Avoiding AML Penalties – Tips from a Former Regulator

Avoiding AML Penalties – Tips from a Former Regulator

Having a strong culture of compliance is key to avoiding AML penalties. Regulators take risk seriously and it's important to know just how much risk your institution can take on while remaining compliant. Big risk doesn't always mean big reward when it comes to some institutions. A couple of years ago, a small credit union in Miami Gardens, FL shut its doors as a result of a $300,000 civil money penalty assessed for their anti-money laundering (AML) failures.

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What is Agile and Why Does it Matter?

What is Agile and Why Does it Matter?

Though you’ve probably heard the word “agile” before referring to the ability to move quickly, you may not have heard it in this context. To software developers, the word “agile” corresponds with a better way to, well, develop. So what is agile, and why does it matter in banking?

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Manual vs. Automated: A Regulator’s Perspective

Manual vs. Automated: A Regulator’s Perspective

BSA Officers know that some exams will always go more smoothly than others. Perhaps you never know what you’re going to get, but one thing is for certain - examiners will not hesitate to tell you their opinions. Whether or not to automate your BSA/AML program is no exception to this rule.

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BUG 2017 Recap – Thank You!

BUG 2017 Recap – Thank You!

Last week, Banker's Toolbox hosted 200+ clients from all over the country for our 13th Annual Banker's Toolbox User Group Conference (BUG). It was 2.5 days packed with industry hot topics, product training, roundtable meetings, panel discussions, networking, celebrating and more. Here's how it went!

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A Family Gathering

A Family Gathering

Here at Banker’s Toolbox, as we are taking inventory of all the things that make our company special, one powerful attribute rises to the top of the list, and it cannot be seen by looking internally. I refer to our “Family of Customers."

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Meet Our “SARs” – Support, Account Managers, Relationship Managers

Meet Our “SARs” – Support, Account Managers, Relationship Managers

Meet the SARs of Banker's Toolbox. No, they're not the kind of SARs you're used to filing with FinCEN. Today, we're defining SARs as the Support, Account Manager and Relationship Manager roles within the Banker's Toolbox team. Because we are dedicated to our customers' success (not just software), we've organized our teams to provide our partners with the best experience possible. Here's a look into the SARs of Banker's Toolbox!

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Banker’s Toolbox New Headquarters | Home of the Penguins

Banker’s Toolbox New Headquarters | Home of the Penguins

One of Banker’s Toolbox’s core values is happiness for employees. Creating an environment where this can be achieved is something we prioritize and we spend the time on making sure we get it right. This week we get to practice this by celebrating in a new office space!

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