Replace manual chaos with automated control and compliance

The system allows for dynamic configuration of checklists, products and the setup of defined exception types into a central library. Internal administrators can add new categories, products and checklist items without interrupting existing items.

When configuring your exceptions into the FINBOA system you can preselect SLAs and Due Dates for the type of item and certain uses will also have the ability to manually adjust the due dates after an exception is created based on proviledges.

Using data imports the solution can create predefined cases or reports within the system to identify new accounts.

The tool allows for exceptions types to be added to the repository by internal FI administrators, so new categories, products and checklist items can be added without interrupting the existing items and for new items that may be impacting your FI.

The system includes a robust audit trail for creation, maintenance and closure of exceptions including date, time and user information.

With the analytics and reporting features within the tool an FI can generate themes, common exceptions types, trends and user or branch level reporting to decide what areas are generating exceptions and what policies may need to be retrained or where operational controls may need to be improved to prevent violations.

While a review of new accounts, new customers and new loans has typically been pushed to the operational realm at many FIs, the Compliance testing and monitoring units can review identified exceptions, take a sample of new customers and ensure the operational processes are identifying violations successfully, while also using reporting to track metrics on the resolution of compliance related issues from the front line or back office units responsible for ensuring compliance.

Users of the system can not close and items without a permissioned user to review and close the item to ensure quality in the closure of exceptions. Flagged items are found on the dashboard and can be reported and filtered in real time for follow-up.