COLUMBUS, Ohio — Four central Ohio credit unions are now using a new wire transfer compliance software solution.
The WireCentral system from Columbus-based Fuhr Software integrates policy and procedure with electronic workflow functionality to ensure that such transfers comply with OFAC regulations, the company says.
"WireCentral is a knowledge management-based solution that encompasses value-added decision making such as–system validation, automated internal controls, and increased efficiency," says Rich Capuano, CFO at Credit Union of Ohio.
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Also using the system are Tri County Area FCU, BMI FCU and Telhio Credit Union, the company says.
"Paper forms are not only insecure, but they can cause delays with this time-sensitive transaction. In addition, many institutions are not screening transactions against OFAC until the end of the business day," says Jaime Fuhr, president and CEO of Fuhr Software.
In addition to OFAC screening, WireCentral includes workflow queues, internal and external email notifications, user security and assigned authority levels and reporting and account-type options.
Fuhr Software (www.fuhrsoftware.com) also is the developer of Lobby Manager, a member queuing and lobby management solution.
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