Core Document Images

Are Your Documents Being Held Hostage?

by Jennifer Mitchell • August 20, 2018

Maintaining control over your documents may not seem like the plot from a Hollywood thriller. That being said, banks often find themselves facing what feels like a hostage situation. On one hand, you’ve invested far too much effort into your core imaging module to simply walk away. On the other hand, you can’t keep tolerating […]

commerical loan tracking upront_ vs ongoing

Commercial Loan Tracking: Initial vs. Ongoing

by Jennifer Mitchell • August 9, 2018

Whether you’re a bank or a credit union, it’s important to have solid tracking procedures in place for commercial loans. Unfortunately, the most well-thought-out tracking procedures can fail without the proper supporting infrastructure. Surprisingly, even some of the largest community institutions still rely on manual tracking processes, such as ticklers, spreadsheets, and checklists. In this […]

Currency Transaction Report

Managing Currency Transaction Reports

by Jennifer Mitchell • July 19, 2018

Mr. Wallace stopped by your Main Street branch this morning – just as he does every Friday morning. However, unlike most of Mr. Wallace’s visits, he brought a very large check with him. The total amount was $12,400, and Mr. Wallace asked for all of it in $100 bills. Being the overly friendly person that […]

Restricting Access to Employee Account Info at Banks

Restricting Access to Employee Account Info at Banks

by Jennifer Mitchell • June 22, 2018

Your employees are some of your financial institution’s biggest advocates. They’re not shy to tell family members, friends, and virtually anyone else about your institution’s great products and services. It’s no surprise why your employees are so passionate. After all, most of them do all of their banking with your financial institution. Checking accounts, health […]

Suspicious Activity Report Management

Suspicious Activity Report Management

by Jennifer Mitchell • June 15, 2018

“Frankly, I’m worried that the customer is doing something illegal.” As you hear your bank’s most seasoned teller utter these words, you know that you’re dealing with a very sensitive situation. On the one hand, you’re well aware of the Bank Secrecy Act and its anti-money laundering requirements. Your financial institution must take such allegations […]

Beneficial Ownership Certifications

Managing the Beneficial Ownership Certifications

by Jennifer Mitchell • June 8, 2018

May 11th marked the compliance date for FinCEN’s final rule on CDD (customer due diligence). The rule places additional requirements on certain financial institutions in the United States, including banks and credit unions. Among other obligations, financial institutions must now obtain, verify, and record information about the beneficial owners of the legal entities they serve. […]

Related Entities

Tracking Customers & Their Related Entities

by Jennifer Mitchell • May 22, 2018

Everyone knows that Lloyd is one of the most well-connected people in the area. After all, it was Lloyd who founded your town’s first business incubation center more than a decade ago. Since then, he’s started several successful companies of his own, served on a few boards of directors, and even finds time to volunteer […]

Managing Dormant Accounts: Reducing Risk via Integration

by Jennifer Mitchell • May 18, 2018

Dormant accounts pose a serious risk for financial institutions of all asset sizes. Although some of the responsibility for maintaining account security should fall on your customers’ shoulders, your institution is by no means off the hook. To prevent dormant accounts from falling into the wrong hands, most banks and credit unions have internal policies […]

CIP Document Management

Customer Identification Program (CIP) Recordkeeping

by Jennifer Mitchell • May 9, 2018

“A bank’s CIP must include recordkeeping procedures.” ~Bank Secrecy Act Anti-Money Laundering Exam Manual Federal Financial Institutions Examination Council Since the passage of the USA PATRIOT Act, all banks have been required to keep a written CIP. As I’m sure you know, the point of the CIP (Customer Identification Program) is to ensure that banks […]

Core Imaging Systems

Our Core System “Does Imaging”

by Jennifer Mitchell • May 3, 2018

I occasionally hear banks or credit unions make the following statement: “We don’t need AccuAccount. Our core system does imaging.” Does this statement hit home for you? Perhaps your financial institution utilizes a core system that offers basic document imaging features. You’ve already made a huge investment in your core, so why integrate with a […]

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