Bank Secrecy Act

Clearwater Credit Union Partners with Cotribute to Streamline Digital Account Onboarding Experience, Automated Loan Origination Process

Retrieved on: 
Tuesday, March 5, 2024
Professional Services, Technology, Software, Finance, Fintech, Banking, Digital Cash Management, Digital Assets, SMB, AML, Friction, KYC, SVP, CDFI, Bank, Bank Secrecy Act, BSA, Accounting, Automation, KYB

Clearwater selected three of Cotribute’s modules: Consumer Account Opening, Commercial Account Opening and Consumer Loan Origination.

Key Points: 
  • Clearwater selected three of Cotribute’s modules: Consumer Account Opening, Commercial Account Opening and Consumer Loan Origination.
  • Cotribute’s platform will enable us to provide a highly intuitive digital account opening process and loan origination process.
  • Additionally, Cotribute’s Consumer Loan Origination module streamlines the previously manual lending process, enabling members to quickly and efficiently access loans.
  • “Cotribute enables Clearwater to provide its members with instant, digital account opening, seamless deposit origination process and simplified loan origination processes from the very first touchpoint.

Metropolitan Commercial Bank Bolsters Risk Management and Finance Teams with Experienced Large Bank Veterans

Retrieved on: 
Thursday, February 29, 2024
Automotive, Natural Resources, Other Manufacturing, Entertainment, Other Energy, Energy, Manufacturing, University, Other Philanthropy, Education, Contracts, General Entertainment, Sustainability, General Health, Family, Defense, Environment, Consumer, General Automotive, Health, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Other Professional Services, Public Relations, Investor Relations, Marketing, Human Resources, Finance, Communications, Banking, Professional Services, Philanthropy, Other Natural Resources, Senior, AIG, Risk management, Growth, Federal Reserve Bank, NYCB, State university system, History, Bank, Management, J. P. Morgan, Commercial bank, AIRC, State, MBA, CRCP, MCB, Chartered, AML, Capital One, State bank, Bank Secrecy Act, Hofstra University, Accounting, FRBNY, Barclays, BSA/AML, Community Bank, New York Community Bank, FDIC, JPMorgan Chase, BSA, Business administration, American International Group, Executive, Flagstar Bank, CAMS, Life Office Management Association, Federal Deposit Insurance Corporation

“Metropolitan Commercial Bank is delighted to welcome Greg Gaare, a seasoned risk management professional.

Key Points: 
  • “Metropolitan Commercial Bank is delighted to welcome Greg Gaare, a seasoned risk management professional.
  • He recently was the Deputy Chief Risk Officer in the Risk Management Division of Flagstar Bank.
  • We will continue to position Metropolitan Commercial Bank as an industry leader,” Gregory Gaare, Senior Vice President and Chief Risk Officer at Metropolitan Commercial Bank remarked.
  • “With its rich history and commitment to excellence, Metropolitan Commercial Bank is at the forefront of the commercial banking industry.

First-Chair Federal Prosecutor Andrea Surratt Joins Crowell & Moring

Retrieved on: 
Monday, March 4, 2024
Virginia School for Girls, Joint Terrorism Task Force, Moses Austin, Bank, Narcotic, Fraud, Pharmacy, Offense, Government, Cryptocurrency, Bank Secrecy Act, Digital asset, Ground substance, University, Homicide, DOJ, Law, White collar, Surratt, Justice

DENVER, March 4, 2024 /PRNewswire/ -- Andrea Surratt, a former Assistant U.S. Attorney in both the Southern District of New York and the District of Colorado, has joined Crowell & Moring's Denver office in the White Collar and Regulatory Enforcement Group.

Key Points: 
  • A seasoned prosecutor, Surratt has served as first-chair for sophisticated investigations, trials, and appeals involving money laundering, fraud offenses, sanctions and export controls, gaming, cybercrime, cryptocurrency, and national security issues.
  • "It is a particular point of pride for me to watch Andrea rise through the ranks of two different U.S. Attorney's offices and then join our growing Denver office."
  • As chief of the narcotics unit in the SDNY, Surratt supervised 30 junior federal prosecutors and oversaw a wide range of complex cross-border money laundering and narcotics trafficking investigations.
  • "In leaving the government, I knew I wanted to find a collaborative team that values each individual's input and experience to achieve excellent results for clients, and Crowell is that place," Surratt said.

Asure Announces Third Quarter 2023 Results

Retrieved on: 
Monday, November 13, 2023
EBITDA, Human resource management, National Automated Clearing House, Acquisition, Bank Secrecy Act, Internal Revenue Service, Bank, ASUR, Average revenue per user, J. P. Morgan, Secure, Exercise, Asure Software, HCM, BSA, Small business, Housing association, SECURE Act, Retirement, Growth, LP, ERC, NACHA, Cryptocurrency, Video game, Pharmaceutical industry, Lendio

AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today reported results for the Company’s third quarter ended September 30, 2023.

