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Banks Now Using Redlining Analytics to Find New Business Opportunities

TRUPOINT Analytics a leading business intelligence software from TRUPOINT Partners, is now being used by customers in order to seek out and capitalize on new business opportunities.
TRUPOINT Analytics is a compliance analysis software designed to help banks, credit unions, and mortgage companies comply and grow. With its data-driven insights, compliance professionals can easily and efficiently analyze Fair Lending, HMDA, CRA, and Redlining risk.

One of TRUPOINT’s customers, Rockland Trust, has been using the company’s Redlining Analytics platform in an innovative way.

This $8.1B bank, based in Rockland, MA, previously used a competitor’s HMDA analysis product that forced them to spend all day tweaking data and formulas. This left them with little time to analyze what the data truly meant. With regulators and examiners paying more attention than ever to an institution’s Reasonably Expected Market Area (REMA), they turned to TRUPOINT as an easier-to-use and more cost effective compliance analytics option.

“The Redlining tool not only allows us to do a comprehensive Fair Lending review, but it also allows us to find opportunities where we could better serve the communities we operate in,” says Rockland Trust’s VP – Compliance & Fair Lending Officer, Allen Bernier. “Compared to the competitor’s product that we were using before, TRUPOINT Analytics is a thousand times better and less expensive. Plus, you don’t have to be a mathematician to use it.”

By partnering with TRUPOINT, Allen is able to use Redlining Analytics to identify new opportunities. Here’s how:
1. Allen wants to ensure that there are no REMA issues or redlining risk with his bank’s marketing practices.
2. He gets a list of zip codes from their marketing department for where some direct mail advertising is being sent and they are then plotted on a map to create a heat map.
3. Allen then uses TRUPOINT’s Redlining Analytics module to add the zip codes into the analysis area parameters.
4. Using Redlining Analytics, Allen can draw maps by census or zip code. He looks at the map of where the direct mail pieces are being sent to determine if areas in or near LMI communities are being missed
5. Using insights from TRUPOINT, Rockland Trust’s marketing team runs a direct mail campaign for zip codes that were undermarketed.
6. Allen follows up with a review with TRUPOINT’s Customer Success Management team. TRUPOINT then reviews to make sure there aren’t risk that Rockland hasn’t thought about.
7. He can then track any applications or originations in order to see if their marketing campaign has been successful.

TRUPOINT always takes a customer-centric approach when building its platforms, and that much is apparent through Allen’s experience with the Redlining Analytics module. Working with the head of the mortgage group, Allen would hear, “Why aren’t we doing loans here?” He then used TRUPOINT to show them what the competitors are doing and how there remain loans to be made where they thought there wasn’t.

In another instance, during an exam, examiners thought there might be a Redlining issue. Rockland needed analysis done right away. The bank quickly uploaded the data and reviewed it, using TRUPOINT Analytics to prove that there was no malicious activity.