First National said that it has improved its customer monitoring and enhanced due diligence (EDD) processes by leveraging Actimize’s customer due diligence and enterprise risk case management solution to automate and streamline workflow functions across its enterprise-wide AML program.

The Actimize customer due diligence solution provides comprehensive risk management, from initial collection of customer data, to risk monitoring and case management. Actimize’s enterprise risk case management solution consolidates information from Actimize and existing detection systems into a single, user-friendly application for alert management, case development, investigations, regulatory reporting (i.e. SAR), oversight and more. Actimize’s enterprise risk case management supports AML operations with comprehensive workflow management, evidence collection and documentation.

The Bank Secrecy Act, the Third EU money laundering directive and other global AML regulations require that financial institutions implement customer due diligence programs. Section 312 of the USA Patriot Act requires US financial institutions to perform due diligence, and in some cases enhanced due diligence with regard to correspondent accounts established or maintained for foreign financial institutions and private banking accounts established or maintained for non-US persons.

Amy Wheeler, BSA Officer of First National of Nebraska, said: “Actimize’s workflow and automation tools help us efficiently comply with current AML rules. With Actimize, we also get flexibility and scalability that works with our legacy solutions while streamlining the overall EDD process.”

Amir Orad, CEO of Actimize, said: “Banks are looking to meet regulatory requirements at lower costs by driving efficiencies and automation using sophisticated technology. First National of Nebraska’s use of Actimize technology for enhanced due diligence is a great example of the value we provide our clients.”