Money Laundering Detection

BAM+ helps financial institutions streamline their BSA/AML compliance programs, making life easier and more efficient. Because you’ll spend less time researching and compiling reports, your staff can better focus on the truly suspicious activity. That means better chances of detecting anti-money laundering, human trafficking and other possible financial crimes. Our scenarios combine multiple forms of financial crime detection logic, so you’ll have confidence in your solutions. 

Also, because you define the “normal” ranges of transactional activity within your customer base you can easily filter out false positives, saving you time. Additionally, BAM+ gives you the ability to add notes and attach files so that your investigation trail is documented for the examiners to review. Documentation is critical, so BAM+ makes it as easy as possible for you and your staff. 

The BAM+ detection engine is a learning system that becomes more intelligent over time.


Data Validation 

BAM+ anti-money laundering software gives financial institutions confidence in their transaction data by performing an advanced data validation. The system performs data validation as well as provides import audit reports. This allows you to quickly confirm that your transaction and customer data is feeding correctly into the system. Additionally, our Branch Entry feature offers an alternative way to gather transactional information at the front line for inclusion in the BSA/AML solutions.


Automated Risk Rating 

Our BSA and anti-money laundering software allows financial institutions to methodically risk-rate every account simultaneously based on multiple elements. This is done with initial risk scoring as well as on-going risk scoring.

Our risk-scoring model follows FFIEC guidance and incorporates product, location, customer type, business type, transactional volumes, quality of relationship and previous suspicious activity. It also incorporates other user-defined risk factors.  All of these factors are fed into a robust risk-scoring model to produce a comprehensive risk score.

With the risk rating model contained in our BSA/AML software solution, you have you have the flexibility to determine and define the number of risk points assigned to various risk factors applied to each account. This gives you complete control in defining and setting your risk tolerance as well as the ability to adapt to new and emerging risks.


SAR Preparation & E-Filing

With our BSA/AML solution you can either gather suspicious activity through related scenario-produced alerts or enter the data directly into the application through ad-hoc reporting. Whichever option you choose, the relevant information will be auto-populated, saving you time and effort.

At every turn in the process, BAM+ allows you to document your investigation and decision-making process. Electronic comments can be left documenting actions that clarify to regulators when and why certain decisions were made.

BAM+ is an end-to-end application that takes each incident from the initial investigation, through SAR preparation, approval, filing, acknowledgement, and the renewal process. With multiple permission options, you can tailor employee roles to best fit your compliance needs, ensuring quality control and confidentiality.


CTR Automation

Our CTR automation solution gives financial institutions an automated process to aggregate data and auto populate potential Currency Transaction Reports to be filed with FinCEN. In addition, you have the ability to create and maintain special “CTR Relationships” within the program to link people and entities for aggregation purposes who are associated with one another but do not share an account. We streamline the completion of CTRs by prefilling beneficiary and conductor information supplied through the transaction feeds, as well as from prior CTR fillings.

Our branch solution offers customer-facing staff the ability to record supplemental information that may be unavailable through traditional host/teller system feeds. This information is merged nightly with transactional data to assist with aggregation and auto population of the CTR form itself.


Case Management

BAM+ was designed with the user in mind. That means the work-flows are easy to use and streamlined to be efficient and understandable. It also means decision making transparency is built into the system so that you have full oversight over every aspect of the process. BAM+ provides customized reporting based on your needs, including reports for Auditors & Examiners, making sure you always have the answers when you need it most.


Due Diligence Manager

Due Diligence Manager is your fast-track solution to complying with the new CDD rule of beneficial ownership. With it you can collect, document and store the information needed for beneficial ownership, including both the ownership and control prongs. Over time, Due Diligence Manager allows you to compare expected vs. actual transaction activity. It also allows you to manage relationships on the individual or business/entity level. One major advantage of Due Diligence Manager is that you can still maintain your current account opening programs/procedures while being 100% compliant with FinCEN’s new CDD rule.


Negative News

Negative News allows financial institutions to research recent and historical negative news and provides risk-relevant data for individual and corporate accounts making your compliance process easy, accurate and cost-efficient.

Negative News continuously searches national and international news sources, including watch lists, for risky behavior and financial crime keywords such as embezzlement, fraud, bribery, convicted, money laundering, etc. and provides them to you in an aggregate format.

Not at Risk for FCRA – Because Negative News pulls data from public national and international news sources, it is not at risk for FCRA.

Negative News helps with a variety of critical functions such as:

  • Enhances Your KYC Program
  • Provides Risk Rating Support
  • Assists with Due Diligence
  • Supports SARS Completion

OFAC Sanctions Screening

Our WatchList Manager (WLM) solution uses a combination of advanced screening technologies that work together to identify name matches and variations of names on the scanned watch lists.  It has user-defined sensitivity settings that are configurable by scan or type of scan, which helps balance false positives.  Our solution also features a web module that allows you to scan from New Accounts, Teller Line, or anywhere else within your institution.

WLM scans your customers and transactions for possible hits against The Official Special Designated Nationals and Blocked Persons List (SDN), the Official Palestinian Legislative Council List (PLC), the Sanctioned Country List and Section 311 List, and The CIA Chiefs and State and Cabinet Members of Foreign Governments List (PEP).

WLM is an affordable solution to the ever-increasing prices of other OFAC scanning engines and also integrates seamlessly with our industry leading wire automation software, WirePro.


Branch Reporting

Our Questionable Activity Report (QAR) integrates with BAM+ as a “pre-alert” to provide a quick and efficient method of communication between a branch office or department and your central compliance/fraud department. This allows initiation and follow-up on the reporting of suspicious activity. QARs can be created for both customers and non-customers.

QAR provides direct communication between customer facing users and BSA compliance area without interrupting the daily workflow. QAR automatically keeps an audit trail of the conversation flow between reporters and reviewers. It allows office staff to confidentially report on any suspicious activity they identify from both internal and external sources, and the reviewer can request additional information from the creator. Once reviewed, QARs can be escalated to the Case Management Platform for further review and reporting as warranted. Additionally, QARs can be escalated to Alerts if warranted.


Flexible Deployment Options

Not all institutions are the same. Each has different needs and different preferences from a technical deployment standpoint. (blog) With BAM+ you have flexible deployment options that will meet your needs today and scale with you as you grow.
Whether your organization has the technical resources internally to manage your servers, or you want to outsource the ongoing hosting and maintenance, we’ve got you covered. Banker’s Toolbox offers both on-premise and hosted service options.

Whether your institution requires one approval or multiple approvals, our automated wire processing allows you to customize your branch origination process to match your policy. User authorities can be tailored at the branch level based on user role and dollar amount.

  • On-Premise: Designed for institutions who prefer to own, implement and administer their own software, applications and data for maximum control.
  • Hosted Services: Designed for institutions who prefer to outsource the maintenance of their software application to minimize dependence on internal IT staff and increase organizational productivity