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Standard Bank & Trust implements Banker's Toolbox's BAM softwareMar 24, 2009 (Datamonitor via COMTEX) -- US-based Standard Bank & Trust has implemented Banker's Toolbox's Bank Secrecy Act Anti-Money Laundering Management System software to provide enterprise-wide fraud prevention and BSA compliance services. According to the company, Bank Secrecy Act Anti-Money Laundering Management System software (BAM) provides an automated account monitoring across all of Standard Bank &Trust's branches, reducing fraud risk for the bank and its customers and maintaining tight regulatory compliance. Bank executives also cited Banker's Toolbox global approach to product development as well as the company's training and customer support in their decision. The company said that BAM is a complete system for monitoring and reporting suspicious financial activity through a robust software system that aggregates, compiles, stores, and analyzes data. The system identifies high-risk activity with real-time or scheduled reporting. The platform also includes automated suspicious activity report and risk report management, giving Bank Secrecy Act (BSA) officers access to the most detailed reports available, down to individual tellers' on suspicious transactions. Pat Spears, vice president of branch operation support at Standard Bank & Trust, said: "From due diligence, through implementation and training and, now, in our everyday use, Banker's Toolbox has been there at every step with support and guidance. Their in-depth training program and comprehensive implementation process has enabled our staff to use BAM to its fullest potential, providing us with a strong, cost-effective BSA/AML strategy." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon |