Ncontracts Case Studies NFAIRLENDING CASE STUDY: Rockland Trust Uncovers New Opportunities While Reducing Redlining Risk with Nfairlending

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	NFAIRLENDING CASE STUDY: Rockland Trust Uncovers New Opportunities While Reducing Redlining Risk with Nfairlending Ncontracts

NFAIRLENDING CASE STUDY: Rockland Trust Uncovers New Opportunities While Reducing Redlining Risk with Nfairlending

Ncontracts

Technology Category	Analytics & Modeling - Real Time Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Regulatory Compliance Monitoring Predictive Quality Analytics
Services	Data Science Services
Challenge	Rockland Trust, a bank with a mix of commercial and consumer loans in Massachusetts and Rhode Island, has grown significantly over the past decade, acquiring several banks and expanding its loan portfolio. With continued regulator and examiner scrutiny of banks’ Reasonably Expected Market Area (REMA), Allen Bernier, vice president compliance and fair lending officer at Rockland Trust, wanted to ensure his institution was taking all the necessary steps to ensure compliance. One of his chief tasks is ensuring that his bank doesn’t have unchecked Redlining risk. When using a competitor’s HMDA product, Bernier’s team would spend all day tweaking data and working on the formulas. This left them with very little time to focus on analyzing the most important thing—what the data actually meant. Read More
About Customer	Rockland Trust is a bank founded in 1907, underwriting a mix of commercial (70 percent) and consumer (30 percent) loans in Massachusetts and Rhode Island. The bank has grown significantly over the past decade, acquiring several banks and expanding its loan portfolio. The bank is valued at $13 billion and is located in Rockland, MA. It has been a customer of Nfairlending since 2016 and its primary examiner is the FDIC. One of the key tasks of the bank is ensuring that it doesn't have unchecked Redlining risk, a task that is overseen by Allen Bernier, the vice president compliance and fair lending officer at Rockland Trust. Read More
Solution	Rockland Trust wanted to find a cost-effective solution that would help it manage compliance, reduce compliance risk, and better understand its lending data. It found all that and more in Nfairlending, a secure, web-based solution that allows the bank to easily manage its fair lending compliance processes for HMDA and non-HMDA loans, with instant analysis of data and robust reporting that saves time and effort. Bernier uses the Nfairlending Redlining Analytics module to analyze his bank’s data to find communities that are undermarketed—a potential indicator of redlining. To ensure there are no REMA issues or redlining risk with his bank’s marketing practices, Bernier collects a list of zip codes where the marketing department sends direct mail advertising and plots heat maps of where they are sent. Using Nfairlending’s Redlining Analytics, he adds the zip codes into the analysis area parameters and draws a map by census or zip code. Comparing the two maps, he can determine if areas in or near low or moderate-income (LMI) communities are being excluded. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Regulatory Compliance Monitoring

Predictive Quality Analytics

Services

Data Science Services

Challenge

Rockland Trust, a bank with a mix of commercial and consumer loans in Massachusetts and Rhode Island, has grown significantly over the past decade, acquiring several banks and expanding its loan portfolio. With continued regulator and examiner scrutiny of banks’ Reasonably Expected Market Area (REMA), Allen Bernier, vice president compliance and fair lending officer at Rockland Trust, wanted to ensure his institution was taking all the necessary steps to ensure compliance. One of his chief tasks is ensuring that his bank doesn’t have unchecked Redlining risk. When using a competitor’s HMDA product, Bernier’s team would spend all day tweaking data and working on the formulas. This left them with very little time to focus on analyzing the most important thing—what the data actually meant.

About Customer

Rockland Trust is a bank founded in 1907, underwriting a mix of commercial (70 percent) and consumer (30 percent) loans in Massachusetts and Rhode Island. The bank has grown significantly over the past decade, acquiring several banks and expanding its loan portfolio. The bank is valued at $13 billion and is located in Rockland, MA. It has been a customer of Nfairlending since 2016 and its primary examiner is the FDIC. One of the key tasks of the bank is ensuring that it doesn't have unchecked Redlining risk, a task that is overseen by Allen Bernier, the vice president compliance and fair lending officer at Rockland Trust.

Solution

Rockland Trust wanted to find a cost-effective solution that would help it manage compliance, reduce compliance risk, and better understand its lending data. It found all that and more in Nfairlending, a secure, web-based solution that allows the bank to easily manage its fair lending compliance processes for HMDA and non-HMDA loans, with instant analysis of data and robust reporting that saves time and effort. Bernier uses the Nfairlending Redlining Analytics module to analyze his bank’s data to find communities that are undermarketed—a potential indicator of redlining. To ensure there are no REMA issues or redlining risk with his bank’s marketing practices, Bernier collects a list of zip codes where the marketing department sends direct mail advertising and plots heat maps of where they are sent. Using Nfairlending’s Redlining Analytics, he adds the zip codes into the analysis area parameters and draws a map by census or zip code. Comparing the two maps, he can determine if areas in or near low or moderate-income (LMI) communities are being excluded.

Impact #1	Generate more new business opportunities. The redlining tool not only allows Rockland Trust to do a comprehensive fair lending review but it also allows them to find opportunities where they could better serve the communities they operate in.
Impact #2	Improved examinations. During an exam, examiners thought there might be a compliance issue and Rockland Trust needed some redlining analysis right away. The bank uploaded the data and used Nfairlending to prove that there was no malicious activity.
Impact #3	Fair lending insights with none of the math. The tool is easy to use and doesn't require advanced mathematical skills.

Impact #1

Generate more new business opportunities. The redlining tool not only allows Rockland Trust to do a comprehensive fair lending review but it also allows them to find opportunities where they could better serve the communities they operate in.

Impact #2

Improved examinations. During an exam, examiners thought there might be a compliance issue and Rockland Trust needed some redlining analysis right away. The bank uploaded the data and used Nfairlending to prove that there was no malicious activity.

Impact #3

Fair lending insights with none of the math. The tool is easy to use and doesn't require advanced mathematical skills.

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Overview

NFAIRLENDING CASE STUDY: Rockland Trust Uncovers New Opportunities While Reducing Redlining Risk with Nfairlending

Operational Impact