QuestSoft Announces Upgrades to Its Compliance RELIEF Platform
February 6, 2020
QuestSoft Corporation has updated and refined its Compliance RELIEF software to provide multi-user capabilities and faster performance without a price increase or any per user charges. By recompiling the software code from the ground up and switching to a more efficient Microsoft SQL Express database engine, the QuestSoft programming and development team reduced the installation size of the program by 50 percent and reduced the size of peer databases by 95 percent.
All customers can now have multiple users simultaneously access data in various licensed modules, including HMDA RELIEF, CRA RELIEF and Fair Lending RELIEF, at no additional cost. The included SQL Express database can be installed on any machine that acts as a server, which prevents private customer data from having to be stored in the cloud.
"The number one request from customers since we launched Compliance RELIEF has been a multi-user capability," said Bhavin Shah, senior vice president of product development and technology at QuestSoft. "That became our highest priority so financial institutions could further streamline their compliance and regulatory reporting, analysis and submission."
The Fair Lending RELIEF module was also upgraded to expand market data analysis—including peer selection, comparison and review. Users can now generate parity reports to better communicate and assist management, marketing and compliance personnel in understanding lending performance for specific demographic groups or areas. The addition of peer mapping provides insight into lending distribution in higher risk geographies.
“With the continued and proposed changes to HMDA and CRA regulations, we pointed our development team towards establishing enhancements for future development needs,” said Leonard Ryan, president and founder of QuestSoft.
Other improvements to Compliance RELIEF Version 1.6.0 include advanced analytical reports, enhanced importing, and a simplified submission protocol for easier access to the CFPB Submission Platform. Quarterly submission of HMDA data is also now available within HMDA RELIEF for lenders subject to this requirement.
QuestSoft also recently added Frank Tuttle to its team as software architect for its Compliance EAGLE platform and associated products and services, and named Jeff Robb vice president of compliance sales.
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