Thursday, May 20, 2010 Synergent is pleased to announce its partnership with Verafin, Inc., a leading provider of compliance, anti-money laundering (AML) and fraud detection software to the financial services industry. The organizations have signed a strategic alliance agreement that will facilitate the installation and implementation of Verafin for Synergent's credit union users, reducing the costs and time related to deploying the software.
"Synergent is committed to helping our users grow their credit unions and become more efficient," Gary Glenn, Senior Vice President of Synergent, said. "Verafin will eliminate the manual work involved in reviewing core system reports by generating qualified suspicious activity and fraud alerts so credit union employees have more time to focus on their members."
Many credit unions in New England still rely on manual systems to complete compliance tasks, but are moving towards automating compliance, BSA and fraud processes. Verafin's second generation behavior-based software allows credit unions to stay a step ahead of financial criminals and maintain efficient and accurate reporting processes. Instead of the rigid rules-based systems currently on the market, Verafin uses artificial intelligence to search out unusual behaviors. It not only helps institutions catch more suspicious activity, it changes the way compliance officers think about their daily processes. With Verafin, just one person is needed to oversee alerts and determine the best investigator.
"We are always happy to find a partner with values similar to ours. We're both committed to providing our customers with the best solutions and service," Jamie King, CEO of Verafin, said. "This partnership with Synergent means we can be confident that our customers will continue to receive exceptional service."
About Verafin, Inc.
Verafin, Inc. helps nearly 500 financial institutions across North America manage and automate many previously manual or complex functions, including: customer risk scoring, suspicious activity detection, watch list scanning, case management, compliance reporting, record keeping and vendor management. An innovation leader in second-generation anti-money laundering, anti-fraud, and compliance solutions, Verafin partnerships include more than 40 endorsements by national and state industry associations. For more information, visit www.verafin.com, email info@verafin.com, or call 1.866.781.8433.
About Synergent
Synergent, a subsidiary of the Maine Credit Union League, is a leader in providing innovative technology, business and service solutions to credit unions. Formed in 1971, today Synergent has over 125 employees within its four divisions, Technology Services, Card Services, Direct Marketing Services, and Check Processing and Support Services. For more information on Synergent, visit www.synergentcorp.com or call 1-800-341-0180. |
