Storage News

Aithent SAR Manager Eliminates E-Filing Costs

An article on PR-USA.net reported on the release of Athient SAR Manager, a solution designed to help financial institutions comply with industry regulations and save time and money. Athient SAR Manager has several beneficial features, such as screens that display current requirements for reports and a built-in review and approval system that will ensure all reports meet internal requirements. All suspicious activity reports (SARs) and any related data are stored for five years, and users can easily retrieve this information at any time.

"'FinCEN helps safeguard our financial systems from abuse by promoting transparency in the U.S. and internationally. This is done, in part, by gathering and analyzing data on potential and actual illegal activities from banks and credit unions, and other institutions that deal with money transactions,' said N. Venu Gopal, Aithent’s CEO. 'Since financial crimes like check, credit and debit card fraud, bogus loan applications and money laundering schemes have been, and will continue to be, on the rise, the federal government has been seeking to make the SAR an e-filing process. Aithent SAR Manager makes it easy for institutions hesitant to move from a paper-based method to a browser-based one. Aithent SAR Manager is secure and helps to realize savings in the process, with as much as a 50 percent reduction in time spent on each report, elimination of paper and certified mailing costs, among others.'"