Fact Sheet

Consortium-Based Analytics Development

All financial institutions face similar challenges to keep ahead of new and evolving financial crime typologies and changing regulatory requirements from industry advisories and national priorities. Yet, the industry approach to model development is fragmented. Each institution builds its own models or rules while maintaining existing ones — a never-ending cycle that strains programs with limited resources and increasing compliance costs.

Verafin’s Consortium-Based Analytics Development approach improves the efficiency and effectiveness of anti-financial crime programs, proactively identifying trends; rapidly developing, testing and deploying solutions to all institutions in the Cloud; and continuously improving analytics in our proven library of solutions.

  •   BSA/AML Compliance
  •   FRAML