Financial technology company Abrigo shut down its Sageworks risk management platform on October 30 after discovering suspicious activity in its systems. The application, which serves more than 2,400 financial institutions including community banks and credit unions, remained offline through the weekend while the company conducted an investigation. Abrigo has since restored most Sageworks functionality, though borrower-facing features remain unavailable. The company has not disclosed specific details about the nature of the incident.
Sageworks is a loan processing and portfolio management tool that handles sensitive customer banking information. The outage affected the Online Portal Now, Sageworks Analyst, and Sageworks API services. Earlier in the year, a threat actor claimed responsibility for stealing data from Abrigo, though no breach has been officially confirmed. Some cybersecurity researchers have advised financial institutions using Abrigo’s platform to rotate their API keys as a precautionary measure.
Source: Read the full story at BleepingComputer
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