The wire transfer process has always been—and remains—one of the most labor-intensive tasks for financial institutions. WatchDOG Wire from CSI Regulatory Compliance is a software solution that automates the entire wire transfer process.
Automated Wire Transfer Benefits
By automating the bank wire transfer process, WatchDOG Wire improves workflow and comprehensive risk management all in one Web-based compliance solution. This solution includes tools to:
- Format wires to upload to and import from Fedline, Fedline Advantage and other cash management solutions
- Minimize errors by automatically validating ABA routing numbers
- Reduce the collective work effort of your employees by streamlining the wire creation and approval process
- Enable the creation of wire templates for recurring transactions
- Provide quick access to and facilitate the assignment and auditing of all transaction information
- Allow for customized settings of wire approvals based on wire amounts
Wire Transfer Regulatory Compliance Solutions
Not only does WatchDOG Wire put more time back in your day by streamlining the wire transfer process, it improves risk detection and supports OFAC, BSA/AML, Red Flags and other compliance programs:
- OFAC Compliance Software
WatchDOG Wire incorporates real-time OFAC regulations screening for incoming and outgoing wires, providing designated fields to capture the originator and beneficiary, which enables OFAC scanning for sanctioned countries.
- BSA/AML Risk Assessment
WatchDOG Wire’s AML Trending Reports provide a full audit trail feature that archives relevant data on completed transactions, and the user-friendly search capabilities give you quick access to transaction information. It also serves as an effective tool for suspicious activity monitoring so you can automate wire processes and enhance BSA and AML compliance with one easy solution.
Gain more control over your institution’s wire transfers, ensure compliance with OFAC regulations and BSA and AML and communicate more effectively with your customers.Contact CSI today to find out more about WatchDOG Wire compliance software.