AAMGA Selects Regulatory DataCorp OFAC Compliance Solution
New York and London, (February 9, 2015) — Regulatory DataCorp, Inc. (RDC), the Trust Diligence™ leader across the Governance, Risk and Compliance industry, today announced that American Association of Managing General Agents (AAMGA) has selected the RDC OFAC Compliance solution on behalf of its membership. In this capacity, RDC will offer a web‐based onboarding OFAC Compliance solution to over 500 corporate AAMGA members of the wholesale and excess and surplus lines insurance industry.
The RDC OFAC Compliance solution will enable the AAMGA members to receive immediate screening results against RDC’s GRID database, risk‐scoring and returning alerts in real time, with an interactive view of information on the entity searched and the ability to view relevant reporting on that individual or organization. This is all provided in a simple and instantaneous tool, which is perfect for client onboarding or performing additional research.
“We are excited to have selected RDC which enables us to extend the RDC OFAC Compliance offering to all of our AAMGA members,: Bernd G. Heinze, Esq. Exexcutive Director of the AAMGA said.
“We are pleased to be selected by the AAMGA to enhance the compliance due diligence process for its members,” said Tom Obermaier, Chief Executive Officer of RDC “Working with AAMGA is a reflection of our continued dedication to transform the way the insurance industry approaches OFAC screening with an innovative, secure and efficient managed service solution.”
By combining the world’s largest, open source risk-relevant database with superior analytics, technology and services, RDC provides customers with unparalleled insight into the potential risks in their customer base and third parties globally. Working as an extension to customers’ compliance teams, RDC provides precise risk alerts and ongoing monitoring that significantly improve efficiency. These efficiency gains have allowed customers to extend compliance efforts beyond regulatory requirements to encompass business and reputation risk for enhanced protection and peace of mind.
American Association of Managing General Agents (AAMGA). The wholesale insurance community’s international trade association was founded in 1926 on the principles of integrity and professionalism. The AAMGA today represents over 500 corporate members and is respected as the leader in and voice of the wholesale and excess and surplus lines insurance industry. Its unique logo reflects the tradition and leadership of managing general agents, insurance companies, business service partners, state stamping and surplus line offices all working in concert to effect innovative insurance products and solutions for the marketplace. Membership in the AAMGA is highly selective and, therefore, the managing general agents admitted to the ranks are those who annually subscribe to a Code of Ethics and demonstrate the highest standards of excellence, experience, integrity and insurance company representation.
Regulatory DataCorp, Inc. (RDC), the Trust Diligence™ company, delivers powerful, decision-ready intelligence and world-class risk and compliance protection, allowing global organizations to identify banned/suspect entities, strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity. With the world’s largest open source risk-relevant database, RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; vendor screening and monitoring; to a wide range of clients worldwide. Learn more about RDC by emailing email@example.com or visiting www.rdc.com.