Aithent Inc. has introduced an on-demand version of its case management solution for complying with Bank Security Act and anti-money laundering rules.
Aithen SAR Manager is being offered as a SaaS solution at $100 a month, or $1,000 for year, regardless of the number of suspicious activity reports filed with FinCEN, the New York City-based company said.
The solution expands on tracking SAR reports by including the ability to provide a reason for filing the SAR as well as to aggregate, organize and analyze case information such as transaction records and notes, "ensuring regulators will understand why the SAR was submitted," the company said.
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The new solution is designed to meet the needs of financial institutions now under regulator pressure to electronically file SAR reports, the company said.
Eight of the 16 organizations currently using Aithent's fraud/ financial crime management and control solutions on the company's client list are credit unions, the company said.
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