PCi Announces Common Technology Platform for Upgraded CRA Wiz(R) and Fair Lending Wiz
New System Allows Financial Institutions to Manage CRA, HMDA, and Fair Lending Issues on a Single Framework
BOSTON June 6, 2006--PCi Corporation, a part of Wolters Kluwer Financial Services, today announced CRA Wiz and Fair Lending Wiz will now share the same proven technology platform in the new versions of these two best-selling compliance software programs.
CRA Wiz combines leading software automation with proven professional services to deliver a complete CRA compliance solution. Using the most trusted data in the industry, it effectively streamlines the process of Community Reinvestment Act compliance reporting from data collection and scrubbing through the preparation of reports for CRA compliance review. This new version now also enables robust fair lending analysis.
Fair Lending Wiz is a comprehensive automation and management control solution that helps reduce discriminatory risk at multiple points in the lending process. Expert technology combined with professional services optimizes fair lending efforts to enhance loan portfolio value while mitigating risk. This newest version of Fair Lending Wiz provides improved data management and enhanced workgroup capabilities over prior versions.
The fusion of CRA Wiz and Fair Lending Wiz into a single solution allows for better usability as well as a much more collaborative work environment. Data files remain available to both Fair Lending Wiz and CRA Wiz users since the programs share a common data repository, and more than one user in various locales can access files for data scrubbing, HMDA reporting, HMDA analysis, and fair lending analysis.
"The upgrade to 6.6 was driven directly by the needs of our customers," said Raffi Festekjian, executive officer of PCi. "The financial institutions who use CRA Wiz and Fair Lending Wiz have expressed a strong interest in a cohesive platform for both of these programs, making compliance across the institution a more simple process. With version 6.6, multiple users at the same institution can now enjoy this collaborative work environment for managing CRA, HMDA, and fair lending."
Customers who only license one program can turn on the other at any time by calling PCi and requesting a new license key.
Two new plug-ins, Custom Reports Designer and Historic Data Auditing, are also available in version 6.6 and are compatible with both CRA Wiz and Fair Lending Wiz. These plug-ins will allow the user more flexibility than ever before in creating custom reports targeted for specific institutions' needs as well as tracking data integrity issues.
About PCi Corporation
PCi Corporation, a part of Wolters Kluwer Financial Services, is the industry's choice for institutions seeking to keep lending in compliance with both regulatory and internal business standards. Over 2,000 institutions, including 95 of the top 100 lenders and many industry regulators, rely on PCi's software and professional services to monitor, detect, analyze and resolve compliance demands throughout the entire lending process. Compliance expertise, acquired during more than 10 years of operating success, positions PCi to help lenders produce loans that minimize risk, identify lending opportunities, add value to portfolios and serve the needs of their communities. PCi is based in Boston, Mass. To learn more about PCi, visit www.pciwiz.com.
Wolters Kluwer is a leading multinational publisher and information services company. The company's core markets are health, corporate services, financial services, tax, accounting, legal, regulation, and education. Wolters Kluwer has annual revenues (2005) of EUR 3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, see www.wolterskluwer.com.