The Bank
Secrecy Act. September 11. 314A. USA
Patriot Act. These terms remind managers
of the sweeping changes that have occurred
with respect to compliance.
Prime Legal Reporter is designed
to comply with the requests for information
from regulatory and legal entities.
This module of Prime Compliance Suite
of products will not only
track requests, but their responses
as well. The system will provide functionality
to address the major tasks in responding
to requests for information:
- Importing identifying information
of requested parties
- Searching for the presence of data
that corroborates the request
- Examining the results of the search
and determining which records are
of interest
- Approving of the proposed response
by authorized personnel
- Reporting/outputting of the desired
search results.
Legal Reporter provides Metavante's powerful matching algorithms,
facilitating SQL query functionality, and transaction
information and CIF searching.
Information regarding the request,
requestor, and the response(s) to each
request will be maintained, and the
information may be manipulated or annotated
by authorized personnel. Once a response
is approved for transmittal, it may
be distributed in either a paper or
electronic format to the requesting
agency.
Metavante firmly believes that the labor-intensive
process of fulfilling ever-increasing requests for information
in tight timeframes can and must be automated to increase
an organization’s operational effectiveness. The
introduction of Legal Reporter will save time and money
for institutions complying with the demands and responsibilities
of operating in today’s regulatory environment.
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