CLEVELAND, Ohio (PRWEB) June 21, 2012
AML RightSource, a provider of outsource solutions for BSA/AML Transaction Monitoring, announced that Urban Partnership Bank of Chicago, Illinois has selected AML RightSource to monitor their customer’s data for potentially suspicious activity.
“We take our responsibility to guard against illegal money laundering and other suspicious account activities very seriously,” said Joel Ramos, Chief Compliance Officer at Urban Partnership Bank. “By outsourcing our BSA/AML Transaction Monitoring to AML RightSource, we not only are partnering with a proven provider, we are freeing our team to focus on other strategic responsibilities.”
AML RightSource offers a highly skilled professional AML compliance staff along with state of the art technology, in a domestic SSAE16 SOC2 compliant facility, to monitor institution’s transactional activity. This end-to-end solution provides the human and technical resources necessary to satisfy regulators and reduce BSA department costs.
"AML RightSource is proud to add Urban Partnership Bank to our growing list of clients," said Tom Pratt, President and CEO of AML RightSource. "We always look forward to collaborating with progressive institutions, like Urban Partnership Bank, to help lessen their BSA department’s workload, which allows the institution to concentrate on other areas compliance. With the far reaching impact of regulations such as Dodd-Frank, institutions such as Urban Partnership bank are challenged with making sure they maximize the compliance talent they have and we help them do that by taking BSA/AML transaction monitoring off of their plate so they can focus on more the technical areas of compliance."
AML RightSource is the only complete solution that is totally committed to delivering real solutions for real BSA problems. In addition to BSA/AML Transaction Monitoring, AML RightSource offers Case/Alert Remediation, Fraud Monitoring, OFAC/314(a) Compliance, and BSA/AML Consulting.
For additional information regarding AML RightSource, please call (216) 696-2000, e-mail Info(at)AMLRightSource(dot)com, or visit http://www.AMLRightSource.com.
About Urban Partnership Bank
Urban Partnership Bank is an FDIC-insured, full-service community development bank with $1.3 billion in assets that was established when it acquired the deposits and some of the assets of ShoreBank from the FDIC in August of 2010. Its mission is to make a difference every day: building vibrant urban neighborhoods, promoting economic and environmental sustainability and creating long-term success for its communities and the bank.
Urban Partnership Bank works together with individuals, small businesses, nonprofits, foundations, and faith-based organizations in underserved and distressed urban communities in Chicago, Cleveland, and Detroit to deliver quality financial services that often cannot be obtained elsewhere. It strives to catalyze economic and environmentally sustainable opportunities that build better lives and vibrant neighborhoods, while creating long-term success.
About AML RightSource
AML RightSource (AMLRS) is an outsource solution to transaction monitoring and alert resolution (TMAR™). These services have withstood regulatory audit and review and have been successfully vetted by State and Federal regulatory agencies, providing clients with a world class BSA/AML solution. More importantly, AMLRS provides critical experience and guidance in helping clients though difficult situations where regulatory pressure requires quick and efficient adoption and implementation of a fully functioning BSA/AML compliance department to effectively monitor customer activity, or perform OFAC Reporting and FinCEN 314a screening. Please visit http://www.AMLRightSource.com for additional information or call (216) 696-2000.