Compliance for credit unions
Beam minimizes your risk of large penalties and bad publicity for substantially less cost

Same requirements, but fewer resources

Credit unions face a unique set of challenges when it comes to meeting their regulatory obligations. They are often held to the same set of standards as their larger counterparts, which include global, national, and large regional financial services companies. But credit unions typically operate with significantly fewer resources in areas such as compliance, operations, and technology. With increased regulatory scrutiny, plus competitive pressure from larger banks and emerging fintechs, these smaller organizations can’t keep up.

FinCEN Makes Small Texas Bank Pay Big Fine for AML Violations

More real cases. A lot less noise.

Red flags can often be more clearly identified when a pattern of activity is present, rather than an individual alert. Using state-of-the-art machine learning, Beam’s superior detection software analyzes hundreds of factors about all of your financial transactions to adaptively search for abnormal trends and activity.

Beam’s models take the results of analysts’ investigations in a feedback loop to continually learn from new findings, leading to up to 90% fewer false positives.

The power of social intelligence

Beam uses online sources to enrich your data and flag suspicious activity. For example, if a member is applying for a loan, Beam will ensure that the loan amount isn’t greater than the value of the home, that the member’s stated income is typical for their profession, and that their stated profession matches their profile on their social media accounts.

Keep what works

Credit unions can dramatically enhance their current compliance solutions by integrating Beam into their existing algorithms, rule sets, and systems without complete software replacement. The Beam Data Ingestion module allows you to send your data through the Beam solution and start increasing your productivity fast.

Fight crime, not software

Beam’s solution was designed by compliance experts to provide an intuitive, easy-to-use dashboard that streamlines AML transaction monitoring. Beam’s powerful tools help your team investigate more effectively with intelligent data aggregation and a collaborative workflow, significantly reducing case review time. The result is a comprehensive suite that combines transaction monitoring, investigation, and filing of suspicious activity reports (SARs) in a single, unified package.

Best for your budget and peace of mind

Compliance officers have a major responsibility to protect their firms from the expense and reputational damage associated with processing bad transactions, but they also face pressure to minimize costs. With our best-in-class, cloud-based compliance software, you don’t have to choose between quality and savings. Beam provides the best solution for minimizing your risk of large penalties and bad publicity at a substantially lower price.