Transparency

Some BSA/AML software leaves you in the dark, giving you little insight into why an alert was created. With BAM+, the transparent information and sources provided within each scenario allow you to know why the alert took place. Furthermore, BAM+ gives you insights into patterns and what they could represent. After all, your job still requires a human element. You’ll be the one reviewing the data, making decisions and answering to examiners.

Accuracy

Other systems produce too many alerts, and not all of them are truly suspicious. These bad alerts are known as “false positives.” A busy BSA Officer doesn’t have time for those! With BAM+, you define the ranges of “normal” activity for your customers, which results in fewer false positives. Additionally, our team can perform a data validation, which helps you determine whether all of your data is accurately flowing into the system. Because it is configured to your needs, BAM+ is a learning system that gets more intelligent over time.

Regulatory Reporting

BAM+ makes it quick and easy for you to prepare regulatory reports. You can carry information directly from BAM+ into your report preparation (SARs, CTRs, etc.), which takes the majority of the manual work out of the equation. It pre-populates information from your investigation, making it simple to prepare a report to file with FinCEN. BAM+ also empowers you to generate reports that will impress your examiners or board of directors.

When it comes to suspicious activity monitoring, it is imperative to choose a solution that gets it right. In our experience, a combination of rules-based and behavior-based logic helps you use the right tools for the job. After all, there is no one-size-fits-all answer!