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CUAnswers offers data processing updates

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GRAND RAPIDS, Mich. (11/7/12)--CU*Answers, a Grand Rapids, Mich.-based credit union service organization, recently announced two updates to its data processing platforms.

The company has released new concentration risk functionality to its CU*BASE GOLD core data processing platform.

The analytics tool meets the majority of the recommendations recently issued in a bulletin on Supervisory Guidance published by the Office of the Comptroller of the Currency (OCC).

In the past two years Audit Link, the compliance division of CU*Answers Management Services, has completed concentration risk analysis for credit unions nationwide. The analysis included a review of named borrower concentrations and portfolio segments using a proprietary model that included built in stress testing. Based upon what was learned from the studies, CU*Answers developed an analytical tool set native to its CU*BASE core platform. 

In another release, CU*Answers' flagship data processing software, CU*BASE, will include Enterprise Risk Management Tools at no additional cost to credit unions. The Nov. 11 release of CU*BASE 12.2 will introduce seven new menus focusing on enterprise risk management including credit risk management, interest rate management, liquidity-risk management, concentration-risk management, transaction-risk management and compliance-risk management tools.