Are you seeing the full picture of your high-risk customers?
The required ongoing surveillance of your high-risk customers can be a challenging and often manual process, with unusual activity often uncovered through general AML transaction monitoring. By analyzing all customers for risk factors, these first-generation approaches generate large volumes of false positives, creating unnecessary due diligence tasks, and costing valuable time.
Verafin’s targeted models provide your institution with powerful ongoing surveillance of high-risk customer accounts within specific high-risk categories. By tailoring analysis to the risk factors posed by specific categories, Verafin improves the quality — and reduces the volume — of alerts for high-risk customers. Verafin’s analytics utilize information from across the Verafin Cloud environment to intelligently evolve based on peer data, and alert you to activity that may indicate that additional scrutiny or adjustments to risk profile are needed. This means that should a customer demonstrate unusual or risky activity, their risk level is automatically updated, so you don’t have to wait for a scheduled review to see this change in behaviour and react to it.