Verafin introduces online banking fraud detection with its latest FRAML™ software release

St. John’s, NL—June 29, 2012

Verafin Inc. (www.verafin.com), a leading provider of fraud detection and anti-money laundering (FRAML) software, today unveiled Summer ‘12, the latest update to their FRAML software. Verafin delivers four seasonal releases per year, ensuring financial institutions have the latest advances in fraud and money laundering detection analytics to protect both themselves and their customers.

The Summer ‘12 release debuts Verafin’s online banking fraud analytics, helping financial
institutions proactively prevent losses due to criminal attacks via the ACH network. With the
criminal attacks on both consumer and corporate accounts in the online channel increasing in
complexity, Verafin analyzes account behavior for anomalies and detects fraud trends. It then
alerts users to suspicious online transactional activity before the transfer of funds is completed,
preventing loss and eliminating the need for costly account restitution and lengthy funds retrieval
processes.

“We were an early customer on Summer ‘12 and are very excited about how much the latest
release is able to help us”, says Janiree Beard, BSA Officer with Community Financial Services
Bank, a community bank headquartered in Benton, Kentucky. “Our experience with Verafin has
been fantastic and Summer ‘12 is no exception. Gaining online banking fraud detection
functionality in addition to everything the Verafin software already offers just makes it that much
more valuable. In the short time we have been using the latest release we have uncovered
potential online banking fraud that we once might have missed.”

In addition to online banking fraud detection, Summer ‘12 includes a number of other feature
updates that will help enhance the Verafin user experience. Rob Norris, Director of Product
Management at Verafin, discussed the highlights:

“We always listen to our customers to ensure we understand their needs. We also work hard to
understand the changing forces of fraud so we stay ahead in the landscape of financial crime.
This release speaks to those efforts. In addition to online banking fraud detection, which
enhances our cross-channel offering, we have made advancements in our automated Common
Point of Compromise (CPC) functionality to help our customers proactively stop the spread of
debit card fraud. We have also made numerous ease-of-use updates to our case management
workflow. Our Summer ’12 release really ramps up our customers’ ability to prevent fraud at
their institutions.”

Verafin continues to experience rapid growth of its customer base, most recently announcing
they had surpassed more than 860 customers. Verafin's FRAML (FRaud detection + Anti-Money
Laundering) solution is a natural choice for financial institutions, as it utilizes artificial
intelligence and behavior pattern-based recognition to analyze transactions from multiple data
sources across different transaction channels. With a robust and user-intuitive case management
feature, Verafin lets fraud professionals and BSA/AML officers act quickly on evidencesupported
suspicious activity alerts. Using one innovative software platform, professionals can
detect, investigate, document, and neutralize suspicious activity—while meeting regulatory
requirements.

About Verafin
Verafin is a North American leader in fraud detection and anti-money laundering solutions for
financial institutions, with over 860 customers that span 65 core processing systems and a broad
asset range. Verafin helps financial institutions comply with the Bank Secrecy Act, USA
PATRIOT Act, and FACTA regulations, while also helping to protect against fraud. Verafin is
the exclusive provider of fraud detection and BSA/AML software for the California Bankers
Association, Massachusetts Bankers Association, CUNA Strategic Services and has industry
endorsements in 44 states. For more information, visit www.verafin.com, email us at
FRAML@verafin.com or call 1-866-781-8433.