AML Sanctions Screening important for mortgage lenders’ AML Compliance
Money laundering and Sanctions violations in the real-estate market are drawing more and more scrutiny, and mortgage lenders and real-estate brokers are seeking effective and efficient AML software solutions.
RegTechONE Sanctions Screening is an excellent choice as a stand-alone screening module for mortgage brokers, and AML Partners is currently completing implementations of its AML screening software for customers in that industry.
Screening against the OFAC list is especially important for mortgage brokers, and RegTechONE Sanctions Screening can easily be configured to import the OFAC list and then run SDN numbers on a nightly basis against a batch of individual/company names for prospective loans.
Part of the importance of mortgage brokers’ screening regimens relative to AML Compliance is that the originators of mortgage loans may choose to sell these loans to other banks, all of whom must track the history of these loans.
One of our mortgage-broker customers also is choosing to take advantage of regular Risk-management screenings of vendors, employees, and Ultimate Beneficial Owners of the mortgaged properties. For this client of AML Partners, RegTechONE Sanctions Screening provides not only an efficient and effective software solution for Sanctions Screening but also the added benefit of an automated attention to regular Risk management.
To learn more about what RegTechONE Sanctions Screening or the other RegTechONE AML software solutions can do for your business, contact us today.
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RegTechONE: AML Software Solutions for Peak Effectiveness and Efficiency
With AML Partners’ platform technology for RegTech, updating and upgrading your AML and eGRC software solutions is easier, faster, and much less expensive. Contact us today to explore how platform technology and our end-to-end AML Ecosystem powered by the RegTechONE platform–can transform the efficiency and effectiveness of your unique AML Compliance efforts. RegTechONE software for AML Compliance includes fully integrated modules for CDD KYC software for on-boarding, behavior and transaction monitoring software, and sanctions screening software for comprehensive AML screening. And AML Partners simplifies your end-to-end fully integrated AML Compliance efforts even further with an optional Subpoena Search module for FinCEN 314a and similar subpoena searches. Contact us today to learn about our proof-of-concept option or schedule a demo of RegTechONE, the AML software ecosystem. With extraordinary configurability and built for API extensibility, the RegTechONE AML software platformpowers not only an end-to-end AML software solution but also vendor management, AML client lifecycle management, eKYC Golden Records, Perpetual KYC, and so much more.
