Enhance Monitoring. Prevent Loss.
With criminal schemes such as Business Email Compromise becoming a growing problem, institutions need enhanced monitoring to prevent serious loss.
Combining behavioral evidence with consortium insights, Nasdaq Verafin’s Wire Fraud solution provides financial institutions with powerful insight into both the payor and payees who do not bank at your institution. Our unique approach uses a consortium data set, representing 2500 financial institutions and over 650 million counterparties, to provide comprehensive insight into wire fraud risk — beyond the limitations of an individual institution and without sharing Personally Identifiable Information (PII).
"In a recent proof of concept with a Top 5 US bank Verafin delivered a 25% reduction in false positives and a 250% improvement in wire fraud detection by value."
Risk Tech Solutions – Payments Risk, 2023
Holistic Fraud Prevention
Using the Nasdaq Verafin consortium and insights from 650 million counterparty profiles, our wire fraud analytics consider the complete picture of risk across the entirety of a transaction, providing exceptional wire fraud prevention while reducing false positives, customer friction and operational costs.
Consortium of
2500
financial institutions
Insights from
650M
counterparty profiles
Holistic Fraud Prevention
Using the Nasdaq Verafin consortium and insights from 650 million counterparty profiles, our wire fraud analytics consider the complete picture of risk across the entirety of a transaction, providing exceptional wire fraud prevention while reducing false positives, customer friction and operational costs.
Consortium of
2500
financial institutions
Insights from
650M
counterparty profiles
Benefits
Stop Fraudulent Transfers in Real Time
Prevent serious loss by reviewing potentially suspicious wires before they are released. Nasdaq Verafin alerts you to activity that is unusual for your customers — in real time.
Improve Alert Review Efficiency
Nasdaq Verafin’s evidence-based alerts use a wide range of factors to not only alert you to potentially suspicious activity but also to reduce false alerts. Analyzing for potential escrow accounts and established payees are just two ways Nasdaq Verafin avoids alerting you to activity that is not fraudulent.
Transact with Confidence
Using insights from over 650 million counterparty profiles in concert with behavioral evidence, Nasdaq Verafin’s Wire fraud analytics consider the complete picture of risk across the entirety of a transaction for exceptional fraud detection.
Greater Control Over Alerts
Wire fraud schemes and the losses they inflict can vary greatly. With segmented wire agents, investigators get greater control over the type and risk value of the alerts they receive which can be individually configured according to your risk tolerance and clientele.
