Banks Use CRA Analytics to Manage Compliance and Navigate Mergers

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Nov 13, 2018, 08:43 ET

CHARLOTTE, N.C., Nov. 13, 2018 /PRNewswire/ -- In navigating mergers and acquisitions, banks today are focusing not only on growth, but also on compliance. TRUPOINT Partners, Inc., a leading provider of banking compliance software and consulting, helps financial institutions do just that.

TRUPOINT Analytics is a compliance analysis software designed to help banks, credit unions, and mortgage companies easily and efficiently understand their Fair Lending, HMDA, CRA, and Redlining risk.

This image shows the interactive mapping functionality in TRUPOINT's CRA Analytics. You can see here how the filters on the right change are displayed on the map.

First Financial Bank, a TRUPOINT customer, leverages the CRA Analytics platform to analyze their CRA data. During a recent merger, the $13.8B Ohio bank also used CRA Analytics to analyze the individual and combined data, and work proactively to identify potential CRA risk.

"TRUPOINT Analytics is absolutely time-saving! There's no way that a team of people could go through and review all the data that needs to be looked at without it," said First Financial's Heather Montgomery, Community Development Analyst, and Gina Balzer, Community Development Coordinator.

CRA Analytics is designed to be a versatile, yet purpose-built, compliance solution. The First Financial team does an excellent job of getting the most value out of the software by using it in a variety of helpful ways. Here's how:

During a recent CRA exam, they used CRA Analytics to answer regulator questions, and validate their CRA data and activities.
Using CRA Analytics has also helped reduce the potential for errors and improved data quality.
The marketing team also uses CRA Analytics to build more targeted campaigns that better serve their communities.
As the bank grows and enters new markets, they use CRA Analytics to learn more about the community's needs.

The team at First Financial is prioritizing compliance, and using that insight to grow successfully. They are supported by TRUPOINT in those efforts with unlimited support and guidance, training, and guided CRA Analytics reviews with a TRUPOINT analyst.

One benefit that really stands out to First Financial Bank? TRUPOINT's commitment to their success.

"The customer service is great," added Montgomery and Balzer. "The team is quick to respond. If we reach out, TRUPOINT is always ready to help."

TRUPOINT Partners gives you an easy-to-use, cloud-based platform with support and resources that are available 24/7. That means that you can focus on what matters: managing compliance, reducing risk, and understanding what your data says.

To learn more about CRA Analytics:

About TRUPOINT – TRUPOINT Partners is a FinTech company based in Charlotte, NC, that provides software and services designed to help financial institutions reduce compliance risk and encourage growth. TRUPOINT Analytics is a powerful analysis platform for Fair Lending, HMDA, CRA and Redlining compliance, as well as Branch Strategy.

To learn more about TRUPOINT, call 704.401.1730 or email [email protected].

Media contact:
Kinsey Sullivan
[email protected]
704-401-1730

SOURCE TRUPOINT Partners