Comparison
Three ways a bankspreads a credit file
We do not name competitors. The third column is the one most banks are actually choosing between, and almost nobody writes about it honestly.
Comparison table
| Topic | Ironwood | Cloud spreading platform | Your in house spreadsheet |
|---|---|---|---|
| Where borrower data lives | On your own file server. Nothing is uploaded and there is no tenancy. | On the vendor's infrastructure, under their controls and their subprocessors. | On your own network, usually on a shared drive or a laptop. |
| Cost structure | One published license fee plus a stated annual support fee. No per seat or per file charge. | Quote based annual subscription, commonly per seat or per file, escalating at renewal. | No line item, paid for in analyst hours nobody measures. |
| Time to running | Copy a folder, set your policy limits, work a live file the same day. | An implementation project measured in weeks or months, with data mapping and training. | Already running, until the person who built it leaves. |
| Who owns the formulas | Your bank. Formulas are visible worksheet formulas and the VBA is unlocked. | The vendor. The scoring logic is proprietary and not fully visible to you. | Whoever built it, and often only they understand it. |
| Consistency across officers | Every file uses the same workbook and the same policy tab, so grades are comparable. | Enforced by the platform, which is a genuine strength of the category. | Each officer drifts. Versions multiply and the math stops matching. |
| Examiner record | The memo stamps the policy set that graded the file, so last year's grade still shows last year's limits. | Depends on the vendor's audit trail and your ability to export it. | Reconstructed by hand from whatever version of the file still exists. |
| Borrower experience | One statement form the borrower fills in a browser or Excel. No portal, no login. | Often a borrower portal with an account to create and a password to reset. | A blank form emailed back and forth, then rekeyed by an analyst. |
| If the vendor disappears | You keep the workbooks, the files, and the unlocked code. Work continues. | Access ends at the end of the term. You export what you can. | Not applicable, but the same risk applies to the person who built it. |
| Where it is weakest | Excel with macros enabled, no core or origination system integration. | Cost, implementation time, and borrower data sitting outside the bank. | Key person risk, no consistency, and no defensible record. |
Where borrower data lives
- IronwoodOn your own file server. Nothing is uploaded and there is no tenancy.
- Cloud spreading platformOn the vendor's infrastructure, under their controls and their subprocessors.
- Your in house spreadsheetOn your own network, usually on a shared drive or a laptop.
Cost structure
- IronwoodOne published license fee plus a stated annual support fee. No per seat or per file charge.
- Cloud spreading platformQuote based annual subscription, commonly per seat or per file, escalating at renewal.
- Your in house spreadsheetNo line item, paid for in analyst hours nobody measures.
Time to running
- IronwoodCopy a folder, set your policy limits, work a live file the same day.
- Cloud spreading platformAn implementation project measured in weeks or months, with data mapping and training.
- Your in house spreadsheetAlready running, until the person who built it leaves.
Who owns the formulas
- IronwoodYour bank. Formulas are visible worksheet formulas and the VBA is unlocked.
- Cloud spreading platformThe vendor. The scoring logic is proprietary and not fully visible to you.
- Your in house spreadsheetWhoever built it, and often only they understand it.
Consistency across officers
- IronwoodEvery file uses the same workbook and the same policy tab, so grades are comparable.
- Cloud spreading platformEnforced by the platform, which is a genuine strength of the category.
- Your in house spreadsheetEach officer drifts. Versions multiply and the math stops matching.
Examiner record
- IronwoodThe memo stamps the policy set that graded the file, so last year's grade still shows last year's limits.
- Cloud spreading platformDepends on the vendor's audit trail and your ability to export it.
- Your in house spreadsheetReconstructed by hand from whatever version of the file still exists.
Borrower experience
- IronwoodOne statement form the borrower fills in a browser or Excel. No portal, no login.
- Cloud spreading platformOften a borrower portal with an account to create and a password to reset.
- Your in house spreadsheetA blank form emailed back and forth, then rekeyed by an analyst.
If the vendor disappears
- IronwoodYou keep the workbooks, the files, and the unlocked code. Work continues.
- Cloud spreading platformAccess ends at the end of the term. You export what you can.
- Your in house spreadsheetNot applicable, but the same risk applies to the person who built it.
Where it is weakest
- IronwoodExcel with macros enabled, no core or origination system integration.
- Cloud spreading platformCost, implementation time, and borrower data sitting outside the bank.
- Your in house spreadsheetKey person risk, no consistency, and no defensible record.
Next step
Compare it against a real file
Fifteen minutes, start to finished memo. The price is published and the limits are written down.