Source: National Cyber Security – Produced By Gregory Evans
ST. JOHN’S, Newfoundland and Labrador–(BUSINESS WIRE)–Verafin Inc. unveils FRAMLx, an innovative enhancement to its FRaud detection and Anti-Money Laundering (FRAML) software. Powered by technology available only in the Verafin Cloud, FRAMLx delivers advanced cross-institutional analysis to detect suspicious activity across multiple institutions. FRAMLx is an exclusive Verafin advantage and this technology is the first of its kind to be offered by any fraud and AML software provider. We’re so excited to announce FRAMLx and show our customers how it can help them identify suspicious activity that would otherwise go undetected,” says Jamie King, CEO. “When we started the business, we set out to be the industry leader in the fight against financial crime. With FRAMLx and cross-institutional analysis we have taken that goal a step further. It’s a really exciting time for all of us.” FRAMLx will enable institutions to gain more insight on customer behavior, collaborate in their investigations, and more accurately detect suspicious activity. This innovation fills a major gap in fraud detection and anti-money laundering efforts as it provides a broad, holistic view over multiple financial institutions through information sharing provided by Section 314(b) of the USA PATRIOT Act. Verafin will make it much more difficult for […]
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