EFTiQ™ Compliance and Training Portal

EFTiQ™ is a compliance and training portal utilizing Dynamic Web 2.0 technology that lowers the cost and increases the efficiency of organizational compliance and provides a trusted third party managed audit trail to ensure the accuracy and timeliness of the compliance process. The EFTiQ™ portal will reside within the ATMIA Electronic Payments Forum portal as a sponsor section with access only to paying members. The actual company records for compliance reporting and auditing remain on the servers located at the client facility or on outsourced servers at a secured data center.

Overview:

EFTiQ™ is a complete compliance solution that can be run in-house for larger organizations and financial institutions or offered as a hosted service for small to medium size organizations that prefer to outsource their information technology needs. Industry specific compliance templates help the users in developing policies and procedures that are consistent with industry best practices. Electronic notification and tracking ensure compliance. Secured online access makes auditing easy and cost effective. 

Marketing:

EFTiQ™  marketing and sales is provided through industry consultants to financial service organization, payment processors and payment gateways, who in turn use the templates to develop custom compliance solutions for their clients. This cooperative approach benefits both the consultant and the client in meaningful ways.

Benefits:

• Independent audits become far more cost effective for sponsor banks, payment processors and their clients when on-site inspections are minimized or eliminated completely as a result of a centralized and certified tool(s).
• Policy and Procedure “Toolkits” ensure compliant procedures are developed with minimal effort and consistently amongst the payment industry.
• Other third party services, such as security scanning vendors can be contracted more competitively through collective bargaining.
• Using familiar software tools and templates will help both the consultant and the client develop and implement compliance programs quickly and more cost effectively.
• Remotely managed services offer an extra layer of safety and risk mitigation for the client by providing offsite data back-up and independent third party supervision.
• Total compliance is achieved through a combination of in-house controls and out sourced verification.

Industry Specific Solutions:

ATMiQ™ / POSiQ™/ CARDiQ™/ MPAYiQ™ / IPAYiQ

• Online Employee Training
• Business Continuity Plan
• Document Library
•  Due Diligence Records
• EPP Tracking
• Key Management
• Self Audits
• Compliance Reporting
• Customer Identification Program
• Anti-Money Laundering Program
• Policies and Procedures Manuals
• Customer Service 
• Charge-backs and Disputes
• Charge-offs
•  Data Security
•  Fraud Monitoring and Reporting
•  Instant Issue Card Shipping and Storage
• Negative Balance Handling 
• Affiliate Due Diligence
• Suspicious Activity Reporting (SAR) 
• OFAC Compliance 

Compliance Specific Solutions:

PCIiQ™

BSAiQ™

REGiQ™

Conclusion:

By providing a comprehensive financial services compliance solution, EFTiQ™ can help small and medium organizations meet their compliance obligations with minimum disruption to their business and at a price that they can afford.