CU*Answers released a new feature in October 2012 to CU*BASE, its flagship core data processing system, designed to uncover suspicious or anomalous cross channel activity.  This feature was originally designed to meet the requirements of the FFIEC guidance letter published in July of 2011 which relates to the monitoring of high risk transactions through internet channels.

Jim Vilker, head of the AuditLink division of CU*Answer Management Services, stated that “the feature started as a reaction to the FFIEC guidance but during its design stage it was revised to uncover activity across all member transaction channels. He went on to say that “what is vital to this software’s success is the analytical tools which derive normal member activity.”  The software allows credit unions to dial in on high risk activity based upon normal use patterns for the member themselves as well as the membership as a whole.

“We took it to whole new level to not only include the ability to use cross-channel parameters but then also included the ability to configure those transaction types which would uncover elderly abuse as well.”   AuditLink offers to configure Abnormal Activity Monitoring as a “Just Turn It On” service.  To date, they have configured the product for eight credit unions as well as assisting many other credit unions with their configurations.