SOLUTION

Cross-Institutional Analysis

Discover how the power of the Verafin cloud can help combat criminal activity that spans across multiple financial institutions.

The crime-fighting power of the Cloud

Cross-institutional analysis provides a more complete picture of customer activity — beyond your four walls. It can detect unseen risks — including criminals who repeat their illicit activity across multiple institutions — and alert you to take quick action.

By analyzing millions of transactions in the Verafin cloud, our analytics also can identify legitimate customer behavior, reducing false positives and allowing you to focus your time and resources on what’s truly suspicious.

Features

RISKY ENTITY ALERTS

Get alerted to customers that are performing potentially suspicious activity at other institutions in the Verafin Cloud, and use Verafin’s 314(b) information sharing functionality to collaborate with those FIs.

ANALYSIS OF AML ALERTS AND OTHER INSTITUTIONS

Get alerted when a customer has potentially suspicious AML alerts at other institutions, allowing you to see unusual activity that might be hiding blow your threshold.

RISKY CHECK ANALYSIS IN THE CLOUD

Using the power of the Verafin Cloud, Verafin utilizes data from over 1600 financial institutions to alert you when a deposited check is drawn on a closed account.

WIRE AND ACH PAYEE CONFIDENCE

When a customer initiates a wire or ACH file transfer, Verafin analyzes the recipient account amongst institutions in the Verafin Cloud to help you establish confidence in the legitimacy of the transfer.

Benefits

Collaborative investigations

Verafin includes 314(b) information sharing functionality that gives 314(b)-registered institutions the ability to request and share information that can be incredibly valuable when investigating potentially suspicious activity across multiple institutions.

Uncover complex crime rings

Criminals are fast moving. As a cloud provider, Verafin releases software enhancements on a weekly basis, meaning you are always protected by the latest analytical advancements.

Better understand your customer risk

An isolated view of your customers’ activity means you cannot see the risk a customer may pose if they are performing suspicious activity at other institutions.

Ongoing innovation

Criminals are fast moving. As a cloud provider, Verafin releases software enhancements on a weekly basis, meaning you are always protected by the latest analytical advancements.

More Verafin Benefits

314(b) information sharing. Verafin gives you the tools to reach out to other 314(b)-registered financial institutions to request the information you need to enhance your investigations. Learn more >
Ongoing innovation. Criminals are fast moving. As a cloud provider, Verafin releases software enhancements on a weekly basis, meaning you are always protected by the latest analytical advancements. Learn more >
Enrich your SARs with collaborative investigations. With FRAMLx, you’ll get a more complete picture of activity, and the added value of sharing information under 314(b) to enhance your suspicious activity reporting to provide better information to law enforcement.  Verafin can pre-populate your SAR — and when ready — file it directly to FinCEN. Learn more >
Fight financial crime with FRAMLx. Verafin’s innovative approach combines multi-channel fraud detection and targeted AML scenarios, with advanced cross-institutional analysis and 314(b) information sharing, in a single crime-fighting platform — FRAMLx. Learn more >

Interested in learning more about Verafin's Cross-Institutional Analysis Solution?

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