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How to Select the Right BSA Compliance Vendor for Your Financial Institution

When purchasing new compliance software, financial institutions should carefully perform due diligence when comparing service providers. Once a decision is made and software implementation is complete, the Federal Financial Institutions Examination Council (FFIEC) recommends periodic ongoing monitoring of the service provider. Use this checklist to review fundamental steps to help your institution through the BSA compliance vendor selection and monitoring process.

Download this checklist to learn:

  • Due diligence steps for selecting a compliance vendor
  • Focus areas to review including financial statements, legal, and regulatory compliance
  • Ongoing monitoring to perform once a vendor is selected

Discover key areas for your BSA compliance training program with our Introductory BSA Guidebook.