The Braid Compliance Readiness Assessment (BCRA) is a targeted, risk-based assessment designed to help financial institutions successfully implement theBraid platform to manage higher-risk customers in alignment with regulatory expectations. As banks and credit unions expand services to Fintechs, Money Services Businesses (MSBs), Third Party Payment Processors (TPPPs), Non-BankFinancial Institutions (NBFIs) and other potentially higher-risk customer segments,they face heightened scrutiny and compliance challenges. The BCRA provides aclear, structured approach to evaluating an institution’s readiness to meet these challenges—before live transaction processing begins.

 

The BCRA is a focused assessment that helps financial institutions identify gapsand optimize their AML/CFT and Sanctions Compliance frameworks to fullyleverage the enhanced oversight capabilities of the Braid platform. The assessment: 

 

Pinpoints potential weaknesses in the AML/CFT and Sanctions ComplianceProgram which may undermine the effectiveness of controls specific to themanagement of higher-risk customer segments

 

Identifies enhancements to governance practices and customer onboardingand monitoring processes to facilitate successful implementation of the Braidplatform and oversight of potentially higher-risk customer segments

 

Provides leadership with increased confidence in their ability to onboard and oversee higher-risk customers to increase their revenue base

 

The BCRA report delivers practical, actionable insights, enabling financial institutions to make informed decisions, refine their compliance strategies, and facilitate regulatory alignment—all while positioning themselves for growth inhigher-risk market segments.