Verafin is a North American leader in anti-money laundering and fraud detection solutions for financial institutions. Its behavior-based software helps credit unions comply with the Bank Secrecy Act, USA PATRIOT Act, and FACTA regulations, while also helping to protect against fraud. Verafin's software supports a consolidated approach to fraud and AML (FRAML) through a single, easy-to-use solution. That's why more than 1,000 financial institutions operating on more than 65 core processing systems chose Verafin's solution to stay a step ahead of regulations and financial criminals.
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Verafin’s solution combines four elements for the most comprehensive solution in the market:
Verafin searches out suspicious activity, using advanced artificial intelligence instead of the more common rules-based technology. Artificial intelligence is designed to replicate human reasoning and allows Verafin to catch suspicious activity that rules may miss – all in one easy to use program.
Are you missing suspicious activity? Do you have an accurate picture of your customers' behavior across channels? Does BSA/AML compliance sometimes feel like a burden? Verafin's FRAML software solution provides cross-channel, risk-rated fraud and money laundering alerts that let you act quicker to protect your members and reputation. In one software solution, you achieve:
Verafin begins with a complimentary assessment of current practices to show how your credit union could benefit from an automated solution. Verafin works with your credit union to load the software on your own system and integrate with core processing and other systems as necessary.
Comprehensive functionality and "next generation" analytics combine with a highly effective consultative model and top notch service and support to deliver operational efficiencies, reduced fraud losses and help ensure compliance with regulations.
Suspicious Activity Reporting for Dummies® eBook is here!
This handy reference guide walks you through the process of filling out the SAR form and offers tips on how to spot and track potential money laundering activities. You’ll get helpful advice on how to pinpoint illegal activities that require reporting.
Connect with your peers and product experts at a Verafin User Group. Hear about product developments, share user tips, and discuss trends and hot topics. To learn more and enroll, visit the Verafin community website.