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What is Nasdaq Verafin?

Nasdaq Verafin stands at the forefront of financial crime prevention by combining AI-driven technology with a collaborative consortium approach to deliver unmatched fraud detection and AML compliance. The platform addresses a wide spectrum of financial crimes including payments fraud, check fraud, wire fraud, online account takeovers, and loan fraud by analyzing over 1.1 billion transactions weekly from hundreds of sources. Its powerful consortium analytics enable institutions to pool their data, uncover hidden patterns, and detect fraud more accurately than isolated systems. Verafin’s suite of products also supports high-risk customer management, sanctions screening, and government benefits fraud detection, making it an all-encompassing solution for risk mitigation. Notably, the platform helped a major U.S. financial institution prevent nearly $10 million in potential fraud in just two months, showcasing its impact. Nasdaq Verafin also actively educates the financial community with reports, webinars, and eBooks on cutting-edge threats like human trafficking and emerging payment fraud trends. Industry recognition, such as the Chartis Risk Tech 100 award, highlights its innovative technology and market leadership. Their AI capabilities improve investigative workflows and reduce manual effort, which is critical as fraud schemes become more complex. Nasdaq Verafin continuously evolves its solutions to tackle new fraud typologies, including application fraud, cybercrime, and mule account detection. This dedication to innovation and collaboration makes Nasdaq Verafin a trusted partner for institutions looking to protect their assets and maintain regulatory compliance.

What is Clari5?

Clari5 stands out as a leader in the realm of Enterprise Fraud Risk Management and Anti-Money Laundering Systems, garnering global recognition for its innovative product offerings. By adopting a 'central nervous system' methodology, Clari5 effectively aids financial institutions in their fight against financial crime. Its unique approach mimics human cognitive processes to integrate intelligence across the enterprise, providing timely and accurate insights during critical transaction moments. The system is designed to be user-friendly, allowing for seamless integration without the need for system replacement, characterized by a brief implementation period and rapid return on investment. Utilizing the advanced capabilities of AI, machine learning, and real-time decision-making, Clari5 successfully oversees more than 500 million accounts. Trusted by 15 prominent banks worldwide, Clari5 plays a pivotal role in enhancing their fraud risk management initiatives, demonstrating its vital importance in a complex financial landscape. Furthermore, the platform's adaptability ensures that it can evolve with the changing needs of the banking sector.

Media

Media

Integrations Supported

FPS GOLD Banking Software

Integrations Supported

Finacle

API Availability

API Availability

Has API

Pricing Information

Pricing not provided

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

SaaS
iPhone
Windows
Linux

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

24 Hour Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

On-Site Training

Company Facts

Organization Name

Nasdaq

Date Founded

1971

Company Location

United States

Company Website

verafin.com

Company Facts

Organization Name

Clari5 (CustomerXPs)

Date Founded

2006

Company Location

Washington

Company Website

www.clari5.com

Categories and Features

AML

Behavioral Analytics
Case Management
Investigation Management
SARs

Check Fraud

Not specified

Fraud Detection

Not specified

Categories and Features

Fraud Detection

Access Security Management
Check Fraud Monitoring
Custom Fraud Parameters
For Banking
For Insurance Industry
Internal Fraud Monitoring
Investigator Notes
Pattern Recognition
Transaction Approval

RegTech

Not specified

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