Protect payments and identify money mules with Consortium Analytics.
With a network of thousands of financial institutions in the Cloud, Verafin’s consortium data approach delivers insights into counterparty risk that significantly improves payments fraud detection and reduces false positives.
ENRICHED ACCOUNT PROFILES
Account profiles are developed using rich demographic and payment transaction data from across our consortium. Verafin uses this unique consortium data set to deliver insights into counterparty risk.
Our consortium approach provides a more complete picture of risk for added confidence that payments are destined to the right beneficiary, protecting your institution and your customers.
Consortium Analytics combine cross-institutional data to reduce false positives by identifying low risk accounts, and alerts to higher-risk payments when an account is unknown to the network.
Verafin provides real-time interdiction to release or reject a payment directly from an alert or case, providing an additional layer of protection for your customers and your institution.