Breaking News
Finastra Launches Small Business Data Collection Solution to Help Financial Institutions Comply With DFA 1071
Finastra, a global provider of financial software applications and marketplaces, today announced the launch of its Small Business Data Collection module, which enables banks to easily comply with the Equal Credit Opportunity Act (ECOA) small business data collection requirements, mandated by Section 1071 of the Dodd-Frank Act (DFA). The module, deployed as part of Finastra’s LaserPro Compliance Reporter solution, streamlines data collection, validation, storage, report generation, and the annual filing process, saving financial institutions time and effort while ensuring accuracy and regulatory compliance.
“When new regulations are implemented, it is crucial that financial institutions plan ahead to ensure compliance,” said Mitch Lucas, head of retail lending at Finastra. “As a financial software solutions provider, it is our goal to make these challenges as easy as possible to overcome, and we look forward to helping community banks and credit unions across the country simplify their data collection procedures so that they can focus on serving their customers and communities.”
The Small Business Data Collection module features intuitive integrated workflows, simple checklists to assess whether loans fit the definition of covered transactions, and aids compliance teams with the firewall requirement, keeping applicants’ sensitive information confidential from loan decision makers. The module prompts users to enter required data, such as the type and purpose of the credit, then facilitates the collection and secure storage of the business owner’s sensitive demographic information, offering users multiple options for collection. Sensitive demographic information is returned to a secure location within the module, ensuring information is fully protected.
The data collection module is a cloud-native solution that integrates seamlessly with Finastra’s suite of retail lending products, including LaserPro, CreditQuest, DecisionPro, and Originate. To learn more, download Finastra’s fact sheet.
People In This Post
Companies In This Post
- Brightbeam on Cutting Through the AI Fog Read more
- TSAM London: Clearwater Analytics on The Real Buy-Side Challenge Read more
- Rightway Parking Highlights MSP’s Edge for On-Time Travel Read more
- NatWest Complete Remortgage in Two Working Days via PEXA’s Digital Infrastructure Read more
- Banking Circle Introduces Stablecoin Settlement Services Following CASP License Approval Read more
V12 Retail Finance Q1 Data Shows Continued Growth in Big-Ticket Retail Finance as UK Consumers Become More Selective
New quarterly data from V12 Retail Finance shows that UK consumers continued to turn to point-of-sale finance for high-value purchases in the first three months of 2026, with total finance values across the platform growing 4% between January and March, compared to Q1 2025.
Japan’s Mizuho Financial Group Strengthens Security Operations
Tanium, a leader in Autonomous IT, announced today that Mizuho Financial Group, one of the world’s largest full-service financial conglomerates, has expanded its deployment of the Tanium Autonomous IT Platform to enhance its security operations and threat hunting driven by real-time endpoint intelligence.
FloQast Opens Berlin Hub to Support Accounting Transformation Across DACH
FloQast, the Accounting Transformation Platform created by accountants for accountants to automate accounting and audit workflows with AI,, has announced the opening of its new Berlin hub, marking a strategic expansion across the DACH region. The move reflects growing demand from finance teams facing increased regulatory pressure, operational complexity, and limited headcount, while seeking practical ways to adopt AI with confidence.
Forte Bank Chooses CSI as Core Technology Provider to Accelerate Growth and Modernize the Customer Experience
CSI, a leading provider of end-to-end financial software and technology, today announced that Forte Bank has selected CSI as its core banking provider. The independent community bank will implement CSI’s NuPoint® core platform, along with fully integrated Apiture® digital banking as well as loan origination capabilities, enabling the bank to modernize operations, enhance customer experiences, and drive future growth.
AU10TIX Selects Camunda to Orchestrate High-Volume KYC and KYB Identity Verification
Camunda, the enterprise platform for agentic orchestration, today announced that AU10TIX, a global leader in identity verification and fraud prevention, is using Camunda to support Know Your Customer (KYC) and Know Your Business (KYB) workflows at scale - powering secure, high-volume identity verification worldwide. Camunda allows for the management of complex identity processes without embedding decision logic deep inside application code.
NatWest Complete Remortgage in Two Working Days via PEXA’s Digital Infrastructure
The first NatWest remortgage transaction to complete on the PEXA platform did so within two working days
Kiwe Receives Final CBE Approval ,the New Wave of Fintech Has Arrived
Kiwe has received final approval from the Central Bank of Egypt (CBE) to launch its application marking the arrival of a new wave of fintech
Brightbeam on Cutting Through the AI Fog
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
TSAM London: Clearwater Analytics on The Real Buy-Side Challenge
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Rightway Parking Highlights MSP’s Edge for On-Time Travel
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
NatWest Complete Remortgage in Two Working Days via PEXA’s Digital Infrastructure
The first NatWest remortgage transaction to complete on the PEXA platform did so within two working days
Banking Circle Introduces Stablecoin Settlement Services Following CASP License Approval
Banking Circle today announced the launch of its stablecoin settlement services, marking a significant step in the convergence of traditional banking and digital assets
Allianz UK and LV= Announce New Long-Term Partnership
Allianz UK and LV= have announced a new multi-year partnership to continue distribution of home, car and pet insurance under the LV= brand.
Vitesse Strengthens U.S. Commercial Team with Appointment of Shareen Minor as Chief Revenue Officer, North America
Vitesse announced the appointment of Shareen Minor as chief revenue officer, North America