Enhanced Due Diligence

Automating and integrating processes for a more efficient and effective due diligence program.

Too many tasks for too many customers

Financial institutions are facing challenges in meeting requirements for conducting periodic enhanced due diligence (EDD) reviews of high-risk customers. Managing the volume of reviews created as a result of generic risk models can be overwhelming, especially with a manual process for identifying and risk-rating customers.

Verafin’s automated EDD solution is a centralized workflow for reviews that integrates in a continuous loop with customer risk, as well as ongoing suspicious activity monitoring and targeted surveillance. The output of the enhanced due diligence review process dynamically impacts customer risk to ensure an accurate risk score and efficient due diligence process, ultimately strengthening your compliance program.



Document and configure your institution’s high-risk customer review policies, per high-risk category, directly in the Verafin application to ensure you conduct EDD reviews on time. With automated EDD workflows, Verafin eliminates the need for manual tracking with email reminders and spreadsheets so you never miss a review.


Improve ongoing EDD processes with a visual dashboard that provides a quick overview of alerts on your high-risk customers, plus your active, upcoming, and completed due diligence reviews.


Direct from the workflow, you can review alerts on high-risk customers that may require additional scrutiny, including new high-risk customers, those missing documentation, and those who have exceeded their declared behavior.


Establish review dates based on your institution’s policies, receive email task reminders, assign tasks to other users and attach relevant findings and documentation — all within Verafin’s EDD workflow.


Create cases directly from alerts, or for enhanced due diligence on high-risk customers. Attach files, manage tasks, and fully document findings — all in one location.


Create custom reports that suit your reporting needs, such as a report of your high-risk customers, including the date of their last completed review and their upcoming review date.


Automate and centralize to save time and reduce costs

Most institutions have to rely on manual processes to manage their high-risk customer reviews, including tracking enhanced due diligence reviews on spreadsheets, and using disparate tools like shared drives and digital calendar reminders.

Verafin’s fully-integrated case management and automated EDD functionality centralizes and automates your due diligence efforts to provide greater visibility on your end-to-end process. In Verafin, you can easily create review workflows for your high-risk customers, establish review dates based on your institution’s policies, and automate tasks such as reminders to save valuable time and improve efficiencies.

Greater visibility to your examiners

Institutions are required to have a full understanding of the risk profile of their entire customer base — with a specific focus on high-risk customers — and to provide continuous surveillance of these customers.

Verafin reduces the compliance burden and improves efficiency by enabling BSA/AML professionals to perform powerful and efficient ongoing due diligence that is in line with the true risk the customer poses to the institution.

More Verafin Features

High-Risk Customer Segmentation. From an integrated Account Opening Questionnaire to continuously monitoring your existing customer base with intelligent segmentation analytics, Verafin’s High-Risk Customer Management solution automates identification of high-risk customers and segments them into high-risk categories. Learn more >
Risk Stratification. Verafin’s high-risk management approach allows you to define what risk means to you, and stratifies risk within high-risk categories, such as Money Services Businesses, Private ATM Owners, and Marijuana-Related Businesses. This ensures you are reviewing the right customers at the right time, saving time and effort, and providing greater visibility to examiners. Learn more >
High-Risk Customer Surveillance. Verafin’s behavior-based approach and targeted analytics provide powerful ongoing surveillance of accounts within specific high-risk categories to improve quality — and reduce the volume — of high-risk customer alerts. Analytics draw from the Verafin Cloud to intelligently evolve based on peer data, automatically updating the risk level of any customer demonstrating unusual or risky activity. Learn more >
Anti-Money Laundering. Verafin alerts you to a wide range of potentially suspicious customer activity occurring across multiple transaction channels. From unusual flow of funds to human trafficking and terrorist financing activity, Verafin’s risk-rated AML alerts ensure criminals are not preying on your institution. Learn more >

Interested in learning more about Verafin's Enhanced Due Diligence Solution?