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Posted by Robert Molloy

We continue this 10 part series with a look at what happens when you design without integration.

The approach on many projects, especially compliance projects, is “Just get it done.”

While audit findings or the threat of regulatory action sometimes compel a very short design cycle, understanding the needs of the scoring system itself is not enough.

It is critically important to understand how a customer scoring system needs to interface with other components of a comprehensive BSA/AML compliance system.

We are not advocating that all components of a comprehensive system have to be incorporated simultaneously but you should have a compliance blueprint.

Just as you wouldn’t build a house room by room without a plan, you shouldn’t build a critical component of a compliance system without one either.

Software salespersons often focus on the functionality within the system. Experienced integrators can save you significant costs and aggravation by helping you identify the integral linkages and common pitfalls before you buy and install new software.

A well-designed, integrated system can save up to 60% of the manpower needed to support the system. Moreover, a well-designed system can solve tangential issues with the same resources.

For instance, many of the customer scoring systems we have most recently designed address the tracking needs of sections 312, 313, 314[a and b in/out], subpoena, quality assurance, and MSB and OFAC registrations in the same workflow as the and OFAC/PEP screening and customer scoring investigations.