Proactively Identify and Address Fair Lending Issues
Your financial institution strives to do right by its clients every day. Lumify360’s Fair Lending Solution helps you keep that promise by identifying potential issues with how borrowers are treated, allowing you to make changes as needed.
The Lumify360 Fair Lending Solution
The Lumify360 Fair Lending Solution helps financial institutions to:
Key Features
- Identify disparate treatment by reviewing for notation of explicitly considered prohibited factors affecting protected ages, races, and genders.
- Evaluate redlining by geocoding your loan portfolio and mapping it against underserved zip codes.
- Avoid disparate impact by analyzing bank and credit union practices and testing the impact of otherwise neutral policies that disproportionately impact persons of protected classes.
Financial Institutions That Use Lumify360’s Fair Lending Solution
Don’t get caught by surprise in your fair lending exam. Identify, document, and address any lapses in fair lending practices with Lumify360’s Fair Lending Solution. Our software will review your data for instances of disparate treatment, disparate impact, and redlining, allowing your institution to take action.
Benefits
- Are better prepared for exams.
- Are able to ensure fair lending practices at all levels, even when collecting demographic data is not permitted.
- Can quickly and efficiently identify any lapses in fair lending practices, whether committed by internal personnel or third parties.
- Can provide a better, more equitable experience for all customers and members.
Why Choose 360factors?
360factors empowers organizations to accelerate profitability, innovation, and productivity by predicting risks and streamlining compliance.
Complete GRC
All the GRC tools you need integrated in one solution
Basic to Enterprise
From simple risk assessment to complete risk register and control testing
Speed & Execution
Insights into your risk program & control effectiveness
Fast Implementation
The cloud-based solution can be integrated within days
Flexible and Modular
Pick the modules you need for your business
Easy to Use
Automation and an intuitive interface ensure ease of useLearn How 360factors Empowers Customers to Manage Their Risk and Compliance Programs with Ease.
We look forward to working with 360factors to advance our enterprise risk and compliance programs for the bank while increasing the products and services we offer to the community.
Mark Casel Chief Risk Officer
We selected Predict360 due to its ease of use, banking industry design, and endorsement by the American Banker’s Association.
Eric Sprink President & CEO
Predict360’s banking workflows, risk library content, and endorsement from the American Bankers Association are a great fit for our bank.
Julie Dahle EVP and Chief Risk Officer
As part of our initiative to expand our products and services, we wanted to enhance our enterprise risk and compliance management to support this growth. Predict360 will enable our team to meet these goals efficiently.
David Claussen Chief Risk Officer
360factors’ solutions, powered by artificial intelligence, enables our organization to adapt and respond effectively to the ever-changing regulatory compliance landscape.
Joanna Chancellor Business Support Manager
The powerful features combined with the easy implementation of the cloud solution made Predict360 a great fit for our organization.
Steve Parker Chief Executive Officer
We believe our collaboration with 360factors and the technology they bring supports our vision for the future.
Gina Anonuevo Chief Compliance Officer
Deploying Predict360 is another step by us towards becoming a more streamlined and efficient organization.
Crystal Barnes Regulatory Compliance Specialist
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