Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Verafin releases FRAML dashboard
HOLLYWOOD, Fla. (3/23/11)—Verafin, a compliance, anti-money laundering (AML) and fraud detection solution provider, has rolled out Winter ’11, a software “dashboard” that can give up-to-the-minute information on anti-fraud and AML (FRAML) compliance. Verafin is a CUNA Strategic Services Provider. “Over the last few years, analysts and industry experts have predicted the convergence of fraud and AML” said Jamie King, CEO and president of Verafin. “When we set out to create a major new release of Verafin we went to our customers to find out what would help them work more efficiently. King said the FRAML dashboard came directly from customer feedback. “From customer research, to product development and usability testing, we have worked to ensure this Winter ’11 release provides AML and anti-fraud professionals with the right mix of information and tools to manage their Bank Secrecy Act compliance and financial crime detection obligations,” he said. Verafin’s consolidation of anti-fraud and AML, called FRAML, leverages artificial intelligence and pattern recognition technology to immediately identify suspicious behavior and root out potential fraudsters and money launderers. Using a common underlying technology with separate analytics and configuration parameters for fraud and money laundering detection simplifies the tasks of system tuning and ongoing administration. Winter ‘11 provides a central repository where investigators can access information about past or ongoing investigations and a more holistic view of activity that is potentially fraudulent or indicative of money laundering. Winter ’11 includes improved debit fraud analytics, expanded reporting capabilities, improved customer and vendor risk management, and additional support for customer watch lists.
Other Resources

RSS





print
News Now LiveWire
Which Children's Miracle Network Hospital is the winner of @CUDirect's 20 for 20 grand prize? Find out Tuesday.
6 hours ago
Gas prices have fallen for a record 88 days in a row says @AAAnews via @washingtonpost http://t.co/c52VTdqHEB
8 hours ago
.@TheNCUA releases regulatory modernization initiative results (PDF link) http://t.co/pgLZe4aget
8 hours ago
#FinCEN seeks nominations of FIs, trade groups for membership on Bank Secrecy Act advisory group http://t.co/l5w58c277W
9 hours ago
MI pediatric dentist pledges $20K match to Hurley Children's Hospital if it wins @CUDirect's 20 for 20 http://t.co/Eq2nIPm6jo
10 hours ago