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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 575 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).
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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.
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"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
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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.
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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.
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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.
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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.
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