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Fraud Mitigation

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Yellow Hammer BSA™


BSA compliance and risk mitigation

Yellow Hammer BSA fully automates and centralizes compliance with the Bank Secrecy Act (BSA). The system provides data monitoring, recordkeeping, and reporting to eliminate the time-consuming and error-prone manual compliance process and mitigates the risks associated with BSA compliance. Batch transaction data and near-real-time customer 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.

This solution is available to banks automated by the SilverLake System®, CIF 20/20®, and Core Director platforms.

What It Does

  • Automates the enterprise-wide monitoring and reporting of suspicious financial activities for BSA compliance.
  • Allows batch and near-real-time data to be electronically imported and analyzed from Jack Henry Banking’s core processing platforms, wire transfer and teller systems, and third-party brokerage/trust databases.
  • Stores all customer information and transaction records in a central database that is accessible to multiple assigned employees and the compliance department.
  • Gathers customer due diligence and expected account volume information during the account opening process.
  • Allows banks to define questions and assign risk ratings based on responses to questions asked during the account opening process.
  • Enables profiling of existing customers.
  • Performs peer group analyses, which can help eliminate the complicated manual monitoring and linking of independent accounts to a group.
  • Allows for actions and notes of research analysts to be made and stored for easy reference.
  • Displays a dashboard as accounts are reviewed that shows all the analyses for the overriding officer to approve before forwarding to the BSA analyst.
  • Stores analysts’ work to produce manager, board, and auditor reports for any defined time period.
  • Imports suspicious activities to the case management module for extended tracking and follow-up.
  • Allows cases to be annotated with notes as well as any type of attached document or image file.

What It Does For You

  • Saves banks valuable time and resources.
  • Reduces compliance risks.
  • Allows for easy and accurate recordkeeping and data storage requirements for BSA compliance.
  • Provides a complete audit trail.
  • Simplifies bank operations while minimizing staff, training, and on-site technical support requirements.
     
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  • Product Briefs
    Yellow Hammer BSA Product Brief

    Compliance with the Bank Secrecy Act (BSA) is a top-ofmind 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.
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