TOPIC: BSA/AML

Casino definition and Non-Bank Financial Institution

Employee at a bank ($1.6BUSA)

At one point, our bank researched the definition of casino to determine if a business is considered a NBFI if they only have video lottery and we found the answer to be No. We are questioning the logic again but cannot find anything concrete to define 'casino' in regards to NBFi status. Can anyone document the true definition of casino in relation to NBFI and advise if a business only has video lottery, does that make them a NBFI?

    Banker's Toolbox + MST + Sageworks are now Abrigo

    Employee at a Company (USA)

    Banker’s Toolbox, which acquired MainStreet Technologies (MST) and Sageworks in 2018, announced today that we are now Abrigo. This marks the next step in our continued journey of becoming the technology platform partner of choice for America’s community financial institutions.

    Together, we provide market-leading compliance, credit risk, and lending solutions to community financial institutions to enable you to think bigger, allowing you to both manage risk and drive growth. Our mission to “Make Big Things Happen” reiterates our commitment to helping community financial institutions succeed against “the perfect storm” of ever-changing and increasing regulatory requirements, limited resources, increasing and new competition, evolving technologies, and changing customer expectations.

    Read more here.