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Abrigo BAM+ description
Abrigo BAM+ is an anti-money laundering software designed for financial institutions. It provides a centralized system to manage various aspects of an anti-money laundering program, including case management, risk analysis, fraud detection, and regulatory reporting. Abrigo BAM+ aims to help financial institutions of all sizes streamline their compliance processes, improve efficiency, and reduce their risk of financial crime. They are a well-regarded provider in the industry, partnering with over 2,400 financial institutions.
Who is Abrigo BAM+ best for
Abrigo BAM+ delivers a centralized AML system tailored for financial institutions. We find that its case management, risk analysis, and fraud detection tools are particularly useful. From our experience, the direct FinCEN filing and customizable workflows streamline compliance, no matter the institution's size. Users appreciate the user-friendly interface, but some report slow customer support response times.
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Best for institutions of any size seeking adaptable AML compliance, from small credit unions to large banks.
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Perfect for finance, banking, and insurance firms needing robust AML and BSA regulatory compliance.
Abrigo BAM+ features
Supported Data Validation: Data Validation: Ensures that customer and transaction data is correctly fed into the AML case management system. |
Supported Direct File to FinCEN: Direct File to FinCEN: Enables direct filing of CTR and SAR batches to FinCEN, saving time and streamlining reporting. |
Supported Automated Risk Rating: Automated Risk Rating: Allows customization of risk tolerances and their automatic application across the BSA program. |
Supported Advanced Reporting: Advanced Reporting: Harnesses and combines data to provide valuable insights and a broader perspective on the AML program. |
Supported Watch List Management: Watch List Management: Enables efficient management and screening against various watch lists, including OFAC, PEP, and internal lists. |
Supported Case Management: Case Management: Provides a centralized platform for managing and resolving AML cases, including investigation, documentation, and reporting. |
Supported Configurable Workflows: Configurable Workflows: Allows customization of workflows and processes to align with specific institutional requirements and risk profiles. |
Supported Currency Transaction Reporting (CTR): Currency Transaction Reporting (CTR): Automates the process of generating and filing CTRs for cash transactions exceeding regulatory thresholds. |
We evaluate the sentiment that users express about non-functional aspects of the software
Customer Service
Ease of Use
Reliability and Performance
Abrigo BAM+ reviews
We've summarised 37 Abrigo BAM+ reviews (Abrigo BAM+ G2 reviews) and summarised the main points below.
- User-friendly interface and easy navigation.
- Comprehensive alert system for fraud detection.
- Excellent customer support and training resources.
- Direct CTR and SAR filing capabilities.
- Robust reporting features and data accessibility.
- Slow customer support response times for case resolution.
- OFAC screening does not meet auditor standards.
- Limited customization for user roles and permissions.
- Difficulty integrating DDM with RBRR/Risk module.
- Overly inclusive sanctions screening, limited tailoring options.
Abrigo BAM+ alternatives
Experian Aperture Data StudioCleans, enriches, and transforms customer data for accurate insights.Read more
Abrigo BAM+ FAQ
We find that Abrigo BAM+ offers a centralized system for financial institutions to manage their anti-money laundering programs. It helps streamline compliance, improve efficiency, and mitigate financial crime risks through features like case management, risk analysis, and regulatory reporting.
What is Abrigo BAM+ and what does Abrigo BAM+ do?
We find that Abrigo BAM+ offers a centralized system for financial institutions to manage their anti-money laundering programs. It helps streamline compliance, improve efficiency, and mitigate financial crime risks through features like case management, risk analysis, and regulatory reporting.
We find Abrigo BAM+ offers direct file to FinCEN, streamlining regulatory reporting. While it doesn't list specific integrations, its configurable workflows suggest adaptability to existing systems. However, some users have reported difficulties integrating specific modules.
How does Abrigo BAM+ integrate with other tools?
We find Abrigo BAM+ offers direct file to FinCEN, streamlining regulatory reporting. While it doesn't list specific integrations, its configurable workflows suggest adaptability to existing systems. However, some users have reported difficulties integrating specific modules.
We find that Actimize AML Essentials is a direct competitor, focusing on AML compliance for mid-sized US banks. Other alternatives, like BusinessIQ and TLOxp, offer risk management solutions but aren't exclusively for AML. Experian Aperture Data Studio focuses on data quality, while NexusPayables targets real estate payables.
What the main competitors of Abrigo BAM+?
We find that Actimize AML Essentials is a direct competitor, focusing on AML compliance for mid-sized US banks. Other alternatives, like BusinessIQ and TLOxp, offer risk management solutions but aren't exclusively for AML. Experian Aperture Data Studio focuses on data quality, while NexusPayables targets real estate payables.
Yes, Abrigo BAM+ is a legitimate anti-money laundering (AML) software solution used by over 2,400 financial institutions. However, user reviews mention some negative aspects regarding customer support, OFAC screening, and limited customization options. We recommend researching these points before committing.
Is Abrigo BAM+ legit?
Yes, Abrigo BAM+ is a legitimate anti-money laundering (AML) software solution used by over 2,400 financial institutions. However, user reviews mention some negative aspects regarding customer support, OFAC screening, and limited customization options. We recommend researching these points before committing.
I am sorry, but we don't have pricing information for Abrigo BAM+ at this time. Contact Abrigo directly for the latest pricing details and to determine if BAM+ is the right fit for your needs.
How much does Abrigo BAM+ cost?
I am sorry, but we don't have pricing information for Abrigo BAM+ at this time. Contact Abrigo directly for the latest pricing details and to determine if BAM+ is the right fit for your needs.
Customer reviews on Abrigo BAM+ are mixed. While many appreciate the user-friendly interface and helpful training resources, some have experienced slow response times from customer support when resolving cases. Others mention excellent customer support, so your mileage may vary.
Is Abrigo BAM+ customer service good?
Customer reviews on Abrigo BAM+ are mixed. While many appreciate the user-friendly interface and helpful training resources, some have experienced slow response times from customer support when resolving cases. Others mention excellent customer support, so your mileage may vary.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.
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