Compliance

Bank Document Retention

Retention: Not All Document Management Systems are Created Equal

by Cathy Cirullo • October 15, 2018

Not all document management systems are created equal – especially when it comes to ensuring compliance with your retention policy. In this post, we’ll explore several common approaches to bank document management (and why most of them fall short). We’ll also discuss why our purge feature in AccuAccount is transforming how financial institutions maintain compliance. […]


Bank Retention Schedule

Automating Compliance for Your Bank Retention Schedule

by Cathy Cirullo • September 28, 2018

“Steve, it’s that time of the month again. We need you to go down into storage, find the records set for destruction, and shred them.” As you descend into the crypt-like catacombs of the downtown branch, you can’t help but feel discouraged. “Is this really the best use of my time?,” you think to yourself. […]


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 […]


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. […]


Tax Return Management

Tax Returns: Open the Flood Gates

by Jennifer Mitchell • April 9, 2018

April 15th is an all-too-familiar date for the business owners that your bank serves. For sole proprietors, C corporations, and individuals throughout the United States, April 15th (or April 17th as the calendar falls this year) represents the ultimate “hard deadline.” Unless an extension is filed, taxpayers must submit their returns by this date. As […]


CRA File Documentation

CRA Public File Management: Why Electronic is Better

by Jennifer Mitchell • March 23, 2018

“I’d like to take a look at your public CRA file.” You never know who will ask for a copy of your CRA (Community Reinvestment Act) public file. And, by law, depository institutions like yours are required to maintain copies of such records and, upon request, allow customers to inspect the files. If a customer […]


Bank Disclosure Compliance

Disclosure Compliance: Automate Your Bank’s Tracking

by Jennifer Mitchell • December 21, 2017

It’s Friday afternoon, and you stop by your desk to check voicemail one last time. Today is going to be a fun day. Each year, your institution hosts a community picnic. Everyone that’s anyone from town is going to be there – even the mayor might stop by to shake hands and kiss a few […]


[Webinar] AccuSystems & AFR Services Team Up

by Jennifer Mitchell • April 12, 2017

AccuSystems is pleased to team up with AFR Services, a leading flood zone determination technology provider. The two companies are co-hosting a free webinar on Tuesday, April 18th at 2 pm Eastern, titled “How to Automate Flood Zone Compliance.” In the webinar, we’ll discuss: Streamlining the flood zone determination process How to reduce missing documents Creating […]


[Webinar Preview] Audit Preparation in AccuAccount

by Jennifer Mitchell • March 29, 2017

Preparing for an audit is a major pain point for most financial institutions. In fact, when we surveyed 187 community banks, more than 91% of the institutions stated that preparing for an external audit or exam would take a minimum of five hours. A document management system that offers electronic audit/exam preparation can save your […]


Audit Prep: Why a Paperless Approach Makes Sense

by Alan Wooldridge • March 21, 2017

Disclaimer: The following post was originally published on the Commercial Finance Association blog. (Re-posted with permission.) How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results were astounding. According to our research, 91% of banks surveyed require more than five hours of prep time per […]


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