Addressing the challenges of workflow protocols for onboarding new account data and managing existing account data is receiving a new focus by financial institutions sparked by the IRS recently granting a six-month extension for key FATCA compliance deadlines.
Nowhere in the regulations are financial institutions instructed to use a proprietary database or conduct a proscribed level of research when onboarding a new customer or counterparty. Yet this is where the bulk of the money is spent: in database costs, workflow tools, and investigative labor. As this is where the money is, we have […]
We have a new white paper out that summarizes what we see as the best practices in Know-Your-Customer workflow for commercial and investment banks. Based on meetings with […]
Alacra has announced the release of “Best Practices in KYC for Financial Institutions,” a white paper which answers the question most frequently asked of Alacra during compliance workflow discussions, “What are other banks doing to meet these challenges?” Read more… Download White Paper
Alacra Concordance provides a 400+ percent Return On Investment, according to a commissioned study. By smoothly aggregating disparate financial data, Alacra Concordance offered nearly $2 million in savings in productivity and labor costs.” Download White Paper
A comprehensive new solution helping financial institutions comply with AML and BSA regulations. Alacra Compliance is a workflow-based application that provides a framework for consistent application of your existing AML procedures and processes. Alacra Compliance helps you streamline the on-boarding process by bringing together all of your research sources within a single application. Download White […]
