BaaS Compliance demo
Agents re-perform each fintech partner's files, tie each partner ledger to its FBO account daily, and draft findings for the BSA Officer to approve 1:32
What the demo shows
Sponsor banks test fintech partners' KYC, monitoring and SAR referrals against their program
Agents re-perform a risk-based sample of each partner's end-customer files with the bank's own identity, OFAC and due-diligence sources and test the whole population when failures share a cause; tie every partner ledger to its FBO account each business day and rebuild every end customer's balance; propose the cause of any break; review partner SAR referrals while the partner only ever sees 'received' and 'review complete'; and draft findings in condition, criteria, cause and effect with a proportionate restriction and remediation items that close on a passing re-test. The analyst submits, the Third-Party Risk Manager concurs and the BSA Officer approves.
Transcript
- BaaS Compliance helps sponsor banks test their fintech partners' KYC, ledgers and SAR referrals.
- The FDIC has proposed daily reconciliation of these partner accounts.
- At Tessaly Community Bank, agents re-performed sixty Fernquill Pay files; four fail.
- Date of birth was never verified, and 212 more accounts share the gap.
- Fernquill's ledger also sits nearly $23,000 above Tessaly's for-benefit-of account.
- The agent rebuilt every balance and traced the gap to 23 unposted card reversals.
- It drafts the finding, with a narrow pause and four remediation items.
- Aisha submits, third-party risk concurs, and the BSA Officer approves the pause.
- Partners never see SAR decisions, and every step lands in the examiner's audit trail.
- Eleven programs, 214,000 end customers, tied out daily and tested every quarter.
- Built on Botminds: agents, data, screens and governance on one platform.
The narration as written for the film. Captions are on the player.