How are Filing Institutions and Financial Institutions related?

Filing Institutions and Financial Institutions are related, but serve different purposes.

Filing Institutions

Filing Institutions show information about your organization that would be included to identify your organization when you file a SAR; such as legal name, tax ID, institution type, primary regulator, financial intelligence unit, etc.), Organization Identifier (e.g., Central Registration Depository (CRD) ID number), and credentials needed to access the FIU. The ability to edit this information is enabled via a Badge Permission.

Financial Institutions

Financial Institutions contain much of the same information as a Filing Institution and are provided within the SAR to identify the institution where unusual activity has occurred. In the vast majority of cases, the Financial Institution is the same entity that is filing the report.

So, how do they relate to each other?

Because Filing Institutions and Financial Institutions can be the same entity, they are linked in the platform. Linked Financial Institutions have a check icon showing that it is an "official" institution and should be used in filings.

How do I edit Financial Institutions?

Because of the link between "official" Financial Institutions and Filing Institutions, all edits to their data occurs along with editing Filing Institution Data. The profile view of these Financial Institutions contains both the check icon, and a "Read Only" indicator. The ability to edit data for these entities is behind a permission, and can be edited in the Filing Institution tab in the settings page.

How can Hummingbird help ensure the appropriate institution is included for manually created cases?

Easy! We can automatically add the "official" Financial Institution to manually created cases. This is a configuration setting and can be enabled or disabled by your team at Hummingbird.