Abrigo Anti-money Laundering Reviews & Product Details

I have been in banking for over 26 years and have worked in BSA/Security for most of them. Purchasing BAM+ was one of the best decisions our BSA department made. BAM+ is user-friendly and has improved our BSA program's efficiency and quality. In addition, the Abrigo support staff is friendly, knowledgeable, and quick to resolve any issues. Abrigo is constantly improving their products, actively looking for and listening to feedback from their clients. Initially, we hosted the software in-house. We transitioned to hosting in their data center a few years ago, making releases, maintenance, support, etc., much easier for our BSA and IT staff. we have contracted with Abrigo to perform a couple program optimizations as well. The consultants were able to recommend and assist with the implementation of changes that reduced false positives while improving our program effectiveness. BAM+ is an affordable quality solution, and I would recommend this product to any financial institution. Review collected by and hosted on G2.com.

I have not run across anything I dislike. Review collected by and hosted on G2.com.

I like how easy Abrigo BAM+ is to use. If there are issues, support is quick to help and resolve them. I also appreciate how simple and convenient it is to file CTRs. It puts all the information together for you to review in one location and lets you send them with a convenient click of a mouse instead of navigating the FinCEN website. Hannakah is truly amazing and a great teacher to guide you through the ins and outs of the program. Review collected by and hosted on G2.com.

It's just a learning process, there's so much this program can do and you have to just learn a little bit at a time. Review collected by and hosted on G2.com.

The automation is highly reliable and intuitively designed, making it easy to navigate. I value the system's ability to seamlessly track suspicious activity from the initial front-line report through to regulatory filing. Furthermore, the ease and flexibility of risk-rating accounts allows for strategic risk management. Review collected by and hosted on G2.com.

I have noticed that my main frustrations stem from the limitations of our core processor, which prevent us from sending certain information necessary for faster data analysis. While I find the statistical management report to be a valuable tool, I initially struggled to understand it, particularly when attempting to use it to justify scenario updates. Review collected by and hosted on G2.com.

I appreciate the competitive pricing of Abrigo BAM+, which influenced my decision to switch from another vendor. The setup process was straightforward and easy to follow, enhancing the initial adoption experience for me. Abrigo BAM+ has been significantly beneficial in managing alerts and filing Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), making these processes much easier compared to prior software I have used. The ease of use is a standout feature, contributing greatly to an efficient workflow and making me inclined to purchase the software again. Review collected by and hosted on G2.com.

I feel that the pricing of Abrigo BAM+ is a drawback, as I would prefer it to be cheaper. Review collected by and hosted on G2.com.

Very robust system that you can utilize as much or as little as you want to fit your organization. Review collected by and hosted on G2.com.

Some areas are technical such as data import trouble shooting and parameter changes. Review collected by and hosted on G2.com.

The technology stack is next level. (BAM+) They also have a great support team and work hard to produce product enhancements that help all customers. Review collected by and hosted on G2.com.

Implementation is a bit of a hassle but once completed the system and processes run very smoothly. Speaking to BAM+. Review collected by and hosted on G2.com.

That it is a one-stop shop for our BSA needs. We’re able to process CTR’s, SAR’s, 314(a), OFAC, alerts, CDD, EDD, BO, HRR’s, and more all within the BAM+ suite using their various modules. Review collected by and hosted on G2.com.

The 314(a) screening could be better. Even though we select the parameters for the customer scan to be within the past 12 months, the system goes back further and looks at old customers who haven’t been customer for 1+ years or more too, which causes extra matches we have to investigate. Review collected by and hosted on G2.com.

I find that BAM+ is very user friendly and easy to navigate. Using all of the modules allows us to create a comprehensive customer profile, whether it's Alerts, DDM, CTR, SAR, or one of many data-rich reports. Review collected by and hosted on G2.com.

I feel that BAM+ could utilize AI more, integrating it into the Scenario/Alerts framework. Review collected by and hosted on G2.com.

Bam+ was able to streamline and eliminate some of our manual processes.

Capabilities of wire transfers and monetary instruments feeding in eliminated our need for additional manual processes for retention and suspicious activity monitoring.

We have had other software vendors previously but Bam+ has proved to be more user friendly and efficient for our institution.

Implementation was smooth and we had weekly check-ins with our customer support representative to discuss any issues we had identified and address any concerns. Review collected by and hosted on G2.com.

There was a learning curve but it's manageable. Review collected by and hosted on G2.com.

Scenarios (able to fine-tune it), Risk Rating, and DDM Review collected by and hosted on G2.com.

The scenarios are not able to learn the counterparties Review collected by and hosted on G2.com.