Whether you know a little or a lot about BSA/AML software automation, there are a few key elements to consider. First of all, what are the system’s capabilities? Second, what are some indicators of software that gets the job done?
Many Compliance Officers and examiners agree that automation makes your BSA program more efficient. But it’s important to know what you’re looking for. Below are a few features that elevate BAM+ above the rank and file of the BSA/AML software industry.
BSA/AML Automation – 5 Things BAM+ Does Better
Foundationally, every BSA systems efficacy is based on the validity of its data. With flawed or incomplete data, no system will be truly accurate. Every BSA program should have a mechanism to validate its data on a re-occurring basis. BAM+ validates data on multiples levels with audit logs and comprehensive data reporting functionality.