Customer and Account Change Management (CACHM)
Streamline CIP Compliance with Confidence
CACHM is BankWise Technology’s innovative module designed to simplify and enhance Customer Identification Program (CIP) compliance for financial institutions. Built to integrate seamlessly with your core system, CACHM ensures that your institution remains compliant while delivering efficient and accurate tracking of customer and account changes.
How CACHM Works
CACHM centralizes and automates the process of managing customer information changes, ensuring that all updates adhere to regulatory standards. By integrating CIP requirements into a streamlined workflow, CACHM helps your institution:
- Detect Account Changes: Automatically identifies account changes in your core, such as new accounts or customers, dormancy changes, and ownership updates.
- Assign Validation Sequences: For each detected change, CACHM can assign a validation sequence to check for specific core fields, such as ID, Tax ID, addresses, phone numbers, and more.
- Ensure Required Documentation: Verifies the presence of necessary documents, including account agreements, corporate resolutions, and other key paperwork.
- Track and Store Changes: Maintains a complete audit trail of all account changes, ensuring transparency and compliance during internal and external audits.
Features and Benefits
Comprehensive Information Management
CACHM ensures that all required customer data is collected, verified, and validated for every account change. Whether it’s a simple address update or a more complex ownership modification, CACHM provides tools to streamline the process.
Automated Verification Tools
With CACHM, validation of account changes is faster and more reliable. The module integrates with FIS Horizon core to detect changes and perform automated checks against key fields and required documentation.
Audit-Ready Documentation
CACHM creates detailed logs of all user interactions and account changes, simplifying the process of internal reviews and external audits.
Why Choose CACHM?
Simplified Compliance
CACHM automates complex CIP requirements, reducing the administrative burden on your team while minimizing the risk of non-compliance.
Enhanced Efficiency
By integrating CIP compliance into a single, intuitive module, CACHM improves operational efficiency and reduces errors associated with manual data entry and verification.
Seamless Integration
Like all Happy Banker modules, CACHM is designed to integrate smoothly with your core, leveraging APIs to access and verify information directly in the core, avoiding separate extracts or storing information in multiple places.
Bank-Centric Approach
CACHM enhances employee satisfaction by enabling faster and more accurate CIP information tracking, streamlining workflows, and improving collaboration across departments.
Get Started with CACHM
Ensure CIP compliance and improve operational efficiency with CACHM. Contact BankWise Technology today to schedule a demo and see how CACHM can transform your customer account management processes. Contact us to learn more or schedule a demo today.