Financial Compliance and Transaction Monitoring Solution

The Vendor is required to provide to implement a web-based, secure, conditional and configurable platform that streamlines transaction management and financial reporting; implements new organizational tracking and reporting requirements; enhances compliance responsibilities and monitoring; and increases transparency for both agency staff and the public.
- Solution will include entering, editing, maintaining, tracking, reporting, auditing, and publishing financial transactions.
- Solution must:
•    Record all financial transactions between organizations, including the source (Payer), recipients (Payee), transaction type, amount, date, and any associated reference materials.
•    Assign a unique identifier to each payer and payee entity to ensure consistent tracking of all financial transactions across time and systems.
•    Allow users to classify, search, and filter transactions by multiple criteria, including organization, time period, and transaction type.
•    Maintain complete audit trails for all transaction records, including data entry, modification, and approval history.
- Data Collection and Integration
•    Secure electronic submission of financial disclosures and transaction reports. 
•    Integration with internal and external data sources and systems including banks or other financial institutions. 
•    Allow for manual entry and editing of transactions data regardless of any other primary input methods (bulk upload in standard industry-recognized formats such as CSV and XLSX, account integration, etc.).
•    Ability to categorize transactions.
•    Ability to validate data in a variety of transactional fields such as Amount, Date, Payee/Payer, Organization and Type.
- Relationship Modeling and Data Linkage
•    Support many-to-many relationships between organizations and individuals.
•    Enable relational queries and cross-referencing between transactions, organizations, and individuals.
•    Provide tools to visualize relationships and financial linkages through graphical or network-based representations.
•    Solution must have a variety of data points that can be found via search including: individual, organization, transaction or transaction type.
- Automated data validation and normalization
•    Solution must be capable of identifying individuals or entities appearing in multiple records across different recipients, organizations, or reporting entities. 
•    Solution must have the ability to aggregate individual and organizational data using identifiers (e.g., name, address, financial information, employer, or other matching logic) to highlight potential duplicates or coordinated activity. 
•    Support for analytics that detect patterns of recurring or high-volume transactions linked to the same organization or person across multiple entities. 
- Transaction Monitoring and Compliance 
•    Real-time monitoring and configurable alerts. 
•    Solution must be able to ‘flag’ transactions, organizations or individuals for review based on a set of configurable rules and dates. These flags will alert users of potential noncompliance or irregularities (e.g., over-limit transactions, duplicate entries, or prohibited sources). 
•    Workflow tools for review, escalation, and resolution. 
•    Ability to build automated and customized messaging that is responsive to user actions.
•    Calculation of fees related to organization initiation or noncompliance.
- Transparency and Disclosure
•    Public-facing portal to share specified fields within the financial disclosure data. 
•    Searchable data interface and visualization tools for public users. 
•    Accessible on mobile and desktop through all modern browsers (including Chrome, Firefox, Edge, Safari, Opera, Brave, DuckDuckGo, Aloha, etc.).

- Contract Period/Term: 2 years
- Pre-Proposal Conference Date: February 10, 2026