Wintrust gets executive buy-in for DFAST software

 

Transcript

So, the first year when we filed DFAST, the regulators had come for examination, and they saw that this was a manual process. We actually presented to our committee and the board and as part of next year’s or future enhancement, we said we would be bringing in Wdesk. We would be leveraging technology to make sure everything is automated and all the documentation is at a place where the regulators would have access to, internal audit would have access to, and if needed, our board and ECC members. They were pretty thrilled about that.

We already had Wdesk as part of our SEC filing, and for SEC filing, the board members, our committee, our CEO, COO, our external auditors, everyone gets involved in Qs and Ks. That’s one of the biggest documents that the CFO and the CEO sign off. They have this comfort level with Wdesk for our SEC. So when it was told to them we were going to leverage Wdesk for DFAST as well, they were pretty thrilled, and they were excited we were going to do that.

One of the comments we got from the regulators during the last year’s exam was that, "We have not seen this entire process anywhere else built to this extent in Wdesk." So we really got good brownie points from the regulators last year for examinations, and they are always complimentary of the technology and Wdesk that we keep using.

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