State Employees Credit Union (SECU) has selected ATTUS Technologies and its market leading WatchDOG® Pro to fulfill its OFAC and USA PATRIOT Act compliance requirements.
With $18.4 billion in assets, North Carolina based SECU offers a wide range of financial services to its members as the second largest credit union in the United States. The three year agreement with ATTUS gives SECU's data processing center access to WatchDOG® Pro and its ability to simultaneously cross check their entire database or a single person or entity against multiple watch lists. It will also allow them to seamlessly handle OFAC scans of complex International ACH Transactions (IATs).
According to Rick Rhoads, Senior Vice President of E-Services at SECU, "We needed a solution that provided OFAC screening on our IATs. We have been using WatchDOG® for several years for our OFAC screening of wire transfers and previously had used a different solution for our whole portfolio screens. Our goal was to find a single solution that could address all of our watch list screening needs."
"We are so pleased to be partnering with SECU," said Tom Fedell, president and CEO of ATTUS. "I believe our continual efforts to ensure WatchDOG® Pro is the most cutting edge option for watch list compliance was one of the deciding factors in their choice." The product's advanced search algorithm can distinguish even subtle details such as initials and abbreviations to provide more precise results and fewer false positives.
"Like most credit unions, SECU handles thousands of transactions a day. Not only do they need a watch list solution they can count on, they need people they can count on," added Fedell. "With ATTUS, I know that our commitment to personalized customer service and support will be as important to SECU as the functionality of WatchDOG® Pro."
Rhoads agreed. "After an extensive review, we determined that ATTUS had the best solution. We are very pleased with the product and the services provided by ATTUS."
As a third-party service provider of compliance solutions and services, ATTUS takes its responsibility to keep clients' data confidential and secure verysecure very seriously. The company is a voluntary participant in SAS 70 and a Type II certified provider, as attested by Crowe Horwath, LLP.