December 17 at 12:30 PM - 01:30 PM EST

BSA/AML Compliance and Management

Uncover Suspicious Activity & Strengthen Compliance

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There is enormous pressure on compliance professionals to uncover potential money laundering and keep ahead of changing regulatory requirements. Today, many financial institutions still rely on legacy systems, broad rules and manual processes to manage daily compliance tasks and uncover suspicious activity.

Using a big data intelligence approach, Verafin integrates cross-institutional data, third-party data, and open-source data for analysis. By leveraging artificial intelligence and machine learning in analytical models, Verafin significantly reduces false positives and generates a higher quality of alerts. These targeted AML analytics proactively alert you to a wide range of suspicious activity, including the unusual movement of funds, structuring, human trafficking, and terrorist financing.

Verafin’s Financial Crime Management platform enables your institution to configure the solution to your own risk tolerance. Enterprise case management and reporting present a complete view of potentially suspicious activity, while threshold testing and performance management ensure added confidence in examinations — all in a single, consolidated platform.

Join us as we demonstrate how Verafin’s BSA/AML Compliance and Management solution enhances anti-money laundering efforts with complete functionality to strengthen compliance, and targeted analytical agents to enhance your ability to detect, investigate and report potentially suspicious activity.

Highlights of this software demonstration will include:

  • Risk-rated targeted BSA/AML alerts and scenarios including monitoring for money laundering, structuring, international activity, human trafficking and more.
  • High-Risk Customer Management and end-to-end CDD/EDD including our Account Opening Questionnaire, stratified risk-models for high-risk customers, ongoing monitoring and automated risk-reviews.
  • Alert Threshold Testing and Performance Monitoring that allows you to validate configurations for your institution and assess the results of above- and below-the-line testing.
  • Integrated Financial Crime Case Management to create a case directly from an alert, attach applicable files, link entities and related suspicious activity, and fully document your investigation.
  • Automated regulatory reporting of SARs and CTRs, workflow dashboards, customized reporting, risk-rating and more.
  • 314(b) Information Sharing to facilitate collaborative investigations with other 314(b)-registered institutions and help you get a complete picture of customer activity.

Tagged as...

  •   BSA/AML Compliance
  •   CDD/EDD
  •   FRAML
  •   High-Risk Customer Management
  •   Money Laundering
  •   SARs