FISE Portal Reviews

Sacramento, CA

FISE Portal’s Enterprise Blockchain Based Software as a Service (SaaS) platform facilitates and automates compliance requirements of a traditional anti-money laundering (AML) program. The five pillars of a traditional AML program include: 1. Internal Controls 2. Independent Testing 3. Designated Compliance Officer 4. Training for Appropriate Personnel 5. Risk Based Procedures for conducting appropriate ongoing customer due diligence Since 2001, the USA PATRIOT Act (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism) Section 326 established requirements to reinforce anti-money laundering programs with corporate policies on implementing a Customer Identification Program (CIP) through Knowing Your Customer (KYC) protocol. For decades, many institutions have had to manually implement KYC protocol until recently. The utility of new technologies such as blockchain, predictive analytics, and artificial intelligence has forecasted increasing automation, organization of big data, and automated processes for business applications.