Penguin Foes
This solution offers an enterprise all-in-one solution, that doesn't allow you to customize the package.
What is Verafin?
This is dependent on a company's product offerings, transaction type, zip code, type of business, etc. which helps you prioritize what alerts to work.
What is Risk Rating/Risk Points?
BAM+ streamlines these filings by auto-populating beneficiary and conductor information from your transaction feeds, and prior filings. Cutting down on work for your staff.
What is CTR Automation?
Decision-making transparency is built right into the system, giving you full oversight into every step of the process, and easy access to reports for auditors and examiners. We provide a 3 step process: Alert>Case>SAR
What is Case Management?
I'm retiring soon.
This would be the perfect time to help an FI with strategy not to lose momentum. Who will be over-seeing the transition?
This solution has been known to be too complex, with too many scenarios, and they'll make you pay extra fees for training, as well as support.
What is Patriot Officer?
This tool helps institutions send pre-alerts where things may look shady. Generally used at account opening.
What is Questionable Activity Report (QAR+)
With scanning transfers in real time. This enables you to satisfy customer requests through links to the leading cash management systems, while automating the entire back office workflow process.
What is WirePro?
Ensures your transaction and customer information is feeding into the system correctly, allowing you to better detect suspicious activity.
What is Data Validation?
We are a small bank, that doesn't see a lot of fraud.
The advancement in technology have made this more cost effective for institutions, and is seen more as a time saver than anything.
This solution doesn't pull transactions into alerts, doesn't have a way to identify MSBs, ATMs, and 314 is a manual process.
What is Yellow Hammer?
Scenario: Your customer, Bob's convenience store must pay the ATM provider a monthly service fee, within BAM+, we can catch that transaction in our keyword library of ATM providers, and easily alert you to that activity. This is how Abrigo manages what?
What is MSBs & Private ATMs
Documents your investigation and decision making process every step of the way to create a strong path to results for regulators. Currently offer batch-filing, with direct file to FinCen coming soon...
What is SAR Prep & E-Filing?
Grouping accounts with similar activity to help reduce false/positives. These groups are referred to as?
What are User Defined Groups?
We've looked at you in the past.
What did you like? What was a concern? Our product roadmap is constant evolving with 30% of our revenue going into R&D. Would you like to see whats changed since you looked last?
This solution has limited reporting capabilities, hard coded parameters, and charges extra fees for risk rating capabilities.
What is FCRM?
This satisfies the requirements for a financial institution to assess the level of risk at account opening. It helps create a profile for all new accounts by asking questions to help define expectations for future behavior.
What is Due Diligence Manager?
Scanning against OFAC. Users upload lists to the system, select the desired list they'd like to scan against, and the solution does this automatically.
What is IQ AutoScan?
We can help create those tedious reports with just a few clicks of a button, while maintaining extreme accuracy for this project. (What project?)
What is exam prep?
Examiners are happy with what we are doing.
Even when you pass the exam, there are always some recommendations on how to improve or keep up momentum. What are you working on in that sense?
This solution doesn't address CDD, and the system is not tunable.
What is FIS?
This scenarios cover account funneling, human trafficking, and tax havens. This also includes incoming wires from migrant countries going to U.S. border counties.
What is Red Flag Scenarios?
Continuous scoring for existing accounts based on product type, transaction type, industry type, zip codes, etc.
What is Automated Risk Rating?
This uses our advanced screening technologies to identify name matches when compared to the OFAC lists. Hint: (OFAC is in the answer)
What is OFAC Sanctions Screening?
We are in contact for X years.
What does that software cover? What opportunities still exist in BSA/Fraud/Consulting that isn't covered? If it's all covered, how is that working for you?