Banker's Toolbox solidifies its position as the premier solution for fast-growing financial institutions with the release of BAM+ 4.0 upgrade.
Banker's Toolbox continues to lead the BSA/AML and Fraud prevention marketplace with the release of BAM+ 4.0. This solution provides increased detection with more versatility, transparency and control. BAM+ 4.0 also boasts a new customer due diligence platform, Due Diligence Manager, which will keep institutions compliant with the impending beneficial ownership mandates. (Read full press release here.)
Treasury confirms participation in Same Day ACH
With the publication of a final rule, the Treasury has confirmed it will participate in Same Day ACH as of September 15, 2017. The rule, issued by Treasury's Fiscal Service Bureau, adopts NACHA rules changes that impose a fee on the Originator of an unauthorized entry. The Bureau has also agreed to accept the reporting requirement on return rate levels, and not to opt out of NACHA's requirement that Originators make a reasonable effort to notify a Receiver of reversing entries.