Verafin is the industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Nearly 3000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations.
Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today.
Verafin offers a comprehensive BSA/AML and fraud enterprise solution, with functionality that includes:
Verafin’s BSA/AML and fraud detection solution offers a full range of functionality, applying cross-institutional artificial intelligence and machine learning to ongoing analytical enhancement.
Additionally, Verafin incorporates a wide range of data sources into its analysis to reduce false positives and create robust suspicious activity alerts that greatly improve a user’s ability to investigate more efficiently and effectively. As a cloud-based solution, Verafin can provide enhancements seamlessly on a weekly basis, ensuring users are a step ahead of the latest criminal trends and threats.
Verafin is CUNA’s exclusive provider of 314(b) Information Sharing technology, helping financial institutions detect suspicious activity across multiple institutions and facilitating collaboration under Section 314(b) of the USA PATRIOT Act.
Click here to request a demo today & learn more about how Verafin’s Financial Crime Management solution can help your Credit Union.
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 Financial Crime Management 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:
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.
As encouraged by FinCEN, financial institutions in the U.S. can share information about investigations tied to money laundering, human trafficking, and terrorist financing with investigators at other 314(b)-registered institutions, for richer, more detailed collaborative investigations.
Verafin provides Information Sharing technology for more than 2000 institutions that are members of FRAMLxchange, the industry's largest network of 314(b)-registered institutions. FRAMLxchange is registered with FinCEN for 314(b) information sharing as an association of financial institutions.
Suspicious Activity Reporting for Dummies® eBook
This handy guide walks you through the process of filling out an SAR form and offers tips on how to spot potential money laundering activities.
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