The wire transfer process has always been, and still remains, one of the most labor-intensive tasks for financial institutions. That is why CSI created WatchDOG Wire, a compliance software solution that automates the entire wire transfer process, while at the same time enhancing risk detection and supporting BSA/AML, Red Flags and other compliance programs.
Maximize Wire Room Compliance
WatchDOG Wire enables automated processes, improved workflow, OFAC compliance and comprehensive risk management all in one web-based compliance solution.
Implementing WatchDOG Wire at your institution will:
- 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 facilitates the assignment and auditing of, all transaction information
- Allow for customized settings of wire approvals based on wire amounts
In addition to the efficiency benefits listed above, WatchDOG Wire fits perfectly with your institution’s OFAC and BSA/AML compliance programs.
WatchDOG Wire facilitates your institution’s OFAC compliance by incorporating real-time OFAC screening for incoming and outgoing wires and providing designated fields to capture the originator and beneficiary, which enables OFAC scanning for Sanctioned Countries.
Take advantage of WatchDOG Wire’s AML Trending Reports, a full audit trail feature with archives of the relevant data of completed transactions and user-friendly search capabilities for quick access to transaction information in order to maintain BSA compliance at your institution. It also serves as an effective tool for suspicious activity monitoring so you can automate wire processes and enhance BSA/AML compliance with one easy solution.
Gain more control over your institution’s wire transfers, ensure OFAC and BSA/AML compliance and communicate more effectively with your customers – Call CSI today to find out more about WatchDOG Wire and the advantages it offers your business.
Brochure - WatchDOG Wire