Preventing real-time payments fraud requires innovative strategies
Nasdaq Verafin’s Instant Payments Fraud solutions combine behavioral analytics with consortium insights for robust fraud prevention solutions. Our unique approach uses a consortium data set derived from 2500 financial institutions and 650 million profiled accounts, to enable comprehensive insight into payment risk — providing individual institutions with the collective power of the Nasdaq Verafin network, without sharing Personally Identifiable Information (PII).
Supporting real-time fraud detection for out-going TCH RTP and FedNow payments
A new collaboration between Nasdaq Verafin and JHA PayCenter™ will provide support for real-time fraud detection on both TCH RTP and FedNow services for out-going payments. This means faster, more secure transactions for our customers and efficiency in providing seamless real-time payments.
"Combining the benefits of cross-channel behavior-based analytics and insights on recipients from its consortium of financial institutions, Verafin’s Payments Fraud solution offers institutions a complete picture of risk."
Chartis Payments Risk Tech Solutions 2023
Features
Benefits
Real-Time Interdiction Strategies
Providing real-time interdiction strategies, Nasdaq Verafin allows you to release or reject a payment directly from an alert or case within the application, providing an additional layer of protection for your customers and your institution.
Integrated Case Management
In Nasdaq Verafin’s consolidated platform, you can create a case directly from an alert, attach applicable files, link entities and related activity, and fully document your investigation.
Multi-Channel Analysis
Nasdaq Verafin’s multi-channel analytics give you a more complete picture of account activity. Capture a wider range of activity beyond suspicious transfers, including potential online account takeover and illicit flow of funds, that would be invisible if relying on a siloed solution.
Alert Management
Nasdaq Verafin’s alert management functionality provides investigators with a comprehensive view of the customer and data to expedite alert review and triage.
