With the aim of providing full-spectrum financial services, OSS eases the burden that highly regulated businesses face when engaging with financial institutions or when navigating the thicket of banking laws and regulations. OSS can help you:
- Make sure your cash management operations are 100% compliant
- Secure reliable banking relationships
- Minimize the risk of forfeiture actions
- Offer compliant electronic payment solutions for high-risk industries
Banking Relationship Coordination
- OSS services enable access to banking and other financial services that are otherwise inaccessible due to financial institutions’ reluctance to manage (on their own) compliance risks.
- Our compliance team provides ongoing due diligence and risk monitoring that includes legal and regulatory developments to ensure our clients and financial-sector partners are able to adjust to changes that could otherwise increase their risk exposure.
- Establish compliance systems specific to the customer so that OSS clients can conduct business with high-risk businesses while also satisfying their AML/BSA obligations.
- Identify potential risks and create a risk profile based on factors defined by regulatory guidelines.
- OSS specialists employ risk management methods that encompass assessment, monitoring and mitigation planning.
Provisional Credit Based on Financial Institution Approval
- OSS works with Financial Institutions to provide provisional credit to client accounts as soon as their cash is picked up and validated at our secure facility.
- Clients no longer have to wait for their CIT provider to deposit the money into the Federal Reserve Bank and the deposit is confirmed with the Financial Institution (which could take several days or even weeks).
- OSS can help clients access the funds in their bank account within as early as 24 hours.
B2B & B2C Electronic Payment Systems
- OSS works with technology and financial service specialists to provide compliant money transmittal services.
- High-risk businesses can now accept contactless payments through an iPhone or Android app from its customers without cash.
- Also allows clients to manage payments, taxes, compliance and more.