ICBA CRA Solutions has announced a strategic alliance with Ncontracts to enhance compliance management for community banks under the Community Reinvestment Act (CRA). This collaboration aims to provide community banks with precise and actionable insights to meet CRA requirements effectively.
David Lenoir, president and CEO of ICBA CRA Solutions, stated, "At ICBA CRA Solutions, we believe that community banks can drive real impact when they have the right data and resources at their fingertips." He added that this partnership would help banks transform complex compliance tasks into meaningful actions that benefit communities.
The alliance combines ICBA CRA Solutions' expertise in optimizing CRA programs with Ncontracts' Nrelief solution. This tool assists in analyzing, geocoding, mapping loan and deposit data, and tracking investments for better understanding of a bank's CRA performance.
Michael Berman, founder and CEO of Ncontracts, expressed enthusiasm about the partnership. "Ncontracts is excited to support ICBA CRA Solutions as it helps community banks meet CRA requirements and demonstrate their commitment to and investment in their local communities," he said.
ICBA CRA Solutions provides various services including education, training, support services, and peer groups for community banks aiming to optimize their CRA compliance. Since 2000, they have assisted banks nationwide in earning meaningful CRA credit through various programs.
Ncontracts offers integrated risk management software solutions to over 5,000 clients across the United States. Their software suite supports financial institutions in achieving risk management and compliance objectives through user-friendly cloud-based tools.
For more information on ICBA CRA Solutions or Ncontracts, visit icba.org/cra or ncontracts.com respectively.
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