We believe the key to financial access for higher-risk legal businesses and individuals is by providing expert guidance and efficient technology solutions to reduce the operational burdens of BSA and the back office; empowering financial institutions to support even the most complex relationships.
Built for bankers by bankers, regulators,
technologists, and fintech professionals
Grow Your Non-Interest Income
and Customer Portfolio
RiskScout empowers you to say YES to locally-owned entrepreneurs who have been unable to establish a financial service relationship in their community. Our enterprise-level solutions help you navigate through the dynamic terrain to make the burden of compliance easier.
Our Premier Partners include:
We Help You Serve the Businesses and Individuals
That Can’t Find Institutions
RiskScout’s commercial BSA platform helps financial institutions streamline the compliance burden of banking “higher-risk” markets by automating onboarding and ongoing compliance activities.
There’s a momentum occurring in the high-risk, specialty banking sector that has created an opportunity for community focused financial institutions. Heavy compliance burdens have left many working entrepreneurs without the financial services they need to run and grow their business. We help institutions approve high-risk legal businesses who can’t find a financial institution.
Scalable Market Growth
By adopting a forward-looking approach to high-risk customer account management, financial institutions can remove the obstacles that prevent them from exploring higher-risk markets. RiskScout’s world-class compliance banking program allows institutions to boost growth in high-risk markets while minimizing the time, cost, and risk required to manage, audit, and monitor compliance.
Compliance Staffing Extension
With scarcity of BSA professionals in the financial services sector, and many institutions running under a small seasoned staff, it’s no surprise that instititutions struggle to manage the complexities of regulatory compliance. Each regulation results in a multitude of actions that need to be taken. Frequency tracking, documentation due diligence, and inherent actions can become overwhelming. RiskScout expands your existing compliance staff through streamlined workflows, centralized due diligence, and ongoing monitoring.
Audit management is key to a successful compliance program. RiskScout simplifies workflows and empowers institutions to streamline their inspections, observations, and the corrective action follow-up often required with higher-risk businesses. It allows your compliance staff to access detailed insights and make clear actionable decisions quickly and efficiently.
What would you do with
100s of new businesses customers
and $50M in new deposits?
Our four-step process enables banks and credit unions to manage, monitor, and safely onboard higher-risk businesses to profitably grow their non-interest income and overall customer portfolio.
Evaluate & Decide on New Markets
• Perform risk assessment
• Pick your markets & products
• Obtain your board’s approval
Scale Your Growth
• Market and promote the program
• Screen & onboard new businesses
• Efficiently scale the compliance
• Turn on workflows that align with
your program’s requirements
• Upsell your existing products &
services to increase profitability
Strengthen & Build
• Define controls
• Build automation workflows
• Determine your staffing needs
Hear From Our Clients
"Our bank is experiencing tremendous growth thanks to our emerging market programs, and we're processing it all seamlessly because of the automated onboarding and due diligence solutions with RiskScout. Increasing deposits and gaining market share, without increasing BSA Officer head count is how we scale our program!"
EVP & COO