Overview

Bank account management can be a challenge for large organizations, especially for multi-national companies and those with de-centralized treasuries. Loose controls expose you to fraud, loss and significant compliance risks.

Weiland BAweb from Fiserv satisfies a core component of any mid- to large-sized company’s compliance strategy by streamlining the management of your bank, account, legal entity and signatory details. By using the latest SWIFT^® electronic bank account management (eBAM) capabilities to electronically exchange conversations with your banking partners, you can complete account openings, modifications and closings in just hours instead of weeks, while enhancing security, accuracy and control.

The browser-based Weiland BAweb solution uses a single consolidated, relational database to help you monitor your entire bank account inventory, including the actions of staff members who have authority over those accounts. The system is fully customizable, ensuring that all data elements used by your company have a home using your terminology and your rules.

Weiland BAweb has a built-in business process management engine, allowing you to customize your internal controls process over opening, updating and closing accounts, reducing risk and increasing compliance. The business process management module, in conjunction with fully customizable security and audit tools, allows you to establish solid proactive and reactive controls around all your bank and account relationships to mitigate risk, increase productivity and ensure compliance.

Features

• Streamlined signatory management: Weiland BAweb systematically relates bank accounts, bank agreements, signatories, signatory limits and authorities with each parent company or subsidiary. You can dynamically view and update information in real-time, perform customizable reporting and export reports to spreadsheets for further review
• Automation via eBAM: eBAM standardizes and automates bank account management across all of your financial institutions, closing risky gaps that can exist between a company and its banking partners. With standard messages for opening, updating and closing accounts, eBAM enables you to exchange requests and information with banks quickly over the highly secure SWIFT network
• Business Process Management (BPM): Weiland BAweb uses rules-based BPM to eliminate the guesswork that can plague bank relationship management. Simply define a process, then assign, coordinate and implement tasks, and track and report on their progress through to completion
• Import/export to other data sources: Weiland BAweb has powerful import and export tools, allowing it to function as the central authority over your bank accounts and relationships. You can import feeds from your HR system or ERP system to take appropriate actions as situations arise as well as export data to downstream systems to keep them synced with your inventory of accounts