First National of Nebraska, a US financial holding company, has expanded its implementation of the Actimize-based anti-money laundering (AML) programme. First National has improved its customer monitoring and enhanced due diligence (EDD) processes by using Actimize’s Customer Due Diligence and enterprise risk case management solution to automate and streamline workflow functions across its enterprise-wide AML programme.
The Bank Secrecy Act, the Third EU Money Laundering Directive and other global AML regulations require that financial institutions implement robust customer due diligence programmes. Section 312 of the USA PATRIOT Act requires US financial institutions to perform due diligence, and in some cases enhanced due diligence, with regard to correspondent accounts established or maintained for foreign financial institutions and private banking accounts established or maintained for non-US persons.
The Actimize Customer Due Diligence solution provides risk management, from initial collection of customer data, to risk monitoring and case management. Actimize’s enterprise risk case management solution consolidates information from Actimize and existing detection systems into a single, user-friendly application for alert management, case development, investigations, regulatory reporting (i.e. SAR), oversight and more. Actimize’s enterprise risk case management supports AML operations with comprehensive workflow management, evidence collection and documentation.
“We were looking for an EDD solution that would fit into an existing AML framework comprised of multiple third-party solutions,” said Amy Wheeler, BSA officer of First National of Nebraska. “Actimize’s workflow and automation tools help us efficiently comply with current AML rules. With Actimize, we also get flexibility and scalability that works with our legacy solutions while streamlining the overall EDD process.”
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