CU*BASE Enhances OFAC Scanning

Grand Rapids, MI – July 3rd, 2011
CU*BASE announced that at part of its CU*BASE 10.6 Release, it had incorporated additional OFAC scan capabilities to the system.

CU*Answers said with this release it had introduced OFAC scans on payees of corporate checks printed using its Phone Operator system. They said they have expanded the OFAC scan capability to payees of loan disbursement checks printed via the CU*BASE loan process.

Simultaneously, CU*Answers announced that CU*BASE will also run OFAC and a separate Blocked Person scan on all non-members added during per-member lending. The scans will follow new membership workflow controls and occur directly after the non-member information is entered.

CU*Answers stated these newest OFAC scan features fall on the heels of previously announced capabilities for CU*ASE clients to run independent member OFAC scans during any part of CU*BASE processing, OFAC scanning of IAT transactions, on demand OFAC scanning of the entire member and non-member data bases as may be desired.