Due to sharp increases in regulatory enforcement today, including cease-and-desist orders and record fines, it is now a top priority for your financial organization to comply with regulations like the Bank Secrecy Act (BSA) and USA PATRIOT Act.Without a comprehensive BSA/AML program, you face the risk of:
In addition, the increasing sophistication of money launderers and government regulators demands a more comprehensive response to avoid exposure. If your anti-money laundering program still follows manual processes, you face the risk of rendering it inefficient, inaccurate and, ultimately, ineffective. It is, therefore, necessary for you to plan for a BSA/AML strategy to protect your institution.
To confidently and proactively address the challenge, institutions now require a more holistic risk-based approach to their BSA/AML compliance program commensurate with regulators’ expectations. Further, the program must focus in equal parts on the core areas of KYC/CIP, AML and regulatory reporting within an integrated financial crime control system. But how do institutions confront this daunting objective with the reality of an out-of-date program and aging point solutions?
The OneSumX Financial Crime Control suite is unique in its ability to provide industry-leading BSA/AML solutions that are configured to the individual needs of institutions whether based in the Americas or Asia-Pacific. Our solutions take a holistic and innovative approach by combining state-of-the-art technology with exceptional regulatory knowledge and consulting expertise.
Developed to provide you with comprehensive real-time monitoring of your organization and its risks, the OneSumX for AML solution presents only real threats as they arise and provides you with the ability to address those risks in the most efficient manner.OneSumX FCC automates each facet of your BSA/AML compliance program, including:
It successfully eliminates time consuming, inefficient manual processes, increases the effectiveness of your program and staff, and significantly decreases your overall BSA/AML compliance risk.
Our AML solution delivers the combined power of profiling and transactional analysis to your BSA/AML compliance program. Its enhanced suspicious activity detection technology is designed to mesh seamlessly with the platform's. The program's included case management and automated SAR creation and filing tools also help you to efficiently and effectively fight money laundering in your institution.