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DatA Quality: Compliance Would Commend
Geocoding capabilities embedded within the lending process help to ensure that addresses are recorded properly at every stage. The end results helps institution’s more easily determine an applicant’s eligibility for CRA loans or other special loan programs and products at the point of sale, shortening the qualification process and reducing loan candidate defection rate.
Compliant & Consistent Data
Data quality and standardization are the critical success factors for decision support in transactional IT systems. Inaccurate or incomplete data leave institutions with a reduced understanding of its customers and prospects, product offerings, and physical assets and locations. This can translate to fines and penalties, lost productivity, and in many cases lost revenue opportunities.
Quality Data Means Quality Decisions
With a streamlined, enterprise data quality initiative, lenders can proactively enforce data quality, eliminate process inefficiencies, and identify business opportunities. Enterprise data quality initiatives can support such functionality as geocoding and HMDA error checks, integrated with any system, at any point in the process. With a flexible, scalable platform, lenders can perform a number of tasks, including flood determinations, anti-predatory lending analysis, and others at the front-end or from a middle office data warehousing solution. |
A bank president wanted to identify CRA eligible loans for sale on the secondary market. To make it happen, front-end geocoding was needed for the underwriters to receive LMI information with each application. PCi helped ensure that loan officers were making all loans possible to LMI borrowers or into LMI tracts.
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