Credit unions sign for Wolters Kluwer Patriot Act Web tool

Source: Wolters Kluwer Financial Services

Wolters Kluwer Financial Services announced four more credit unions have chosen the company's automated, risk-based member identification solution.

Wiz Sentri: RiskID (formerly known as the company's PATRIOT Act Connection) is a web-based tool that helps credit unions meet the "Customer" Identification Program and record retention requirements of the USA PATRIOT Act.

The addition of these four credit union clients demonstrates Wolters Kluwer Financial Services' continued commitment to helping credit unions combat identity theft, money laundering, and terrorism through the company's line of Wiz Sentri financial intelligence solutions and services.

The additional credit union clients include Coastal Community Federal Credit Union, Galveston, Texas; Leaders Credit Union, Jackson, Tennessee; Millard County Credit Union, Fillmore, Utah; and Mitchell Area Federal Credit Union, Mitchell, South Dakota.

Rita McCaslin, executive vice president of Leaders Credit Union, said the ability to integrate Leaders' "Customer" Identification Program into its deposit work flow was a deciding factor when choosing Wiz Sentri: RiskID.
The solution can be integrated with the ARTA Deposit System, another automated solution from Wolters Kluwer Financial Services that Leaders uses to open deposit accounts.

"Leaders wants to do everything it can to protect itself and its members from identity theft," McCaslin said. "But we also want to make sure identity verification is a quick and easy process that doesn't stand in the way of the credit union serving its members. Integrating the Wiz Sentri: RiskID solution with the ARTA Deposit solution gave us the best of both worlds. By sharing new member information between the two systems, we were able to reduce the amount of data entered, the time it took to enter it, and improve upon the accuracy of that data."

"Credit unions realize failing to comply with the Bank Secrecy Act and USA PATRIOT Act could substantially impact their bottom line and reputation with members," said Sue Pogatschnik, credit union market manager for Wolters Kluwer Financial Services. "Wolters Kluwer Financial Services has worked with industry experts and regulators to make its Wiz Sentri solutions and services help credit unions remain compliant yet continue to grow and better serve their members."

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