It might be the most famous quote of the founder and leader of the world’s biggest company. “Do not try to do everything. Do one thing well.” Steve Jobs didn’t invent the idea. It’s famously identified as a philosophy (Unix) and a Zen habit, and has long been a tenet of successful entrepreneurs. As Facebook’s Mark Zuckerberg voiced it: “We just believe that an independent entrepreneur will always beat a division of a big company.”
Wherever you find it, the message is the same – and quite clear: Companies that stay focused do best for their customers.
And so, too, it is how we at MST have worked in the financial industry. Our single focus is helping financial institutions manage their most critical quarterly calculation, the allowance. The MST Loan Loss Analyzer platform is our only financial technology solution, which means that all education, development, support, and training are focused solely on needs directly involved with the allowance. The pioneer of allowance-related automation, MST remains the category leader.
Our singular focus allows us to stay small, agile and quick to react to changes in the industry and the needs of our clients. It is reflected in our very structure: our owners and shareholders are the people who work in our business every day. Our earnings are re-invested, not distributed to external, unconnected shareholders.
Focus in testing, developing, and enhancing ALLL related functionality has resulted in a long list of MST firsts, including:
2006 – The first ALLL software solution
2007 – Historical Loss Migration
2011 – PD/LGD functionality & problem loan reporting
2011– The first and still only national conference dedicated to the allowance
2015 – Shadow Loss Analysis
2016 – Virtual Economist
Today our focus has strengthened our leadership, so critical to financial institutions at this time in banking history. The impact of the new CECL accounting standard and the required transition is not only substantial but enterprise-wide. Our dedicated efforts will serve you well as you weave your way through this challenging transition. From our software developers to customer service representatives, we will provide the service and functionality to help you manage the transition, streamline your allowance processes and address the unique challenges presented by your institution and loan portfolio.