CSI Improves Fair Lending Compliance with TRUPOINT Partners
- Partnership provides institutions with more accurate, efficient means for handling compliance-
PADUCAH, Ky., Nov. 15, 2012 – Heading into 2013, banks face increasing pressure regarding Fair Lending compliance and examination. Heightened exam scrutiny is causing many institutions to reevaluate their current compliance programs to ensure their Fair Lending compliance efforts can meet both the “spirit and letter” of the law.
In an effort to simplify this process, Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end technology solutions that empower financial institutions to remain competitive, compliant and profitable, today announced a partnership with Charlotte, N.C.-based TRUPOINT Partners to offer its Comparative Analytics Engine to CSI’s NuPoint customers. TRUPOINT’s Comparative Analytics Engine is a Software-as-a-Service (SaaS)-based comparative analysis engine that greatly simplifies compliance with Fair Lending, the Home Mortgage Disclosure Act (HMDA) and the Community Reinvestment Act (CRA).
The Bank of Kentucky, a Florence, Ky.-based CSI customer, utilizes TRUPOINT to automate HMDA and CRA compliance. “The partnership between CSI and TRUPOINT has streamlined our ability to perform comparative analysis and peer reviews of our lending practices,” said Gary Menne, vice president at The Bank of Kentucky. “TRUPOINT works with CSI to pre-load a combination of public, private and third-party data, which makes statistical and comparative data analysis much easier than before.”
The partnership allows CSI customers to leverage TRUPOINT Analytics platform and compliance expertise to meet the increased challenge Fair Lending and CRA compliance. With the established relationship between TRUPOINT and CSI, NuPoint users gain the following efficiencies:
- Quickly perform statistical analysis of all loan activity
- Identify lending disparities and understand them before the exam
- Access pre-built reporting for Fair Lending, Peer Analysis, and Consumer lending
- Receive interpretive guidance and support from TRUPOINT compliance analysts
“As a technology provider, we understand the significant impact data analysis has on compliance and wanted to provide our customers with a more robust process for managing Fair Lending, HMDA and CRA compliance,” said Steve Powless, chief executive officer for CSI. “After searching for a data analysis company to help improve the compliance process, we selected the team at TRUPOINT Partners not only for their solid approach to data analysis, but also for their commitment to high-quality user support.”
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 100 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.
About TRUPOINT Partners
TRUPOINT Partners is an independent regulatory compliance organization actively serving over 300 financial institutions in Fair Lending, HMDA, CRA and related services. The company’s cloud-based TRUPOINT Analytics platform enables financial institution executives to access, within minutes, hundreds of analytics and reports using public, private and proprietary data sets. For more information about TRUPOINT Partners, visit www.trupointpartners.com.