CaseWare RCM, a provider of compliance and financial crime prevention solutions, is pleased to announce that Grasshopper Bank has selected Alessa with Thomson Reuters CLEAR ID Confirm and Refinitiv World-Check to meet its know your customer (KYC), customer identification program (CIP), sanctions and watch list screening, transaction monitoring and regulatory reporting obligations of its anti-money laundering (AML) compliance program.
Grasshopper Bank is a nationally chartered digital commercial bank for the innovation economy, supporting entrepreneurs, their companies and the venture capital firms that fund such companies.
“We are an innovative bank that is disrupting business banking,” said Grasshopper Bank’s Sally Myers, Chief Risk Officer. “The decision to use Alessa stems from our commitment to deliver a true digital banking experience for our clients while still building an effective compliance program to prevent money laundering or the financing of terrorist activities.”
According to Andrew Simpson, Chief Operating Officer at CaseWare RCM, Grasshopper Bank was looking for a comprehensive, cloud-based AML solution that could offer identity verification, sanctions and watch lists screening, transaction monitoring and SAR/CTR reporting to FinCEN.
“Since Alessa has invested in a number of integrations to complement its core AML capabilities, it is able to provide services like identity verification with Thomson Reuters CLEAR ID Confirm and screening and due diligence with Refinitiv World-Check as part of its offering – all in the Microsoft Azure cloud.”
Alessa is trusted by banks, MSBs and fintechs to meet their anti-money laundering and other regulatory and compliance needs. Alessa is consistently chosen because it is a versatile and modular solution that easily integrates with existing infrastructure, and scales with organizations as their size and needs grow.
