Valley Republic Bank BSA Officer and a BAM user Marji Hanlin said the weekly updates from Banker’s Toolbox are designed to keep us informed about current BAM changes.
"Normally you never know what has been completed or what they are currently working on. With BAM, those updates are front-and-center and keep you consistently informed. I absolutely love that. To top it off, BAM is easy to use as well," said Hanlin.
According to the bank, the tool facilitates comprehensive monitoring, better record keeping, improved efficiencies, and a transparent audit track.
The system offers BSA departments to minimize false positives by choosing meaningful parameters based on their own customers’ activity rather than the vendor’s default settings.
The bank owns $262m in assets in and provides banking services in Bakersfield, California, US.
Banker’s Toolbox provides technical solution pertaining to money laundering detection and reporting, risk management through fraud and kite prevention, secure wire processing automation, and commercial real estate loan portfolio risk assessment.
