MIS provides its members and their correspondent customers a range of proprietary information services to facilitate compliance with anti-money laundering (AML), trade and embargo, fraud and credit programs. These services include identification verification and matching of names against sanctions lists (such as OFAC) or other monitoring sources.
Branded as MIS CM, the case management tool streamlines the handling of these alerts from end-to-end, from receipt of an alert, to investigation and resolution.
When an MIS client receives an alert notification, MIS CM guides the client through the research and resolution process through a user-friendly workflow. Key features include routing of cases, attaching case evidence and reporting facilities. Role-based entitlements provide security and control to the review process.
The production launch follows the recent completion of a client beta program and involves a phased roll-out to the over 4,000 financial institutions represented by MIS members and their correspondents.
âMIS CM was built in response to our membersâ requests for a tracking and alerting system for our monitoring services, said Rich Rager, Vice President - Operations at MIS. âFeedback from our clients has been extremely positive, noting the toolâs ease of use and âimpressiveâ functionality.â
Wendy Kassel, Cicadaâs VP Program Management said, âCustomer Due Diligence compliance can be greatly improved through better automation and process efficiency. We are delighted with MISâ client feedback and look forward to supporting MIS as it rolls out the functionality to its full customer base.â
MIS CM was developed using the case management functionality and components of Cicada Profiler, the companyâs software solution for Know Your Customer (KYC) business process improvement and integration. Users of the MIS CM case management tool can optionally upgrade to the Cicada Profiler solution.