Premium Products / Personal Service
Wire Transaction Monitor
The Wire Transaction Monitor (WTM) automates all of your wire record keeping, as required by the BSA travel rule. It also does OFAC scrubs.
WTM automatically records all your wire transaction data in a single database.
The system uses past activity to current activity, and alerts you when customers have unusual wire transactions.
Our search logic lets you view transactions in multiple ways. (For example: account number, customer name, beneficiary or originator name, by sending or receiving bank number or name–and more!)
The system performs OFAC checks on all parties in a wire transaction (including intermediaries), for both incoming and outgoing wires.
The system does fast and efficient OFAC scrubs for your entire customer list.
Updates to the OFAC SDN list are retrieved directly from FinCEN, so it’s easy to keep the database up-to-date.
Performs 314(a) checks on wires and keeps the results for the mandatory five years.WTM
WTM automates the Enhanced Due Diligence function and simplifies the monitoring of high-risk accounts.
The system greatly reduces response time for subpoenas and regulatory requests.
It produces great statistics for the OCC’s MLR report.
Our OFAC checker operates in-house; a slow Internet connection does not impact the system.