Verafin, a CUNA Strategic Services alliance provider, is the leader in cloud-based, cross-institutional Fraud Detection and Anti-Money Laundering (FRAMLx) collaboration software with a customer base of over 1500 financial institutions across North America. Its solution uses advanced cross-institutional, behavior-based analytics to help financial institutions navigate the BSA, USA PATRIOT Act and FACTA compliance landscape, along with staying ahead of numerous types of fraud.
Verafin's innovative crime-fighting solution includes FRAMLxchange, the industry’s largest secure 314(b) information sharing network that facilitates collaboration between more than 1000 financial institutions and 3000 investigators, and is available to any 314(b)-registered institution.
Credit unions save 10% off retail through the CUNA Strategic Services program.
Verafin’s solution combines four elements for the most comprehensive solution in the market:
By using advanced artificial intelligence instead of the more common rules-based technology to search out suspicious activity — Verafin can replicate human reasoning and catch suspicious activity that rules may miss – all in one easy to use program.
Verafin’s is the exclusive provider of FRAMLx that can detect suspicious activity across multiple institutions, and facilitates collaboration under Section 314(b) of the USA PATRIOT Act.
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.
Have you heard of Verafin’s game-changing innovation – FRAMLx? This one-page FRAMLx feature sheet provides a concise overview, explains why the cloud is important for this technology, and covers what the benefits of FRAMLx are for you.
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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