Idola - Aegis an OFAC solution for IAT

Aegis 1.0

Overview

Aegis is the only comprehensive middleware solution that would be required within a financial institution to monitor, screen, reconcile, audit and generate reports on all ACH transactions. Aegis's architecture allows financial institutions to integrate with their preferred OFAC solution. It is designed to intercept all incoming and outgoing ACH transactions and identify the type of transactions before routing and screening these transactions.

Click here to download the detailed Aegis Product Description

Aegis Core Engine

The architecture of Aegis is based on a Service Oriented Architecture

ACH Viewer
- View ACH (domestic and International) Messages in a user friendly format with respective labels for each field
- Proper formatting of Date, Currency and Country Lookup

ACH Parsing
- The core engine of the product
- Parses the ACH message and splits the message into multiple transactions

OFAC Screening Interface
- Split Mode Operation
- Highlight Mode Operation
- "Re-Packaging" of IAT Transactions

ACH Conversion Utilities
- ACH to Excel, CSV, XML

Exception Handling
- Detailed and automatic exception handling

Reports

Reconciliation
- End of Day reconciliation on messages received versus message scanned and forwarded.

Audit Trail and Reports
- Details audit trails of all incoming and outgoing messages, messages sent and response received from the OFAC screening application
- Management and summary reports based on date ranges.

Benefits

Automated, Reliable and Quick processing of transactions
Easily scalable to meet the growing needs of the Financial Institutions
Highly customizable and plug and play architecture enabling integration with any payment or OFAC Screening systems
No disruption to straight through processing rates for transaction without OFAC risk

Comprehensive audit trails to demonstrate compliance due diligence
Improve operational efficiency
Low upfront cost for setup and operations
Provide Dashboard reports for senior management