Frequently Asked Questions
DATATRAC FACT:
In an independent third party survey of over 2,000 financial institutions, Datatrac was ranked #1 in overall service.



How does Datatrac obtain interest rates information?
Thousands of financial institutions fax, email and enter rates, fees and specials into our system daily. Specially trained and assigned market research teams verify this data and contact any institutions who require updating or clarification. Copious notes, numerous quality controls and systematic procedures are in place to support our 100% Accuracy Guarantee.
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What is Datatrac's 100% Accuracy Guarantee?
It’s right or it’s FREE. It’s that simple. Click here to learn more.
How does Datatrac help simplify and systematize our pricing?
We give you a standardized, market driven benchmark to compare against. Datatrac's consistency will allow you to base decisions on data and market conditions rather than instinct or emotion. Having a benchmark will help you set and explain your strategies with fellow pricing committee members, examiners and frontline staff. Datatrac also establishes a baseline to compare your performance against over time.
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How often are rates updated?
Constantly. Our data is being updated all day long every business day. You know about changes just as soon as we verify them. Rates are updated in real-time on RateDexPro for instant access by you. Changes in your local rates are summarized each night and distributed to you in a daily RateAlert. If for some reason an institution has not updated its rates, we call them to make sure you have the most current data in your report.
What institutions do you track?
Datatrac monitors 20,000 financial institutions. Chances are we already monitor your competition in your market. If an institution you want tracked is not in our system, we'll be happy to work with the institution to add them to our database.
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What products do you track?
Datatrac monitors the most highly requested products in all areas of retail and commercial banking. If a product you want tracked is not on this list, we'll be happy to add it to our database.
What fees do you track?
Datatrac standard products include over 70 different fee products. If there are fees or product features you want monitored that are not on the list, no problem. Just talk with one of our Research Consultants at 800-257-7101 extension 4 and we'd be happy to quote it for you.
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Do you track specials, promotional offers and relationship pricing?
Yes. Current specials, effective dates, relationship pricing and unique marketing features all are included in your reports. In addition, for variable-rate loans, such as home equity, details on rate indexes and spreads used by your competitors are provided.
What if a product or institution I want monitored is not currently in your system?
We'll add them! If it's not in our system, we'll add them to our database.
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When and how can I access my data and reports?
Our database is updated in real-time and available to you 24/7/365 via RateDexPro. Your meeting ready reports such as RateIntelligence Reports are prepared on the day of the week and the frequency (e.g., weekly, biweekly or monthly) you choose.
What report formats are available?
Datatrac has six standard formats and three file types (PDF, Excel spreadsheet, ASCII data file), however, your data can be customized in any format you specify.
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What is the difference between RateDexPro, Rate Intelligence Reports, RateAlerts and Specialty Reports?
  • RateDexPro is an interactive database that allows you to query, sort, graph and export data on any institution in any market.
  • Rate Intelligence Reports are customized rateshops of competitors and products you specify. These reports are designed to be meeting ready to give you the competitive information you need at a glance for your pricing decisions.
  • RateAlerts are daily emails alerting you to rate changes and new specials in your local market for your area of interest, including retail deposits, mortgages, consumer loans, credit cards and jumbo deposits.
  • Specialty Reports are custom research reports designed to your specification.
Please click here for a detailed description of all Datatrac products.
How many institutions can I include in my reports?
You can monitor any number of institutions anywhere. RateDexPro gives you access to search our database of over 20,000 institutions nationwide. Our meeting-ready RateIntelligence Reports include any competitors you require.
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Which products and institutions should I monitor?
Typically, you know your competitors and what product you want to monitor in your report. However, If you need assistance selecting products or institutions in a market, Datatrac can query its extensive database to inform you of whom your competitors are monitoring most often.
Can Datatrac assist with specialized research such as seasonal or one-time questions?
Absolutely! Datatrac's research teams are specially trained to help you solve your research question with our specialty reports.

Examples include:
  • "It's IRA season, what are my competitor's rates?"
  • "What are our competitors charging for SBA backed business loans?"
  • "What is the average earnings credit and monthly business checking fee in our market?"
  • "How are money market rates tiered in my market?"
  • "How do my competitors segment their checking products?"
  • "We're starting an indirect lending department. What are competitors charging?"
If you have a specific question, let us know. Datatrac has a "can do" philosophy to continually meet your changing needs. Please contact a Datatrac Research Consultant at 800-257-7101 extension 4 for a customized proposal.
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Why should I outsource my research?
Three very good reasons:

1) Experience: You get Datatrac's 20 years of experience in the research business.
2) Accountability: It's right or it's free. That's our 100% Accuracy Guarantee.. You won't get that level of assurance with research conducted by in house staff.
3) Price: Since we collect data for thousands of institutions, the cost is being shared among our customers. If you do your own research in house, you bear the entire cost.
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Why should I choose Datatrac?
Datatrac is a proven industry resource serving over 10,000 financial executives and trusted provider to the industry's top trade associations and governing organizations. Our data is backed by a 100% Accuracy Guarantee.: It's right or it's free, and our price is less than you could do it for in house. Why wouldn’t you choose Datatrac?
How do I learn more?
To order or learn more, click here or call a Datatrac Research Consultant at 800-257-7101 extension 4.