, dynamic scenario comparison and analysis, today announced that Congressional Bank has selected Alight Mortgage Lending for continuous reforecasting.

Alight Mortgage Lending, built from the ground up by mortgage industry veterans, 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.

Industry veteran Mike McAuley of Garrett McAuley & Co., the mortgage industry’s go-to 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.”

“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.”

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.

“We look forward to supporting the Congressional team’s ambitious goals,” said Jared Huff, Managing Director, Alight Financial Services. “Congressional joins a growing list of banks that are leveraging the power of Alight’s real-time what-if analysis to evaluate the best course toward increased profitability and growth,” Huff continued. “Management can evaluate challenges and opportunities from every angle and then develop not only a ‘Plan A,’ but also plans B, C and D, as well.”

About Alight, Inc.

Alight, Inc. is the leading provider of industry-specific, cloud-based applications that give customers the power to see the financial impact of every decision, before they make it. Alight works with firms in mining, mortgage banking and other industries. For more information: alightinc.com.

About Congressional Bank

Congressional Bank is a commercial bank located in the Washington, D.C. metropolitan area. In addition to focusing on the lending and deposit needs of small businesses and consumers, Congressional Bank offers several niche products nationwide including political campaign deposits, Corporate lending and Health Care finance. Congressional Bank is committed to being a safe, secure and green partner for its clients’ financial success. The Bank currently serves its customers from locations in the District of Columbia, Maryland, Virginia, Columbus and Indianapolis and online at www.congressionalbank.com.

For more information: congressionalbank.com