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The costs and daily burdens of BSA/AML compliance have become nearly unbearable for many financial institutions. The ongoing management challenge is to maintain state-of-the-art information technology systems as well as retain highly trained staff in-house to run those systems. Data issues, operational issues, escalating regulatory requirements, and staff turnover — all conspire to make compliance costly and difficult to execute consistently.
Has BSA/AML Compliance Become Too Cumbersome or Costly for You?
Introducing BSA Express™
BSA Express™ represents the next generation in the evolution of BSA compliance that combines our proven anti-money laundering management software (BAM™) with outsourced monitoring services by our highly experienced team of banking consultants.
Unlike other BSA compliance outsourcing programs that require the financial institution to upload confidential customer data to an external destination, BSA Express™ provides our industry leading AML software as an in-house* resource to the financial institution — providing added security and ease of integration.
*(or through one of our data center partners.)
Take Control of your BSA/AML Compliance Program
BSA Express™ can be tailored to fit any financial institution and is scalable to address future systems, data sources, or changes in risk profile.
Depending on your needs, your BSA Express™ package can include:
- Comprehensive transaction monitoring: Cash, Wires, ACH, ATM, Debit Card, Monetary Instruments
- Case investigations and SAR report drafting (ready to file)
- Risk assessments and risk rating of customers
- Creation and updating of BSA/AML policies and procedures
- BSA training for your organization
- Board and management reporting
- Special Packages for De Novo Institutions Available Upon Request
Reduce Your Overall Compliance Costs
BSA Express™ empowers your institution with all of the benefits of additional qualified staff, without the fixed costs of salary, benefits, and on-going training. BSA Express™ can reduce your expenses and increase efficiency at an affordable price that scales to your institution’s asset size and risk level.
Overcome the Human Resources Challenge
Experienced BSA professionals are a scarce and expensive resource in many communities across the country. Even the best compliance policies, procedures, and software programs cannot operate themselves. Highly skilled and trained compliance personnel are an integral part of a successful risk-based compliance program. Yet many organizations struggle with staff turnover and retention. BSA Express™ will significantly reduce the human resource challenge for your institution.
BSA Express™ is the Ideal Compliance Solution for:
- De novo financial institutions in a start-up mode
- BSA Officers with too many other responsibilities
- Institutions seeking a viable alternative to FTE increases
- Low risk institutions trying to reduce overall compliance costs and increase stability
Banker’s Toolbox™:
The Proven Name in BSA Compliance
With an established track record for compliance success in the financial world, Banker’s Toolbox™ has former bankers and BSA Officers, industry-leading anti-money laundering technology, quality control, and documented procedures working together to ensure that your institution is in good hands.
Financial Experts
Our team of seasoned financial industry experts has assisted many organizations who were placed under the highest levels of regulatory scrutiny.
CAMS-Certified Professionals
The professionals on our BSA Express™ team are CAMS-certified former BSA officers who are well-versed in banking operations, regulatory compliance and technology.
In-House Production
All of the work we do at Banker’s Toolbox is conducted in-house, including programming, support, and consulting. This allows our team to work closely as a cooperative unit and bring our customers the best solutions and service available. No outsourcing or movement of your data offsite is required.
Add-On Monitoring Services.
Is BAM™ currently your compliance software? If so, we enhance your solution by lightening your compliance monitoring workload with BSA Express™. With our technology already in place, you are a step ahead of the game. Please contact us today about adding monitoring services to your agreement.
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