BSA/AML Compliance and Management

Uncover Suspicious Activity & Strengthen Compliance

Manual processes, siloed teams and rules-based legacy systems are exacerbating compliance challenges for many institutions across the financial industry. With mounting pressure from sophisticated financial crimes and changing regulatory requirements, managing daily compliance tasks and uncovering suspicious activity without an efficient and effective BSA/AML solution can result in strained compliance programs, increased operational costs, and exposure to potential money laundering risks.

In this recording of a live demonstration, our Product Experts demonstrate how Verafin strengthens BSA/AML compliance and management with a consolidated financial crime management approach. With targeted analytical agents, automated reporting and compliance functionality, smart evidence and visual investigation tools, Verafin is the industry’s leading Financial Crime Management solution.

Highlights of this software demonstration will include:

  • Risk-rated targeted BSA/AML alerts and scenarios including monitoring for money laundering, structuring, international activity, human trafficking and more.
  • High-Risk Customer Management and end-to-end Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) including our Account Opening Questionnaire, stratified risk models for high-risk customers, ongoing monitoring and automated risk reviews.
  • Alert Threshold Testing and Performance Monitoring that allow you to validate configurations for your institution and assess the results of above- and below-the-line testing.
  • Integrated Case Management to create a case directly from an alert, attach applicable files, link entities and related suspicious activity, and fully document your investigation.
  • Automated Regulatory Reporting of SARs and CTRs, workflow dashboards, customized reporting, risk rating and more.
  • 314(b) Information Sharing to facilitate collaborative investigations with other 314(b)-registered institutions and show you a complete picture of customer activity.

Tagged as...

  •   BSA/AML Compliance