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Compliance Automation

The rules are strict and the fines are large. Verafin's customer intelligence solution safeguards against the devastating consequences of noncompliance. Its auditable workflow process ensures regulatory compliance in todayís environment. Verafin's software suite seamlessly incorporates anti-money-laundering, fraud detection and terrorist list checking and is integrated with i-POWERģ.

Key Product Features:

  • Dashboard tools provide an extensive selection of views to let you look at your member up close and help you see what might otherwise go unnoticed.
  • Customer intelligence solution automatically generates reports for FinCEN, FINTRAC, OFAC, OSFI, BSA and USA PATRIOT Act requirements.
  • Software suite significantly improves productivity and decreases the cost of compliance.
  • Users love that it's so intuitive and easy to use.
  • Customer intelligence solution was specifically designed to meet the needs of credit unions.
BSA/AML Compliance: Verafinís anti-money-laundering module automates regulatory reporting and identifies suspicious activity which means significant productivity improvement and decreased cost of compliance.
  • Currency Transaction Reporting
  • Suspicious Activity Detection/Reporting
  • BSA Record Keeping
Customer Due Diligence: Verafinís know your customer module provides customer risk scoring and watch list checking which means decreased regulatory, operational and reputation risk.
  • Customer Risk Scoring
  • Watch List Checking
Fraud Detection: Verafinís fraud detection module uses sophisticated intelligent agents to identify unusual activity and reduce fraud losses.
  • Debit Fraud
  • Check Fraud
  • Account Fraud
Investigative Tools: Verafinís investigative tools provide auditable processes to detect, investigate and manage suspicious activity and reporting. This helps to ensure compliance and strict adherence to regulatory reporting requirements.
  • Case Management
  • Link Analysis

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