With the combination of ever increasing requirements to comply with federal regulations, and the criminals constantly evolving, it becomes difficult and overbearing for financial institutions to efficiently and effectively investigate and track BSA AML related issues, including money laundering red flags. There are strict timelines that must be met for investigations and regulatory reporting, such as suspicious activity reports (SARs) and currency transaction reports (CTRs).
A solution is needed to build, maintain, and track customer due diligence, generate alerts for high risk customers and transactions, potential money laundering, and customers whom are on a watchlist.
BSA AML Solution
- Aithent provides a high tech solution with the following features & benefits:
- Alerts & Analytics: Leverage predictive and behavioral rules to identify high risk customers and suspicious activity
- Ad-hoc reporting: build and design reports specifically suited for your institutional needs
- Regulatory Reporting & E-filing: SAR Reporting and CTR Reporting
- Comprehensive Case Management: build and manage customer risk profiles and fully investigate all suspicious activity
- Alert Manager: Assign, decision, and track alerts all from one screen
Aithent’s BSA AML solution is robust and scalable with all of the functionality desired by financial crime units at financial institutions of all sizes. Whether you have a team of one or a team of one hundred, Aithent has a tailored solution to work for you.
With Aithent you will receive excellent support throughout the lifetime of our solutions, quick deployment, industry experts to guide you through set up with best practices and workflows.
Banks and credit unions are faced with the constant threat of fraud, a threat that knows no boundary and is prevalent across all channels and payment types. To help fight fraud, Aithent has developed a solution that is case-centric, enterprise ready and allows for the easy ingestion of alerts generated by Aithent analytics-based solutions and third party systems. Aithent provides tools to analyze data easily, build informative reports, and manage teams of analysts and investigators while maintaining a robust audit trail of all actions being taken. The solution empowers users throughout the life cycle of the investigation using workflows and helps identify new patterns that can be used to reduce the risk of known fraud from recurring. With modules to support restitution, Aithent’s solution is designed to support all functions critical to loss prevention.
Click here to learn more about Aithent’s Fraud Management solutions.
Maintaining an easy to use unauthorized transaction or dispute claim system for your customers is important. It needs to be easy to use to maintain good customer support. With the strict timelines required through regulation E, financial institutions need a dispute solution that will allow for them to quickly and efficiently manage their dispute process.
Click here to learn more about Aithent’s dispute solutions.
Enterprise Case Management
The ever growing products and channels for customer access to their accounts appears to be satisfying your customers’, but it is also attracting the attention of criminals and fraud rings who are trying to hurt your customers and steal your money. Criminals look to exploit any and all vulnerabilities at your financial institution; across product lines and geographic regions. Regardless of institutional size, a solution that covers both fraud and BSA AML is needed, that allows for the sharing of information as needed, while keeping cases and sensitive information separate.
Click here to learn more about Aithent’s enterprise financial crimes management solution.