Fintech platform Sageworks taken offline after suspected cyberattack

Financial technology company Abrigo has restored its Sageworks risk management application, except for borrower-facing capabilities, following an outage triggered by "irregular activity" in its environment.

On October 30, the company began emergency maintenance and took the Sageworks application offline to investigate suspicious activity detected earlier that day, with the outage continuing through the weekend.

Abrigo provides cloud-based software and analytics solutions for community banks and credit unions across the United States. According to the company, it serves more than 2,400 entities.

Its Sageworks product is a software platform that helps lenders process loan applications, analyze borrowers’ finances, assess creditworthiness, and monitor loan portfolios.

Due to its nature, Sageworks handles sensitive information, including banking customer details.