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Digital Identity, Security & Online Fraud

United Bank implements Verafin AML, fraud detection software

Tuesday 8 January 2019 | 10:32 AM CET

United Bank has selected Verafin to implement the company`s solution, a cloud-based BSA/AML and fraud detection (FRAMLx) software.

Verafin’s FRAMLx solution is a cloud-based, enterprise BSA/AML and fraud detection platform that uses artificial intelligence (AI) and machine learning to present financial crime investigators with highly-targeted multi-channel AML and fraud alerts. The product is also equipped with case management functionality, automated regulatory reporting, and 314(b) information sharing tools.

Powered by cloud technology, Verafin reduces false positive alerts, offers advanced data visualization, and enables collaborative investigations to help customers stay a step ahead of crime, as well as the BSA/AML compliance landscape. Verafin is provider for the Texas Bankers Association, Western Bankers Association, Florida Bankers Association, Illinois Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services.

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