What are you using for online teller systems?

Posted By: thomasj

What are you using for online teller systems? - 07/31/02 12:24 AM

We are looking at vendors for online teller systems. We just saw a presentation today of a product called "Teller Insight" from Metavante. Are there any banks out there running this system? They are getting us a list of banks that use it but I would like to hear from anyone here that does. Since we are a Metavante bank this product seems like it would work well with our existing systems.

The BSA Reports, online prompts for CTR's and aggregation reports really appeal to me since I am doing a lot of this manually at the moment.

We are also looking at a product called Win Teller.
Posted By: Yoda

Re: What are you using for online teller systems? - 08/01/02 12:35 AM

We used to use their "PC Teller" system before. Wasn't too bad.
Posted By: Anonymous

Re: What are you using for online teller systems? - 03/17/03 10:05 PM

What did you finally use for your bank's teller operations?

Posted By: thomasj

Re: What are you using for online teller systems? - 03/18/03 12:41 AM

We are in the process of setting up Teller Insight from Metavante. Since we are a Metavante bank, the product was the most seamless and offered the most user friendly features.
Posted By: BankerMama

Re: What are you using for online teller systems? - 03/18/03 10:11 PM

We use Vertex (Jack Henry).
Posted By: Anonymous

Re: What are you using for online teller systems? - 03/19/03 02:03 PM

Is anybody out there using Precision Deposit Platform??
Posted By: TDW

Re: What are you using for online teller systems? - 03/19/03 02:04 PM

Quote:

Is anybody out there using Precision Deposit Platform??




Sorry, I forgot to login!!
Posted By: MrHawaii

Re: What are you using for online teller systems? - 03/19/03 10:16 PM

Thomas - Let me know how TellerInsight works for you.
Posted By: thomasj

Re: What are you using for online teller systems? - 03/19/03 11:41 PM

Will do. We will start implementing it branch by branch next month.
Posted By: Anonymous

Re: What are you using for online teller systems? - 03/25/03 09:35 PM

Our institution uses Metavante to provide our online Bill Payment Service. We use another service provder for our website and online banking.
Just a warning, their lack of customer service, both to our members and to our staff, has caused their name to become almost a swear word around here.
Posted By: c.a.r

Re: What are you using for online teller systems? - 03/26/03 04:04 AM

We use ITI Teller II. I really like it. The tellers do not. As with all teller systems I think you find it a little slower then what the tellers are use to. Good Luck
Posted By: Kara S

Re: What are you using for online teller systems? - 03/26/03 03:35 PM

We use the Phoenix System from the London Bridge Group. It is very user friendly, most people do not have a problem learning it, and I didn't have any problems training it. I liked this more than what Metavante or Fiserv offers. However, it has been years since I have been behind the teller line with those two systems.
Posted By: DickBurch

Re: What are you using for online teller systems? - 03/28/03 01:56 PM

We are using Jack Henry's Vertex, it is a fully integrated system to the core. We open accounts with signature boards and the signature card is viewable in Vertex as soon as the CSR hits enter. CTR, Bond reporting as well as stats are all online.

I am familier with Metavante and you need to be sure everything works as they say it will, if you know what I mean......
Posted By: SJB

Re: What are you using for online teller systems? - 03/28/03 11:22 PM

We use Metavante for bill pay. I sent them a question about my own bill pay account early this week.
It is now Friday and the message has not even been acknowledged.
Posted By: thomasj

Re: What are you using for online teller systems? - 03/29/03 01:45 AM

I have mixed feelings about Metavante somtimes, but I have called the 800 number for problems with my online bill pay twice and spoke with someone who handled the problem right away. We just went live two days ago at one branch with their online teller so I really can't comment yet, but a couple of features that they said it had as far as BSA/CTR reporting when they were selling the product were apparently figments of my imagination because they do not exist. I checked with my assistant and she said she heard them say the program would do those things as well. Oh well, it will still be better than completing manual entries on excel spreadsheets for 20 branches!
Posted By: Comply 101

Re: What are you using for online teller systems? - 04/03/03 06:36 PM

Thomas,

We are with Metavante as well and I believe their CTR solution is a separate module, not part of Teller Insight. You will find their $3000 to $10,000 purchase of a monetary instrument software to be very helpful. It automatically finds these transactions and forces the teller to fill out the correct information. Also, the Reg CC hold screen is very helpful by printing out the correct hold slip for the teller.
Posted By: thomasj

Re: What are you using for online teller systems? - 04/03/03 10:23 PM

David,

Thanks for the response, nice to know someone else out there is a Metavante bank. I realize now that the CTR system is separate, but I was kind of led to beleive that it was integrated. For instance, I thought they said that when a customer exceeded $10,000 in one day in multiple transactions, that a CTR would pop up. I found out later that the aggregation occurs that night and that the CTR is created in the CTR section. The CTR only comes up if one transaction exceeds $10,000 in cash. I have not dealt with any monetary instrument entries yet, we just had our first CTR for a non-exempt customer today. I am anxious for tommorrow to see how it shows up.....
Posted By: Becky

Re: What are you using for online teller systems? - 04/04/03 01:56 PM

Many teller vendors sell "same day" online CTR aggregation (i.e. a customer goes in to multiple branches on same day, performs several cash transactions under the threshold, and when the CTR threshold is reached, the lucky teller helping the customer gets prompted to complete a CTR) and it is possible to do from a technology perspective. But in reality, this type of real-time aggregation can greatly reduce host response time, and create system architecture challenges, so the perceived benefit is often offset by the added cost or increased transaction time. And since BSA does not require aggregation to be caught real-time (catching it on the back end is sufficient), most banks end up choosing that route instead. I worked for a bank that bought a system that sells real-time aggregation (EZ Teller), and we turned it off after realizing how slow our response time was. And now I work for a teller vendor that has the capability of doing it, but the larger banks just have too much network traffic to withstand the added pressure that real-time aggregation would create. Now many teller vendors offer products that aggregate real-time within a customer session (mine included) and that is a big selling point from the perspective of many larger banks.
Posted By: Kathleen O. Blanchard

