RiskTech Forum

Florida Bankers Association Chooses Verafin To Help Protect Its Members From Financial Crime

Posted: 7 December 2012  |  Source: Verafin


Verafin Inc. today announced that the Florida Bankers Association (FBA) has chosen to exclusively partner with Verafin, endorsing its industry-leading Fraud Detection and Anti-Money Laundering (FRAML™) software suite to protect its over 300 member banks from the damages of financial crime.

“One of the most important things we can do is offer our members the best available technology to help protect themselves and their customers from financial crime,” said Florida Bankers Association President and CEO Alex Sanchez. “To do that, we are incredibly excited to be partnering with Verafin, an industry leader and a company that is dedicated to delivering state-of-the-art technology that will help our banks achieve their goals.”

Verafin has forged a reputation in the world of financial crime detection software by applying the latest advances in artificial intelligence to the analysis of customer behavior to detect anomalies. Verafin’s FRAML™ software suite also brings together fraud detection with anti-money laundering and BSA compliance efforts to give users an enterprise view of customer activity, helping financial institutions prevent crime more efficiently and effectively.

“Our relationship with the FBA is very exciting,” says Neil Chaulk, VP of Business Development at Verafin. “Listening to banks from coast-to-coast, we continue to hear about rising levels of fraud and the pressure of keeping pace with the changing regulatory landscape. Partnering with the FBA provides an excellent opportunity for us to work with banks across the state to help them stay a step ahead of financial criminals, while also ensuring they are fully prepared to meet the latest regulatory requirements.”