Criminals are performing increasingly complex financial crimes that stretch beyond your own four walls. It is a serious challenge to properly assess the risk a customer poses when your view of their activity is restricted to your own institution. FRAMLx, Verafin’s cross-institutional analysis functionality, utilizes targeted analysis of our immense data set in the Verafin Cloud to uncover criminals operating at multiple institutions and alert you to their presence.
Key features of Verafin’s FRAMLx cross-institutional analysis functionality include:
- Risky Entity Alerts. Detect customers performing potentially risky activity at other institutions.
- Notification of 314(b)-Related Alerts at Other Institutions. Verafin alerts you when a customer at your institution has AML alerts at another institution.
- Real-Time Risky Check Analysis. Discover, at the time of deposit, if a check was previously returned at another financial institution.
- Wire and ACH Payee Confidence. Determine if the receiving account for a wire or ACH transfer has a trusted transaction history.
- Cross-Institutional Compromised Terminal Analysis. Get alerted to cards that are potentially compromised and at risk of fraud.
