Austin, TX – August 19, 2024 – RiskScout, a financial regulation technology company, is excited to announce its comprehensive BSA/AML solution designed to help financial institutions grow more efficiently and profitably while keeping their communities safe from financial crime. This innovative suite of tools streamlines BSA compliance tasks and reduces costs, all while unlocking new revenue streams for community banks and credit unions.
"Despite BSA/AML being a requirement for all US banks and credit unions, the market has long been plagued with outdated solutions, poorly supported offerings, and inefficient systems that lead to inflated compliance work and expenses," said RiskScout Co-Founder and CEO Justin Fischer. "RiskScout, in collaboration with DCI, provides financial institutions with the tools they need to manage BSA compliance effectively and focus on their core business - serving communities."
Key Features of RiskScout's BSA/AML Solution:
Tailored Transaction Monitoring: Customize your rules-based system and adjust alert thresholds to align with your unique customer/member risk profile.
User-Friendly System: Designed by BSA professionals for BSA professionals, our platform is intuitive and easy to understand.
Rapid Efficiency Gains: Achieve efficiencies within days of contract signing, eliminating months of waiting to see a return on investment.
Real-Time Communication and Collection: Don’t rely on the front line and unanswered emails for document collection and case investigation - communicate securely with customers & members for faster resolutions and documented evidence.
Market Expansion: Grow your deposits by working in new and underserved markets while feeling confident with your risk management.
Integrated KYC/KYB: Eliminate the need to buy additional data services to scan for sanctions, watchlists, adverse media, business structure, and licensing with baked-in automated ongoing monitoring and onboarding assistance.
"We are thrilled to partner with RiskScout to offer another robust and innovative BSA/AML solution for our customers," said Sarah Fankhauser, President and CEO of DCI. "This collaboration underscores our commitment to providing community financial institutions with cutting-edge tools that enhance compliance efficiency and operational excellence. We believe RiskScout's comprehensive solution will give our client's another choice in navigating the complexities of BSA/AML with greater ease and effectiveness."
For more information about RiskScout's BSA/AML solution or to see the solution in action, please visit www.riskscout.com or contact our sales team at sales@riskscout.com.
For additional information about DCI, visit www.datacenterinc.com or contact info@datacenterinc.com.
About DCI
DCI is the developer of the award-winning iCore360® core banking software, plus iCoreGO® digital banking and Fintech processing solutions for community financial institutions nationwide, including those using other core platforms. DCI is privately owned by a group of bank clients, with several serving as board members and user group leaders. DCI also provides private ATM network/card management, FrontLine™ teller software, custom analysis, risk/vendor management, and more. For additional information about DCI, visit www.datacenterinc.com or contact info@datacenterinc.com.
About RiskScout
RiskScout is a team of former bank examiners, BSA professionals, and fintech developers helping financial institutions grow and be more efficient and profitable. Through a full BSA/AML suite and specialized market tools, RiskScout's solutions increase revenue and decrease compliance costs by unlocking new deposit streams and automating compliance workflows.
Media Contact:
Ethan Kratt
Director of Marketing
RiskScout
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