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.

Features

  • 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 

Benefits

  • 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.

Try Us Out

Try our no risk, 30-day free trial and see for yourself: purchasing new software does not have to be stressful.

Check Our References

We provide the best customer service in the industry–just ask our customers. Please contact us for a reference list.