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#1853051 - 09/17/13 07:54 PM OFAC inquiries
danyielg Offline
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danyielg
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We've been using FIS qualifile which includes OFAC screening. We recently got their notice that they would no longer include it with qualifle, but want to sell us another component that will screen OFAC. I'm curious to know if other banks are purchasing the new piece or just relying on your core system to check OFAC. Any input?

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#1853055 - 09/17/13 08:00 PM Re: OFAC inquiries danyielg
edAudit Offline
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edAudit
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Originally Posted By: danyielg
We've been using FIS qualifile which includes OFAC screening. We recently got their notice that they would no longer include it with qualifle, but want to sell us another component that will screen OFAC. I'm curious to know if other banks are purchasing the new piece or just relying on your core system to check OFAC. Any input?


Although it is not required the OCC has required it for us.
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#1853748 - 09/19/13 03:14 PM Re: OFAC inquiries danyielg
danyielg Offline
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The OCC requires you to use a vendor other than your core? or more than one verification?

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#1853799 - 09/19/13 04:07 PM Re: OFAC inquiries danyielg
edAudit Offline
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edAudit
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Originally Posted By: danyielg
The OCC requires you to use a vendor other than your core? or more than one verification?


other than the core and they consider us of higher risk,

but of course it is not a requirement just a suggestion
Last edited by EdAudit; 09/19/13 04:08 PM.
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#1853846 - 09/19/13 05:22 PM Re: OFAC inquiries danyielg
danyielg Offline
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danyielg
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Thanks EdAudit smile

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#1853896 - 09/19/13 06:41 PM Re: OFAC inquiries danyielg
SunnyFL, CRCM Offline
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I'll bet we received the same letter you did but after checking with FIS Member Solutions we found that we already had what they are referring to as the standalone solution. Had no idea....so you might call them to inquire if you already have it also. Worth a phone call.

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#1855126 - 09/24/13 08:39 PM Re: OFAC inquiries danyielg
danyielg Offline
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danyielg
Joined: Jun 2007
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Thanks SunnyFL smile

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