ABA Banking Journal - November/December 2016 - 45


improving the quality of our filings. Our
narratives are much more detailed,
which gives law enforcement what they
need to apply their expertise to the
underlying suspicious activity."

That is why information sharing
and collaboration amongst financial
institutions is no longer a luxury. In
today's environment, it is essential.

The value of collaboration
In a 2016 Verafin survey of AML/Bank
Secrecy Act compliance professionals
on the topic of cross-institutional
information sharing, more than
two-thirds of active collaborators
believed information sharing helped
them resolve investigations more
quickly. Three quarters agreed that
collaboration helped them make better
investigative decisions, and more than
eight in 10 said collaborating helps
uncover valuable information they
otherwise would not know.

These sentiments are echoed by
Richard Jordan, AVP for BSA and
security at Winchester Savings Bank in
Winchester, Mass. "In order to combat
money laundering and other financial

When asked about the impact of
cross-institutional collaboration for
her bank, Robertson is unequivocal
about how these improvements have
improved South State's investigative
process and the information the bank
can provide to law enforcement. "It
helps us avoid spending time on activity
that is ultimately legitimate. We've
eliminated unnecessary reporting while

A retired police officer of 22 years,
Jordan has unique insight into
the value improved information
quality can have in the hands of
law enforcement. "Being able to
reach out to other banks and learn
more about your customer's activity

"These guys didn't just
bring the best banking
solutions to the table,
they brought the knowhow to do what I needed."

With emerging software technology
facilitating collaboration among banks
and making it easier than ever before,
the benefits available to financial crime
investigators and their institutions are
substantial. Information sharing gives
banks the means to uncover higher
quality customer information while
simultaneously reducing time lost
on unnecessary investigations into
unusual activity.
"It lets us put the pieces of the puzzle
together and move forward quickly,"
says Rebecca Robertson, SVP and
director of AML compliance at South
State Bank in Columbia, S.C. "We don't
have to sit and ponder something.
It removes the unknown when we
can reach out to another institution,
clears up any confusion, and we stop
spinning our wheels."

crime you need [to collaborate with
other banks]-you can't be out there
by yourself."

the power of experience

®

When it comes to working with the complex regulations and requirements in the financial industry,
experience makes all the difference. Our Red Hawk Fire & Security team is comprised of talented
veterans who understand the industry and can create exactly what you need. Put the Red Hawk
Power of Experience to work for you today. RedHawkUS.com | 888-991-0117

We deliver:
* CSAA Five-Diamond Monitoring * Integrated Electronic Solutions
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©2016 Red Hawk Fire & Security | info@RedHawkUS.com

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Table of Contents for the Digital Edition of ABA Banking Journal - November/December 2016

Chairman’s View
Upfront
Picture This
Banking’s ‘Amazon Moment’
Special Report on Innovation and Technology
Building an ‘Internet of Value’
Do You Do What the Data Tell You?
Innovation in the Bank
Core Exercises
Cover Story Pillar of Her Community
Maintaining a Commitment to Ag Customers
Who You Gonna Call?
Anti-Money Laundering
Power Up Profile
Compliance ‘When Can I Call My Customer?’
Risk Management
ABA Compliance Center Inbox
From the States
Corporate Social Responsibility
Index of Advertisers
ABA Banking Journal - November/December 2016 - bellyband1
ABA Banking Journal - November/December 2016 - bellyband2
ABA Banking Journal - November/December 2016 - cover1
ABA Banking Journal - November/December 2016 - cover2
ABA Banking Journal - November/December 2016 - 3
ABA Banking Journal - November/December 2016 - 4
ABA Banking Journal - November/December 2016 - 5
ABA Banking Journal - November/December 2016 - 6
ABA Banking Journal - November/December 2016 - 7
ABA Banking Journal - November/December 2016 - Chairman’s View
ABA Banking Journal - November/December 2016 - 9
ABA Banking Journal - November/December 2016 - 10
ABA Banking Journal - November/December 2016 - Upfront
ABA Banking Journal - November/December 2016 - 12
ABA Banking Journal - November/December 2016 - 13
ABA Banking Journal - November/December 2016 - 14
ABA Banking Journal - November/December 2016 - 15
ABA Banking Journal - November/December 2016 - Picture This
ABA Banking Journal - November/December 2016 - 17
ABA Banking Journal - November/December 2016 - 18
ABA Banking Journal - November/December 2016 - 19
ABA Banking Journal - November/December 2016 - Special Report on Innovation and Technology
ABA Banking Journal - November/December 2016 - 21
ABA Banking Journal - November/December 2016 - 22
ABA Banking Journal - November/December 2016 - Building an ‘Internet of Value’
ABA Banking Journal - November/December 2016 - 24
ABA Banking Journal - November/December 2016 - 25
ABA Banking Journal - November/December 2016 - Do You Do What the Data Tell You?
ABA Banking Journal - November/December 2016 - 27
ABA Banking Journal - November/December 2016 - insert1
ABA Banking Journal - November/December 2016 - insert2
ABA Banking Journal - November/December 2016 - Innovation in the Bank
ABA Banking Journal - November/December 2016 - 29
ABA Banking Journal - November/December 2016 - 30
ABA Banking Journal - November/December 2016 - Core Exercises
ABA Banking Journal - November/December 2016 - Cover Story Pillar of Her Community
ABA Banking Journal - November/December 2016 - 33
ABA Banking Journal - November/December 2016 - 34
ABA Banking Journal - November/December 2016 - 35
ABA Banking Journal - November/December 2016 - 36
ABA Banking Journal - November/December 2016 - 37
ABA Banking Journal - November/December 2016 - Maintaining a Commitment to Ag Customers
ABA Banking Journal - November/December 2016 - 39
ABA Banking Journal - November/December 2016 - 40
ABA Banking Journal - November/December 2016 - Who You Gonna Call?
ABA Banking Journal - November/December 2016 - 42
ABA Banking Journal - November/December 2016 - 43
ABA Banking Journal - November/December 2016 - Anti-Money Laundering
ABA Banking Journal - November/December 2016 - 45
ABA Banking Journal - November/December 2016 - 46
ABA Banking Journal - November/December 2016 - Power Up Profile
ABA Banking Journal - November/December 2016 - 48
ABA Banking Journal - November/December 2016 - Compliance ‘When Can I Call My Customer?’
ABA Banking Journal - November/December 2016 - 50
ABA Banking Journal - November/December 2016 - Risk Management
ABA Banking Journal - November/December 2016 - ABA Compliance Center Inbox
ABA Banking Journal - November/December 2016 - 53
ABA Banking Journal - November/December 2016 - 54
ABA Banking Journal - November/December 2016 - From the States
ABA Banking Journal - November/December 2016 - 56
ABA Banking Journal - November/December 2016 - Corporate Social Responsibility
ABA Banking Journal - November/December 2016 - Index of Advertisers
ABA Banking Journal - November/December 2016 - cover3
ABA Banking Journal - November/December 2016 - cover4
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