Re: What are you using for online teller systems? - 04/04/03 05:06 PM

I would be thrilled with one that aggregated and presented me with a CTR next day. We are challenged because our ITI teller system batches all cash outs, requiring us to hunt through reports to find other transactions. It also does not create a CTR with the dollars aggregated and prefilled. The best it does is allow us to have templates for frequent customers. I am pushing for new teller and currency systems. The teller system and the currency system don't work together well.
Posted By: thomasj

Re: What are you using for online teller systems? - 04/05/03 01:22 AM

I have to say that it seems silly for me to complain about any shortcomings of this system, we currently aggregate cash transactions over $3,000 on excel spreadsheets on the teller line at 20 branches. 20 spreadsheets are sent via e-mail to my deparment each week to be combined, sorted, aggregated, reviewed for suspicious activity and missing CTR's. The new system will be much nicer with mag filing and everything once everyone gets online.
Posted By: Kathleen O. Blanchard

Re: What are you using for online teller systems? - 04/05/03 02:30 AM

Thomas, when was your last BSA exam? During our recent exam the OCC was concerned because we can't tell if a customer goes to 11 branches and buys a $1,000 money order or cashier's check at each. (I have some very close to doing that but not that bad.) Do you have a way to capture that type of activity?
Posted By: Rubaiyat

Re: What are you using for online teller systems? - 04/05/03 04:36 AM

kaybee, we are also an OCC regulated bank (and a Metavante bank) and had the same issue with tracking cashier's checks purchased at multiple branches. We had a programmer write some simple software for us that is accessed through our network which logs and tracks monetary instruments. Not only were we able to do away with hand written logs, but we can also centralize the information so it is an easy matter to check the activity in one day in multiple branches. It has made life easier and we feel we that we are doing all that we can do to monitor this information, not only for an exam but also as a general best practice.
Posted By: Kathleen O. Blanchard

Re: What are you using for online teller systems? - 04/05/03 01:57 PM

What info are you able to gather through the program? Can you tell who made the purchase? Our system does have a purchase journal available through the currency transaction module, rather than the teller platform. Branch admin doesn't want to have to use it because the tellers would have to minimize the platform window and open the currency module. I am the point of saying perhaps if they minimize the platform window it will minimize my sentence in federal prison.
Posted By: thomasj

Re: What are you using for online teller systems? - 04/05/03 02:09 PM

Our last BSA exam was in June of 2000 and it was a specialized exam just for BSA because there were problems with our BSA program prior to that. We were not aggregating transactions at all so theoretically someone could have been going into all of our 20 branches and deposit $10,000 at each one and we would not have known. At the time, management did not want to take the plunge to online teller, and our proof/imaging system at the time was not able to catch multiples on the back end. We started using paper logs, and the tellers would log each transaction of $3,000 in cash or more and send their logs to me to be entered on a spreadsheet for aggregation.

The OCC was happy with our program in that exam, but we have another one coming in May, so we will see. I just went through an audit of the BSA program and received an "outstanding" rating, so it will be interesting to see what the examiners think. To be honest, I think we have a pretty good handle on things. I was just at a BSA seminar last month and some of the other people there did not have a clue. The guy sitting next to me asked me to fax him all of my BSA training material, he said he had examiners coming in 2 weeks and needed to do some training.

The teller insight system logs monetary instrument cash sales for us of $3,000 or more. I think your examiner was being extremely picky if they are going to $1,000. We could log those transactions through an automated suspicious activity log I think if we needed to.
Posted By: Kathleen O. Blanchard

Re: What are you using for online teller systems? - 04/05/03 02:23 PM

Thomas, from our exam - and from what I have heard from other banks recently examined - while the $3,000 meets BSA reporting requirements, it does not necessarily meet AML suspicious activity monitoring requirements. Therein lies the rub!

Anyone out there using Bankers Toolbox BSA Manager? It is aml/bsa software intended for community banks. I have asked for a demo, cost, etc.
Posted By: Rubaiyat

Re: What are you using for online teller systems? - 04/05/03 04:36 PM

I've attended a couple of BSA sessions offered recently by our regional OCC office and the real life examples they used were scary. And the issue of missing things below the $3000 mark were exactly some of the issues they were looking at.

Because we had the software written for us we were able to decide what we wanted to track. We do track who purchased the item, who it was going to, which branch was used, dates, addresses, etc. It is now an easy matter to catch a common address on multiple instruments which didn't have common purchasers, or common receivers which didn't have common purchasers, etc.

While it is a separate program from the platform system, it is still easier to use than a paper log. And because it is on the network, it is very easy for our BSA officer to monitor this. The OCC has informally given us their blessing on this process.

Interestingly enough, we had a targeted BSA exam a couple of years ago because of our geographic location. The big guns were here from D.C. and this was not mentioned as an issue. It has only been within the last 18 months or so that this has become hot.
Posted By: Kathleen O. Blanchard

Re: What are you using for online teller systems? - 04/05/03 04:40 PM

I agree. This is all post-World Trade Center. AML issues are fast surpassing any BSA specific issues. I am in NJ so it is really a hot button. I am going to push to have the purchase journal used. It is more work for tellers, but it protects the bank.