United Bank • Location: Fairfax, VA
Assets: $26B* • 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
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.
* As of original publication date, 2021