Key Points: 
  • AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today reported results for the Company’s third quarter ended September 30, 2023.
  • Asure will white-label Vestwell’s 401k platform and process the associated tax credits on behalf of its clients.
  • “We expect that the growth of our business will continue and today we are issuing guidance for the fourth quarter 2023 as well as introducing preliminary guidance for 2024 revenues.
  • Regarding fourth quarter 2023, we expect revenues in the range of $25M-$27M, which at the midpoint would equal approximately 19% growth year over year.

Asure Launches Treasury Compliance Services

Retrieved on: 
Monday, November 13, 2023
National Automated Clearing House, Bank Secrecy Act, Bank, J. P. Morgan, ACH, BSA, Housing association, KYC, CIP, AML, NACHA, Customer Identification Program, Cryptocurrency, Audit, Asure Software

AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Asure (NASDAQ: ASUR), a licensed money transmitter, announces the launch of its Treasury Compliance Services specifically designed to assist regional and niche payroll providers with the stringent compliance demands related to money movement.

Key Points: 
  • AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Asure (NASDAQ: ASUR), a licensed money transmitter, announces the launch of its Treasury Compliance Services specifically designed to assist regional and niche payroll providers with the stringent compliance demands related to money movement.
  • The Treasury Compliance Services leverage Asure’s existing commercial banking and payments processing services, provided by J.P. Morgan.
  • Pat Goepel, Chairman and CEO of Asure Software, emphasizes the service's streamlined focus: "Our Treasury Compliance Services are designed to simplify the complex requirements payroll providers face in today’s regulatory environment.
  • The Treasury Compliance Services are set to be available in Q4 2023, marking a significant step in supporting payroll companies to manage their compliance needs effectively and efficiently.

RBB Bancorp Announces Appointment of Lynn Hopkins as Interim Executive Vice President and Chief Financial Officer

Retrieved on: 
Monday, December 11, 2023
Banking, Professional Services, Finance, Acquisition, Federal Deposit Insurance Corporation, Climate change, Royal Business Bank, Risk management, Interim, Financial Accounting Standards Board, CFO, Treasury, Strategic planning, Commercial bank, FDIC, Growth, Banq, Knowledge, Pandemic, Disclosure, Bank, Executive, University, LIBOR, Forecasting, Bank Secrecy Act, Update, Consumer protection, Certified Public Accountant, Insurance, Weather, Failure, Earthquake, Terrorism, SOFR, Annual report, FRB, California Department, COVID-19, London Interbank Bid Rate, SBA, Risk, Interim management, Management, Financial services, PacWest Bancorp, First Interstate Bancorp

RBB Bancorp (the “Company”, “we”, “us” or “our”) (NASDAQ: RBB) is pleased to announce the appointment of Ms. Lynn M. Hopkins as Interim Executive Vice President and Chief Financial Officer of Royal Business Bank (the “Bank”) and RBB Bancorp effective December 7, 2023.

Key Points: 
  • RBB Bancorp (the “Company”, “we”, “us” or “our”) (NASDAQ: RBB) is pleased to announce the appointment of Ms. Lynn M. Hopkins as Interim Executive Vice President and Chief Financial Officer of Royal Business Bank (the “Bank”) and RBB Bancorp effective December 7, 2023.
  • Prior to joining the Company, Ms. Hopkins held the position of Executive Vice President and Chief Financial Officer, at Banc of California, Inc., a publicly traded bank holding company with $9.3 billion in assets.
  • Ms. Hopkins also held Chief Financial Officer roles at First Choice Bancorp and Commercial Bank of California, and various executive finance and corporate leadership roles at PacWest Bancorp, California Community Bancshares and Western Bancorp.
  • David Morris, Chief Executive Officer of the Company, expressed enthusiasm for Ms. Hopkins’ appointment, stating, “We are thrilled to have Lynn join us as Interim Chief Financial Officer and look forward to her contributions to the Company.

RBB Bancorp Announces Corrections to Third Quarter Earnings Release

Retrieved on: 
Tuesday, November 14, 2023
Banking, Professional Services, Finance, Pandemic, Earthquake, Disclosure, Terrorism, Bank Secrecy Act, Royal Business Bank, Bank, SOFR, Climate change, Risk management, Federal Deposit Insurance Corporation, Financial Accounting Standards Board, Community development, Consumer Protection Act, Annual report, Bank statement, FRB, Award, LIBOR, California Department, Weather, COVID-19, FDIC, Update, Acquisition, London Interbank Bid Rate, SBA, Risk, Fire, Information, Life insurance

The Company had previously announced in its quarterly earnings release that the Company’s noninterest income for the three months ended September 30, 2023 was $7.7 million, which included the full amount of the $5.0 million Award.

