Customer testimonials

Our customer relationships are a great source of pride. There is nothing we like better than seeing Verafin exceed the expectations of our users.

We believe we offer a superior regulatory compliance and anti-fraud solution with an unparalleled commitment to customer satisfaction. But why take our word for it? See what our customers have to say about:

• Improved efficiency
• Superior fraud detection
• Painless integration
• The benefits of behavior-based transaction monitoring
• Exceptional customer support

Improved efficiency

Using the Verafin application has allowed our Bank to gain many efficiencies in the area of BSA compliance, such as elimination of reports that were manually reviewed and filing reports such as CTRs electronically. Also, we receive a better overall picture of activity that may warrant further review since the software takes many factors into consideration during transaction analysis. Another great feature is the instantaneous results when IAT files are scanned for OFAC compliance. This allows our bank to process the files promptly and efficiently.

-       Pam Weakley, BSA Compliance Officer, Omni American Bank

 

We went from a manual reporting system to this automated system. This has helped us greatly with compliance and audit procedures. Verafin's strength is the ability to react to issues and make changes accordingly to meet our needs. The support staff and programmers at Verafin are friendly, courteous, and very good to work with. They continue to work diligently to improve the program to meet the needs of the bankers and regulators.

-       Becky Turnquist, Operations Co-ordinator, Frandsen Bank & Trust

 

Verafin truly does help you to see what might otherwise go unnoticed! Since beginning Verafin we have found it so much easier to monitor accounts, file our paperwork, as well as going paperless, and at the same time having that audit trail for the big EXAM! I would recommend Verafin to any financial institution.

-       Michelle Cunningham, Compliance & Risk, GESA CU

 

Superior fraud detection

So far, I feel Verafin will help me pull the “net” in much tighter on our fraud monitoring. We never want our credit union or members to become victims of fraud, but also, as a manager I don’t want anything slipping through the cracks; making my area look as though they weren’t paying attention or that they weren’t trained properly or inexperienced. It’s like having our own “private eye” on staff!

-       Kelly Calmes, Vice President of Member Services, Fremont CU

 

Deploying Verafin has expanded our capability to detect and report suspicious transactions and has helped our Compliance and Fraud team to be much more efficient. The relationship has been terrific, and we are seeing a positive return on our initial investment already.

-       John McGowan, Director of Risk Management, Addison Avenue FCU

 

LGE Community Credit Union has been utilizing the Verafin product suite since 2007. Although we originally went to Verafin for BSA compliance, the product has proved to be extremely beneficial in all areas of fraud detection. We are impressed with the user friendliness of the system, responsiveness of the Verafin staff, and their receptiveness to suggested enhancements from our Risk Management staff. We’ve been so impressed, Verafin was our first thought as it related to Red Flag compliance, which was recently added, and vendor due diligence.

-       Chris Leggett, CEO, LGE CCU

 

Painless integration

The Verafin production is by far the most user friendly of five AML solutions we looked at and the service during implementation has been outstanding. Everyone on Verafin's staff has been very responsive. Our VP of IT even commented that this is the most smoothly run project his department has been part of. The entire implementation experience was excellent, and the product is outstanding and very user friendly. Our VP of IT said this was the best vendor experience he has ever had.

-       Larry Davis, Compliance Officer, Tropical Financial

 

Verafin has allowed us to capture more suspicious activity and fraud then we could have with our manual processes. It’s ease of use has allowed us to learn all the functionality quickly. Being the first Credit Union on the Sharetec core system to use Verafin, the Verafin team worked with us closely to get the application up-and-running quickly. We’ve had a great experience with training and support – we can call Verafin and receive a response from an actual person in a matter of hours.

-       Sonya Sugg, MECU

 

The benefits of behavior-based transaction monitoring

Switching from rules-based monitoring to Verafin has created the capacity for the Bank to have a more granular BSA/AML program and monitoring system. Before we were limited to monthly monitoring and information given by employees. By the time certain suspicious activity was identified and reorganized it could be 45-60 days after the transaction(s) have occurred. With the daily alerts covering all different areas (money laundering, ATM, check fraud, identity theft etc.) you are able to recognize behavior sooner and minimize losses.

-       Staria Williams, Compliance & Risk, Industrial Bank

 

Exceptional customer support

The Verafin Support team is helpful and diligent. They always respond in a timely manner and do a great job working with me to solve issues as they arise. Verafin has always been more than willing to work with us on issues, including issues that arise due to our core processor changes.

-       Michelle Lockwood, Retail Banking Co-ordinator, First United Bank

 

Verafin has given us the opportunity to take our BSA/AML program to the next level through automation and their comprehensive software package. The integration of this program was seamless with the partnership their support team offers. They are responsive and forward thinking, two very necessary qualities in a true vendor partner. We appreciate their innovation and look forward to a successful future together.

-       Jessica Volkmann, Compliance Process Leader, Affinity Plus

 

Verafin continues to make me feel like I am your only client and that is very special for me. I don’t know how Verafin does that, but it makes me your biggest fan! I am a one woman compliance department, yet I can do everything that needs to be done with Verafin as my senior staff. That makes me smile and my boss very happy!

-       Molly Schmalfeldt, Vice President of Compliance, Air Force CU