December 09 at 12:30 PM - 01:30 PM EST

BSA/AML Compliance, Fraud Detection & High-Risk Customer Management

A Consolidated Financial Crime Management Platform

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Criminals are profiting from sophisticated attacks against financial institutions left vulnerable and exposed by the inefficiencies of manual processes, siloed departments and disparate point solutions. With traditional approaches to financial crime management now largely ineffective, a cloud-based platform that evolves alongside criminal trends to quickly provide cutting-edge analytics, expedite investigations and provide holistic insights for law enforcement is more important than ever.

Join us for an engaging overview of Verafin’s cloud-based, consolidated Financial Crime Management platform — a complete solution to detect, investigate and report financial crime. Our expert presenters will explore the power of Verafin’s big data intelligence approach, highly targeted detection scenarios enriched with open-source and third-party data, cross-institutional analysis, and collaboration through the Verafin Cloud.

Highlights from this special overview demonstration include:

  • End-to-end High-Risk Customer Management and Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) including an Account Opening Questionnaire; high-risk customer identification and segmentation analytics; automated risk-review workflows; and stratified, configurable risk-models for high-risk customers.
  • Targeted AML scenarios including structuring, international activity, terrorist financing, human trafficking and funnel accounts.
  • Targeted Fraud scenarios including first-party deposit fraud, deposit fraud scams, online account takeover, wire & ACH fraud, debit card fraud, loan fraud, and elder financial abuse.
  • Risk-rated alerts enriched with third-party, open-source and cloud-based data.
  • Visual storytelling to provide you with more information, help expedite investigations and strengthen reporting.
  • Cross-institutional detection and 314(b) Information Sharing to facilitate collaborative investigations between 314(b)-registered institutions.
  • Complete BSA/AML Compliance & Management with process automation including regulatory reporting for SARs and CTRs, OFAC/Watch List scanning, Case Management, Enterprise Reporting, etc.

Verafin is proud to be the endorsed provider of Financial Crime Management software for the Western Bankers Association, Texas Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services, and has industry endorsements in 48 states across the U.S.

Verafin is the industry leader in financial crime management solutions, providing a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Nearly 3000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today.

Tagged as...

  •   BSA/AML Compliance
  •   FRAML
  •   FRAMLx
  •   Fraud