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.
Verafin begins with a complimentary assessment of current practices to blueprint how your credit union could benefit from an automated solution. Verafin works with each credit union in loading the software on their own system and integrating with the 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 Verafin product experts at a Verafin User Group in your area. Join us to hear about product developments on the horizon, share user tips, and discuss industry trends and hot topics. To enroll, visit the Verafin community website.