EDD module provides the user with a complete set of tools to monitor and report all Bank’s transactions in a friendly and easy-to-use manner. This system allows the institution to maintain a complete control in today’s most important regulatory issues and fully comply with laws and regulations under the Bank Secrecy Act, Anti-Money Laundering Law and Know Your Customer.

• Transaction Monitoring System
• Money Laundering
• Terrorist Financing

Patriot Act Compliance requires financial institutions to provide policies and procedures to:

• Detect and prevent money laundering
• Due diligence procedures
• Know your customer

Monitor customer’s transactions:

• Use advanced profiling techniques
• Manage tolerance values
• On going adjustment of tolerance values
• Track daily activity for deviations
• Close monitoring of violating accounts
• Patriot Act Compliance requires financial institutions to provide policies and procedures to:
Detect and prevent money laundering
Due diligence procedures
Know your customer

• Interacts with any back-end
• Process daily transactions
• Integrates (optional):
Cash transactions
Wire Transfers
Check images

• Smart reprocessing:
Option can be run multiple times without data duplication

After setup all the tables available in the system:

• Bank
• Branch
• Transaction Codes
• Transaction Group
• Officer
• Classes
• Geographic Code
• Sensitive List
• Risk Code
• Status Code
• Reason Code

The EDD system application is ready to perform the daily transaction monitoring against their respective account profiles for all bank’s customers.

The system is based on transaction codes and transactions group. Every transaction used in the bank is grouped into a major level called transaction group to identify to which group a transaction belongs:

Transaction	Description	Group
DP	Deposit	100
DC	Cash Deposit	100
DM	Mixed Deposit	100
CK	Checks	200
K1	Checks Teller Line	200
K5	In clearing Checks	200

There are three ways to setup the profiles:

Default

The system allows you to create default profile values for personal and corporation accounts. When a new account is opened the system create the profile using this default value. Once the profile is created later the compliance department or the department in charge to maintain the profiles can perform the respective maintenance using the actual information provided by the customer.

• Default profile generation can be based on:
Default values
Historic activity

• User defined profile structure
• Variance allowances setup at different levels:
Customer
Account
Transaction Groups (Detail)

• Exception tracking and classification by user defined reason codes

KYC Form filled by the customer

Using the KYC form filled by the customer you can modify the profile account created with default values.

Previous Year Information

Using the previous year transaction information the profiles can be created, the bank will provide the average calculation formula in order to obtain the profile value that corresponds to the accounts. The values calculated are for quantity and amount for each group.

The bank can activate the tolerance amount or percentages that will be allow the profiles to be exceeded.

The EDD module has an End-Of-Day process in order to determine any exception that can occur. The actual transaction activity period (quantity and amounts) for a given group of transaction are checked every day against the profile (plus any tolerance) accounts to create their respective exception record that will help the department in charge to monitoring the transaction activity for a specific account.

The EDD system contains a set of report that can be printed by customer, account, exception, transaction, officers, geographic code that will support the monitoring control. See EDD user guide for additional information.

The EDD system contains a set of inquiry screen that can used by customer, account, profiles, comments, audit that will support the monitoring control. See EDD user guide for additional information.

 
 

 
 

 
 

 
 

 
 

 
 

 
 

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