Verafin imports and analyzes an immense data set from multiple sources, including core data, ancillary data, open-source data, third-party data, and consortium data. By applying cross-institutional analysis and machine learning technology to analyze a billion transactions every week in the Verafin Cloud, our approach reduces false positives and increases the quality and accuracy of your alerts.

Visual smart evidence and investigation tools are incorporated directly into targeted alerts, so you can quickly assess risk-rated evidence, view check images, examine balance charts, review geographic maps, and interact with relationship graphs. By providing targeted alerts packaged with supporting information and evidence, Verafin saves time and resources in every investigation.

Verafin combines the power of cross-institutional analysis in the Cloud with information sharing technology, enabling institutions to work together to strengthen investigations into crimes that span multiple institutions. This approach provides a more complete picture of activity, improves the efficiency of your investigations, and helps provide richer reporting to law enforcement.

Through access to enormous amounts of anonymized Cloud-based data, ongoing collection of user feedback, and advancements in artificial intelligence and machine learning, Verafin develops highly-targeted analytical models that alert financial institutions to the latest trends in criminal activity with extreme accuracy. We continuously improve Verafin’s analytical performance with machine learning trained on Verafin’s vast amount of labelled data — something incredibly difficult for a single institution to achieve with the limitations of an isolated and restricted data set.

Verafin’s targeted models provide your institution with powerful surveillance of customer accounts. Employing targeted models in place of broad, generic analytics enables more accurate alerts and reduces the rate of false positives. Our analytics use data from across the Verafin Cloud environment to intelligently and rapidly evolve based on peer data, alerting you to risky activity. 

Verafin helps financial institutions stay abreast of industry dilemmas and emerging fraud and money laundering patterns with a customer-driven development process. Combining anonymized cloud-based data, user feedback, and advancements in artificial intelligence and machine learning technology, Verafin develops highly-targeted analytical models that alert financial institutions to the latest criminal trends. Weekly software updates ensure institutions are always protected by the latest analytical advances.

The market leader in cross-institutional financial crime detection software, 3500 banks and credit unions across North America use Verafin to comply with regulations and stay a step ahead of financial crime.

Verafin interfaces with more than 100 data sources, including 65 core banking systems and electronic funds transfer, switch, teller, ACH, wire, check imaging and online banking platforms.

Verafin’s partnerships include industry endorsements in 48 states, including the TBA, WBA, MBA, and we are a strategic alliance provider of CUNA.

Verafin’s dedicated support team is available 24 hours a day, 7 days a week, 365 days a year — at no additional cost.

To help ensure users are gaining every benefit of the application, Verafin offers unlimited user training, across multiple channels, free-of-charge.

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