Digital Federal Credit Union (DCU) • Location: Marlborough, MA
Assets: $8.6B* • Core Banking System: Fiserv – XP2
“Within the first couple of alerts in Verafin, we were already saving more money than we did with our previous solution in the past few years. In our other system, we would have had to go digging around, searching for fraud… that had already occurred, but with Verafin we were alerted to it in advance.”
– Justin Davis, Fraud Manager, Digital Federal Credit Union
When Justin Davis joined Digital Federal Credit Union as Fraud Manager, DCU was using Nasdaq Verafin for fraud prevention on multiple channels, but he also inherited a different legacy system to monitor online banking and mobile channels. The fraud team was growing increasingly frustrated with the previous system, as fraud losses were mounting from digital channels and it continually failed to alert them to unusual activity.
In this case study, you’ll read how Justin partnered with Nasdaq Verafin to get the right rich data flowing into the application — with instant results. With just three alerts, Nasdaq Verafin had saved DCU more than their previous legacy solution had in the previous few years.
* As of original publication date, 2019
