Verafin’s Consolidated Financial Crime Management Platform

Exclusively for institutions on Finastra core banking systems

Verafin’s industry-leading enterprise Financial Crime Management platform leverages artificial intelligence and machine learning in highly targeted fraud and money laundering analytics. Verafin imports an immense data set from multiple sources and analyzes a billion transactions each week in the Verafin Cloud, delivering targeted agents that help you effectively combat financial crime and comply with regulations. Our unique approach combines big data intelligence, visual storytelling and collaborative investigation capabilities to significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today.

Join us for an overview of the Verafin Financial Crime Management platform as we discuss our proven integration with your core banking system. Learn why financial institutions on Finastra cores have chosen Verafin to help strengthen their compliance program and fight financial crime.

  • End-to-End High-Risk Customer Management and CDD/EDD including an Account Opening Questionnaire (AOQ); high-risk customer identification and segmentation analytics; automated risk-review workflows; and stratified, configurable risk models for high-risk customer categories.
  • Targeted AML Scenarios including structuring, international activity, terrorist financing, human trafficking and funnel accounts.
  • Targeted Fraud Scenarios including first-party deposit fraud, deposit fraud scams, online account takeover, wire & ACH fraud, card fraud, loan fraud, and elder financial abuse.
  • Risk-Rated Alerts enriched with data from your Finastra core, along with third-party, open-source and cloud-based data.
  • Visual Storytelling to provide more information at your fingertips, help you expedite investigations, and strengthen reporting.
  • Cross-institutional analysis and 314(b) Information Sharing that facilitates collaborative investigations between 314(b)-registered institutions in the industry’s largest secure information sharing network.
  • Complete BSA/AML Compliance and Management with Process Automation, including regulatory reporting for SARs and CTRs, OFAC/Watch List scanning, Case Management, Enterprise Reporting, and more.

Verafin is proud to be the endorsed provider of Financial Crime Management software for the Western Bankers Association, Texas Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services, and has industry endorsements in 48 states across the U.S.

Verafin is the industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Over 3000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today.

  •   314(b) Information Sharing
  •   BSA/AML Compliance
  •   FRAML
  •   Fraud
  •   High-Risk Customer Management