DALLAS - Centrax Group, a compliance software company here, has up- graded its main product.
Centrax, which helps banks comply with the Community Reinvestment Act, fair-lending rules, and the Home Mortgage Disclosure Act, now geocodes and processes reports twice as fast.
The new product also can analyze information by household. Previously, Centrax could collect data on individual loans and by census tract, but could not compile loan information by household.
"It's obvious that CRA market share analysis is critical," said Les Kassing, the firm's principal. "The new Centrax is able to provide powerful analyses that satisfy this critical need."
Another new feature lets bankers set computers to print out reports during off-peak hours or when the bank is closed.
Bankers also can use the product to select HMDA or CRA files for self- assessments. They can sort, print, or export the information. Finally, the new software allows multiple users on the same network to simultaneously access data.
Centrax has 600 customers, including 55 of the 100 largest banks.