Key Points: 
  • The Company had previously announced in its quarterly earnings release that the Company’s noninterest income for the three months ended September 30, 2023 was $7.7 million, which included the full amount of the $5.0 million Award.
  • The Company subsequently determined that the income recognition should be deferred and not included in noninterest income for the interim period.
  • The Company has also made available on its website, www.royalbusinessbankusa.com , an updated investor presentation reflecting the corrected third quarter earnings results, which contains certain historical and forward-looking information relating to the Company.
  • RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California.

AML RightSource Offers Support for Transaction Monitoring System Selection and Integration

Retrieved on: 
Thursday, October 26, 2023
Bank Secrecy Act, Bank, TMS, Assessment, RFP, KYC, Workflow, FCA, BSA, AML, Cryptocurrency, Audit, Retail

CLEVELAND, Oct. 26, 2023 /PRNewswire-PRWeb/ -- AML RightSource, the leading provider of Anti-Money Laundering (AML), Know Your Customer (KYC), and Bank Secrecy Act (BSA) compliance solutions, has expanded its Financial Crimes Advisory (FCA) services to financial institutions with expert support for transaction monitoring system (TMS) selection and implementation. This new offering complements AML RightSource's capabilities that help clients validate and optimize existing technology investments to improve compliance programs.

Key Points: 
  • CLEVELAND, Oct. 26, 2023 /PRNewswire-PRWeb/ -- AML RightSource , the leading provider of Anti-Money Laundering (AML), Know Your Customer (KYC), and Bank Secrecy Act (BSA) compliance solutions, has expanded its Financial Crimes Advisory (FCA) services to financial institutions with expert support for transaction monitoring system (TMS) selection and implementation.
  • "With an implementation support partner like AML RightSource, clients get years of dedicated subject matter expertise, established vendor relationships, and in-depth technical knowledge."
  • Focused solely on the challenges of financial crime compliance, AML RightSource offers consulting services, advanced technology, and boasts 4,000 employees working every day with AML compliance teams around the world.
  • This concentration and scale give AML RightSource unique insights into how compliance teams can optimize their TMS and how transaction monitoring is evolving to deliver greater performance.

RBB Bancorp Declares Quarterly Cash Dividend of $0.16 Per Share

Retrieved on: 
Thursday, October 19, 2023
Banking, Professional Services, Finance, Federal Deposit Insurance Corporation, Bank, COVID-19, Consumer protection, Insurance, FRB, Investor Protection and Securities Reform Act of 2010, Terrorism, Acquisition, Failure, Royal Business Bank, LIBOR, FDIC, Weather, Earthquake, RAM, DBO, Bank Secrecy Act, Public Company Accounting Oversight Board, Provisions of the Dodd–Frank Wall Street Reform and Consumer Protection Act, London Interbank Bid Rate, SBA, Climate change, Financial Accounting Standards Board, Risk, Pandemic, Annual report

RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share.

Key Points: 
  • RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share.
  • The dividend is payable on November 10, 2023 to common shareholders of record as of October 30, 2023.
  • RBB Bancorp is a bank holding company headquartered in Los Angeles, California.
  • As of June 30, 2023, the Company had total assets of $4.1 billion.

Mphasis, WorkFusion Partner to Transform Financial Crimes for Enterprises

Retrieved on: 
Tuesday, October 17, 2023
BSE, The Work, Partnership, BSA, KYC, AI, Bank Secrecy Act, Risk, AML, Digital, IDP, Bank, Information technology, PEAK, Cryptocurrency, Mphasis, Insurance

NEW YORK, Oct. 17, 2023 /PRNewswire/ -- Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its strategic partnership with WorkFusion, a leading provider of digital workforce solutions for banking and financial services; to power conventional teams with AI-driven Digital Workers in operational domains such as customer service, onboarding, account opening, identity verification, anti-money laundering initiatives, and various compliance tasks involving extensive document processing. 

Key Points: 
  • "We are excited to partner with WorkFusion to unlock the potential of AI-driven solutions for our clients.
  • "We were looking for a strategic partner that could help us deliver next-level services at scale, expand the reach of our professional services capabilities, and assist us in expanding our footprint in the financial services market," said Adam Famularo, CEO of WorkFusion.
  • Together, we are a powerful team that will be able to deliver AI to help businesses automate work better and faster."
  • The partnership reflects the long-term commitment of both Mphasis and WorkFusion to deliver sustainable value and drive industry transformation across AI solutions.