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Next time you walk into a bank remember this:

PATRIOT Act Connection™

Financial institutions require solutions that limit work flow interruptions, are economical, and allow customization according to their policies and procedures. These requirements don’t change when considering a solution to comply with Section 326 of the USA PATRIOT Act. Bankers Systems’ PATRIOT Act Connection™ (PAC) solution provides an integrated, component-based approach to meeting the compliance requirements of Section 326 of the USA PATRIOT Act.

The PAC resource includes a Risk Assessment Module and an identity verification component with future offerings to include OFAC and FinCEN lists, international data source, data retention, fraud databases, and more. With the PAC solution's risk-based approach, only suspect accounts are forwarded to the identity verification process—IDFlag, thus reducing your overall cost. This risk assessment module can also be customized to accommodate your customer identification policy.

IDFlag is a complete solution, providing verification, validation and high-risk searches. BSI has partnered with RiskWise to bring you this solution—a company that has focused on identity verification for five years—longer than any other major competitor. This partnership gives you the peace of mind that comes from the reputations of BSI’s compliance expertise and RiskWise’s unparalleled identity verification processes.

Your employees will find the entire process quick and easy to use. IDFlag includes help text that will direct your employees on the steps to take when presented with conflicting identity verification information. This help text can be customized to meet your institution’s risk management procedures.

The PAC solution offers a comprehensive deposit and lending solution from one vendor, reducing the time and inconvenience of working with multiple organizations to meet all of your compliance and identity verification requirements. The integration process with your existing work flow is made easier as BSI has partnered with many of the industry-leading data processors and software providers. We also offer technical integration services to assist you in with integrating with proprietary systems or any other systems.

How PAC can work for you:

Institutions can deploy the PAC solution in various manners—depending on each line of your business needs. The new account department may deploy a real-time model in order to detect improprieties before distributing checks or other monetary instruments. The lending department may deploy a batch solution because the credit decision is generally an overnight process. Most departments will choose to integrate with their existing systems to reduce the amount of interruption to the work flow.

The integrated process is as follows:

1. Bank employee enters customer-identifying information into their existing system.
2. The information is exported from their system to the PAC solution.
3. Bank employee identifies which parties to run through the process.
4. Bank employee provides data that was not originally collected in their account origination system.
5. Bank employee answers a series of questions about the customer to determine customer’s risk level.
6. If recommended by the Risk Assessment Module, bank employee elects to run IDFlag.
7. Bank employee either prints the results or exports the data to their system to comply with the record retention requirements of Section 326.

It goes on....

http://www.bankerssystems.com/Bank/Deposit/html/pac.htm