Metavante Prime Compliance and Mizuho Corporate Bank

As the head of the Americas legal and compliance team, I’m glad to see Mizuho Corporate Bank use Metavante Prime Compliance. With comprehensive AML compliance components and a proven track record in the US and worldwide market, Metavante is helping to protect Mizuho Corporate Bank’s interests. Let’s take a closer look. Let’s start by defining the AML compliance process. Identifying suspicious transactions can help to prevent money laundering and other financial crimes.

Metavante’s anti-money laundering (AML) case management system

The AML case management system from Metavante offers a full suite of features to streamline the process of detecting suspicious activity. Its features include transaction history, audit notes, scalability, workflow, and efficiency. Reviewers can focus on investigating suspicious activity rather than re-examining cases. Cases can also be prioritized and analyzed systematically. And unlike report-based systems, the system tracks each action that takes place in the process of detecting and reporting suspicious activity.

The anti-money laundering case management system helps financial institutions track suspicious activity and report suspicious transactions. AML systems use detection rules to flag suspicious transactions, which analysts then review. Once an analyst has found evidence of suspicious activity, they build a case and report it to the appropriate governing authority. Case management is a critical part of money laundering and terrorist financing prevention. By using the system, financial institutions can ensure compliance and prevent money laundering and terrorist financing.

The AML case management system from Metavante allows financial institutions to create separate rules for different types of customers. This helps them monitor suspicious activity and route cases accordingly. These features make it possible for financial institutions to handle a growing caseload without sacrificing accuracy. While most report-based systems lack a consistent method for documenting suspicious activity, Metavante’s AML case management system does.

The AML Check feature provides an on-going compliance process for regulated entities. It allows regulated entities to implement controls and ensure the onboarding process meets legal requirements. It also helps prevent false positives by minimizing false alerts without losing critical data. It also allows organizations to reduce cycle time by eliminating false positives while reducing the overall number of reports. AMLcheck’s comprehensive reporting features make the process of investigating suspicious activity much simpler.

BSA Reporter

Metavante Corporation, a financial technology subsidiary of Marshall & Ilsley Corporation, has announced the availability of BSA Reporter, a new automated anti-money laundering solution, in its ASP environment. The company has 70 current licensed compliance software installations, and has successfully integrated BSA Reporter into its Integrated Banking Solution. In this article, we’ll examine how the software works. The first implementation of this new solution was undertaken by Bank of Hawaii, the largest independent financial institution in Hawaii.

Prime Compliance Suite’s BSA Reporter integrates case management capabilities that are highly customizable. You can configure rules based on risk classification and customer type to monitor suspicious activity. For instance, BSA Reporter’s rules and profiles can detect known money laundering and fraud scenarios. Based on these rules, the system automatically flags suspicious activity and sends you an email to alert the appropriate personnel. For example, if a customer makes more than one deposit during a specified period, this is a potential red flag.

Prime Compliance Suite also includes OFAC Reporter, EDD Reporter, Legal and OFAC Reporter. Metavante will also provide implementation services. The suite includes integrated compliance software that facilitates detection of suspicious activity and automates regulatory reporting. Once implemented, Metavante Prime Compliance Suite will help First American Bank achieve its regulatory goals. The software’s robust security architecture helps protect customers from fraud and other cyber threats.

The Prime Compliance Suite’s monitoring capabilities help you ensure compliance with the Financial Services and Anti-Money Laundering regulations. The PCS is also a critical tool for banks regulated under Part 504 of the DFS. Regular monitoring is essential to ensure the software works correctly and is free from vulnerabilities. And since the software can be updated, users can be sure that it has the latest security patches and version updates.

OFAC Reporter

The key to compliance with OFAC is to ensure your transactions follow the proper channels. Metavante’s OFAC reporting is built into its payment gateway software. This service allows you to send and receive payments through a network distribution window using SWIFT. Metavante’s OFAC reporter service provides the tools to comply with the OFAC rules, ensuring that you are not contributing to the proliferation of weapons of mass destruction.

Legal Reporter

Metavante Corporation, a global provider of banking technology, has announced a new agreement with First American Bank, a full-service bank with more than $2 billion in assets. This new deal will provide the bank with Prime Compliance Suite, including Legal Reporter, EDD Reporter, and BSA Reporter. The agreement also includes implementation services. The company has been offering the Prime Compliance Suite since 2006, and its latest product, Legal Reporter, has recently been released.

Metavante has grown steadily in the last two years, outpacing its own expectations in sales. Its recent acquisition of Orlando software brought in Commerce Bancorp, which has $28 billion in assets, and Wachovia Corp., a company with $493 billion in assets. The company has established relationships with 40 percent of the nation’s top banks. And it’s already seeing a 20 percent growth rate per year. In 2005, Metavante aims for $1.2 billion in revenue.

Prime Compliance Databank

The Prime Compliance Databank offers regulatory and legal due diligence data and is a powerful solution for financial services firms. It creates a global database of sanctioned and non-sanctioned parties to aid organizations in compliance. The data lists can also be integrated with Metavante applications for enhanced risk management. Metavante has a long history of providing risk management solutions, combining its expertise in legal compliance and operational risk with financial services expertise.

The company has acquired seven companies since the start of 2005, including Prime. Its current customers include financial institutions with a combined $746 billion in assets, and most are small banks. It charges 50 cents per account per month, with additional fees for other services. However, it is also expanding into new markets. For its part, Metavante plans to expand its compliance and risk management capabilities with this acquisition. The company plans to continue to market the technology under the Prime brand, combining it with its own infrastructure.

The company has grown by about 20 percent annually since the acquisition of Orlando software. Its customers now include nine of the top 10 U.S. banks, including Commerce Bancorp (which has $28 billion in assets) and Wachovia Corp. (which has $493 billion in assets). As a result of the acquisition, Metavante’s revenue has grown by 20 percent a year. The company aims to hit $1.2 billion in sales this year.