Case Study

Combating Fraud in Real-Time

How United Bank is Mitigating the Impact of Wire Fraud

United Bank  • Location: Fairfax, VA
Assets: $29B • Core Banking System: FIS – IBS

Wire fraud is a persistent challenge in the financial industry. As criminals target consumers with romance and investment scams, and launch sophisticated Business Email Compromise (BEC) attacks, financial institutions need a robust wire fraud solution to effectively prevent loss.

“I don’t think anyone holds a candle to what Verafin can provide with their behavioral analytics and analysis of payees across the Verafin Cloud.”

Daniel Flynn, VP Fraud Investigations Manager, United Bank ($29B)

In this insightful case study, discover how United Bank deployed Verafin to mitigate the impacts of wire fraud on their institution — and realized substantial benefits. You will learn how Verafin’s efficient and effective Wire Fraud solution, harnessing real-time detection, targeted analytical agents and payee risk analysis in the Cloud have reduced false positives, minimized customer friction, and provided a holistic view of wire activity at United Bank.

  •   Business Email Compromise
  •   Fraud
  •   Wire Fraud

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