5.6.7 Using Correspondent Bank Tab

About Correspondent Bank Tab

The Correspondent Bank tab allows us to perform detailed analysis of correspondent banks associated with the case to determine case resolution. The Correspondent Bank tab has the following sections:
  • Correspondent Bank List: details the list of correspondent banks associated with the selected case.
  • Correspondent Bank Details: provides complete information of the selected correspondent bank.
The following tasks are performed using the Correspondent Bank tab:
  • View and analyze the list of the correspondent bank that is associated with the case
  • Associate new correspondent banks with the case
  • Disassociate or modify existing correspondent banks
  • View and analyze the complete details of each correspondent bank
  • Designate as an involved party
  • Retrieve the latest correspondent bank details in Current Information window
  • Add, modify, and remove accounts and watch list members associated with the correspondent bank
  • View and analyze the risk information and peer groups associated with the correspondent bank

Managing Correspondent Bank List

The Correspondent Bank List section allows you to view the list of correspondent banks associated with the selected case. This section also allows you to perform the following activities:

Managing Correspondent Bank Details

This section allows you to view and analyze the complete details of the selected correspondent bank.

Viewing Account Details

The Accounts section lists all accounts that are held by the selected correspondent bank. This section displays the detailed information of the account such as Account ID, Account Type, and Account Open Date.

Managing Account

You can add additional accounts to the correspondent bank or remove existing accounts.

Note:

While associating a new account to the correspondent bank for the current case, only those accounts that are part of the case and are available in the Account tab of the case can be associated. If accounts to be associated with the correspondent bank are not associated with the case then they should first be added to the case through Add action in the list of business entities section of the Account tab. For more information, see Managing Business Entity List.

To add, modify, and remove the account, see Managing Business Entity List.

To add a new account, select the account ID from the drop-down list in the Account window.

Viewing Risk Information

This section displays the value of various risks associated with the selected correspondent bank.

Managing Risk List Memberships

This section displays the watch lists associated with the selected correspondent bank. You can map additional watch lists to the correspondent bank and modify or remove the existing watch lists.

To add more watch lists to the correspondent bank, see Adding New Watch Lists. Additionally, you need enter the matched name information.

To modify or remove the existing watch lists records, see Managing Business Entity Records.

Viewing Correspondent Bank Peer Groups

The Peer Groups section displays a summary of the transactional activity for the peer groups associated with the selected correspondent bank. Summaries are displayed on a monthly basis for the five months previous to the date of last transaction performed from the selected correspondent bank. If you click the Correspondent Bank ID link on the summary section, the summary for the last thirteen months is displayed in a window.

Note:

You cannot add, modify, or remove the Summary information of the Correspondent Bank and its Peer Groups.

Viewing Summary

The Summary section displays a summary of transactional activities of the selected correspondent bank. The Summary display on a monthly basis for the thirteen months previous to the date of last transaction performed from the selected correspondent bank.