We are in the process of seeking a new CRA software vendor.

Does any one have any recommendations for or against CRA Wiz? We know this is currently what the examiners (FDIC) are using and they had good comments. Any others? Thank you!

PennyLane:

I may be wrong but I understand that the FDIC designed their own proprietary system and since the merger of the OCC/OTS a week ago, the primary user of CRA Wiz is now the OCC.

That said, there are basically three main companies in the market that have any type of customer base/market share and participate in more than 200-300 CRA Exams per year

Wolters Klewer FS/PCi - CRA Wiz
QuestSoft - CRA RELIEF
Marquis - Centrax

These were the three companies that exhibited at the recent ABA Regulatory Compliance Conference in Washington DC.

Each has advantages. PCi is more well known for the high end comprehensive features, QuestSoft for integrations, simplicity and cost (for example Fiserv EasyLender and Harland LaserPro both recommend as their primary vendor), Marquis seems to do well when you are looking for a packaged CRA/HMDA/Fair Lending system.


Consider them all (but I hope you chose QuestSoft since in the interest of full disclosure I am the president of that company :-))

In my experience, CRA Wiz - while offering some of the most comprehensive features also has a pretty steep learning curve, and unless you are using it almost daily, it can be easy to forget how to use a lot of the features.

You may want to take that into consideration - i.e. will someone be utilizing the system on a daily basis, or will this be a "once-a-month" kind of thing? If you are a high volume lender and have the resources, CRA Wiz can offer advantages over other systems. If you are a lower volume lender with stretched resources, it may not be cost effective if you are not able to use its full potential

http://www.bankersonline.com/forum/ubbth...rue#Post1310874

http://www.bankersonline.com/forum/ubbth...rue#Post1486649

You really should check out a product called Comply made by RATA Associates. I have never used anything else so I can't tell you how it compares. But it has mapping and lots of reports and you can make your own reports. It is easy to use and the support staff is excellent. It's worth looking into just because of the cost savings. rataassociates.com

I completely agree.

I'd like to add that Wiz will slice & dice your data like a ginzu knife but if you are unable to either take the high dollar training or figure it out on your own, it's really not worth the money.

Having said that, I only use it monthly and for some of the features like mapping, only once a year. I've managed to figure it out (although I'm sure there's plenty that I have NOT figured out how to do yet), and it's worked well for us.