What is Verafin?
With fraud and money laundering alerts, end-to-end due diligence solutions, robust case management functionality, automated regulatory reporting, and the ability to share information with other institutions, Verafin’s cloud-based, consolidated Financial Crime Management platform provides financial institutions with a complete solution to detect, investigate and report financial crime.
Criminals perform illicit activity across multiple transaction channels and numerous financial institutions. Verafin uses artificial intelligence and machine learning for cross-institutional, multi-channel analysis to show you truly unusual activity with a single alert, saving you time and providing you with the information you need to decide how to proceed. Verafin’s approach includes big data intelligence, visual storytelling and collaborative investigations to help institutions stay a step ahead of regulatory change and financial crime.
Verafin streamlines the investigation process by significantly reducing false positives and delivering insights through enhanced data analysis and innovative visualization tools.
Big Data Intelligence
Reduce false positives, increase the quality and accuracy of your alerts, and strengthen crime ring investigations with big data intelligence in the Verafin Cloud. Verafin imports and analyzes an immense amount of information from multiple sources, including core system, ancillary source, open-source, third-party, and consortium data. We then apply cross-institutional analysis and machine learning technology to analyze billions of transactions, ensuring best-in-class performance.
Expedite your investigations and create richer, more detailed reports with Verafin’s unique visual storytelling capabilities. You are presented with smart evidence and investigation tools, such as risk-rated evidence, check image viewer, balance charts, geographic maps, and interactive relationship graphs. By providing targeted alerts packaged with supporting information and evidence, Verafin saves time and resources in every investigation.
Work together to create a complete picture of financial crime by sharing information in Verafin’s secure environment. Combining the power of cross-institutional analysis in the Verafin Cloud with 314(b) information sharing tools strengthens investigations into crimes spanning multiple institutions, improves the efficiency of your investigations, and provides richer reporting to law enforcement.
INSIGHTS FOR INVESTIGATIONS
Flow of Funds Visualization
More Verafin Features
September 22 at 12:30 PM - 01:30 PM EST
From plotting sophisticated fraud schemes to outsmarting BSA reporting requirements, today’s criminals pose an increasing threat to financial institutions and their customers. Nefarious criminal activities...
September 23 at 12:30 PM - 01:30 PM EST
Conventional fraud detection approaches focus primarily on high-value wires, international transfers, or new beneficiaries resulting in a large volume of false positive alerts and increased...
September 29 at 12:30 PM - 01:30 PM EST
Financial institutions are facing significant challenges in combating increasing and ever-changing fraud scams. Using multiple fraud detection systems across siloed fraud and operational teams makes...
October 06 at 12:30 PM - 01:30 PM EST
Online customer accounts are a serious target for sophisticated criminals looking to commit unauthorized transfers and harvest data to perform numerous types of fraud. With...
October 13 at 12:30 PM - 01:30 PM EST
High-risk customer management is a significant challenge, as financial institutions must balance the needs of their business and customers with heightened regulatory expectations for customers...