WatchList Manager (WLM) uses a combination of advanced screening technologies that work together to identify exact name matches and variations of names on the scanned watch lists. WLM features user-defined sensitivity settings that are configurable by scan or type of scan, which helps balance false positives. WLM 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 transaction 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. WatchList Manager integrates seamlessly with our money laundering detection software, BAM, and our wire automation software, WirePro.
Our WirePro Branch module allows for remote entry, lookup and user management at a branch or remote department through your institution’s secure intranet. WirePro Branch users also have the ability to conduct customer searches to open outgoing wire templates by account number, customer ID or name. Wire transfer automation allows your branch employees to begin the process of sending a wire at the point of sale with the click of a button resulting in fewer mistakes.
WirePro Branch also gives you the ability to generate a wire application for a customer signature and create customer templates with pre-filled information that can be used for repeat wires. Each branch has the ability to generate reports, fully equipping them with all the tools they need.
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.
WirePro Notification automates customer notification for wire activities via e-mail and text messaging. You can instantly notify your customers that their incoming or outgoing wire activity has been successfully processed. You also have the ability to send multiple messages to customers via e-mail and text message. The service works on an intraday basis, so your customers constantly stay in the loop.
By providing this exceptional service and consistently exceeding expectations you’ll will build a trusted customer base. Your institution can enable branches to manage their own customers and eliminate the cost and time associated with manually faxing wire notifications.
With fraud on the rise, it is imperative to stop potentially fraudulent wires before they put your institution at risk. WireFraud Manager, built within WirePro, automatically halts potentially fraudulent transactions if they are identified as suspicious. Our secure wire transfer software can detect abnormal wires then flag them for further investigation. WireFraud Manager can screen wires originating from online banking as well, where the risk of malware and hacker attacks increases every day.
How does it work? WireFraud Manager utilizes a multi-dimensional approach, filtering out suspicious wires based on both transactional and behavioral criteria. This approach gives you the maximum amount of fraud prevention, so you can feel confident that you’re covered. Rules can be set at account, group and global levels or by destination account.
There are various scenarios that can be customized to your customer base, which reduces the amount of false positives. A wire can be deemed fraudulent if it matches one of our preexisting criteria. Once blocked, it is held so the user can research the wire before deciding to deny or allow. The program can also be customized to prevent normal expected customer wires from landing in the blocked wire queue and thereby reduce false positives.