Coral Gables, Florida – February 15, 2022 – Sydel Corporation, a leading developer of customized information technology solutions for the financial industry, today announced the launch of the CompliXpert BSA (Bank Securities Act) Risk Assessment Module, a solution that will help financial institutions automate the BSA/AML risk assessment process.
As the U.S. Department of Treasury’s FinCEN (Financial Crimes Enforcement Unit) updates the BSA/AML Examination Manual, there is a greater focus on the BSA risk assessment and independent audit. CompliXpert’s new module helps financial institutions run a complete BSA risk assessment, on-demand, to quickly identify if there may be any potential pitfalls or high-risk areas within their products, services, customers or transaction geographies.
Using CompliXpert will ensure the financial institution maintains consistency in the final report from year-to-year with the supporting methodology easily at hand. The BSA Risk Assessment should be a conclusion based on carefully evaluated and presented factual evidence. Automation is key to consistency in conclusion effectiveness, while avoiding manual intervention that can lead to errors.
CompliXpert is a suite of AML monitoring, watchlist verification and compliance solutions created for compliance officers and other bank executives to access detailed information regarding customer risk levels and transaction risk using a proactive, alert-based digital system. The addition of the BSA Risk Assessment module further completes the overall system, which uses real-time data and provides solutions within several key areas of risk and reporting.
“CompliXpert continues to adapt to the ever-changing landscape of financial institution compliance, becoming a more robust tool that provides quick, quantifiable results,” said Antonio Gonzalez, Director of Sydel Corporation.
Sydel Corporation is a Coral Gables, Florida based compliance fintech company offering expert information technology, accounting consulting and business process analysis. The company develops customized software solutions for businesses to help overcome existing or emerging business challenges in niche markets. For more information visit www.sydel.com.
