Are you still relying on manual processes to ensure your bank is complying with BSA regulations?
Compliance with the Bank Secrecy Act (BSA) is a top-of-mind concern for banks nationwide. Banks must educate their employees, understand their customers and their businesses, and implement systems and procedures that can distinguish routine transactions from ones that rise to the level of suspicious activity. If you’re still relying on manual procedures to ensure BSA compliance, consider automating the entire process with our proven Yellow Hammer™ BSA solution.
Yellow Hammer BSA – Web-based BSA compliance and risk mitigation solution
Yellow Hammer BSA fully automates and centralizes compliance with the Bank Secrecy Act (BSA). This browser-based data monitoring, recordkeeping, and reporting solution eliminates the time-consuming and error-prone manual compliance process and mitigates the risks associated with BSA compliance. Batch or real-time customer and transaction data can be imported from Jack Henry Banking’s core processing platforms, wire transfer and teller systems, and brokerage/trust databases and stored in a centralized database for ongoing access and analysis. Yellow Hammer BSA automates the customer due diligence required during the account opening process, assigns risk ratings based on responses to specific questions, and supports the accurate evaluation of risk based on proven metrics. The capabilities to profile existing customers, perform peer group analyses, maintain research analyst notes and actions, and generate management, board, and auditor reports are also provided.
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