Name: Verafin by Nasdaq
Rating: 10 (1 reviews)
Author: Nasdaq

Help Desk

Web and Video Conferencing

Customer Support

Augmented Reality Development

Performance Testing

Development

School Management

Education

Business Intelligence (BI)

Collaboration

Data Analytics  and BI Services

Data Discovery and Visualization

Digital Rights Management (DRM)

Document Management

Enhanced 911 (E911)

Enterprise Generative AI

Integrated Workplace Management (IWMS)

Payment Facilitation

Enterprise

Accounting

Trust Management

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Corporate Volunteering

Employee Monitoring

HR Management

Payroll

Recruitment Agency

Stock Option Plan Administration

Talent Intelligence

Talent Management

Video Interview

Workforce Analytics

Workforce Management

Human Resources

3D Printing

AI Governance

Application Performance Management (APM)

Cloud Migration

Cloud Storage

DevSecOps

Firewall

Fraud Detection

Hadoop-Related

Integration Platform as a Service (iPaaS)

Network Performance Monitoring

Product Implementation Services

Robotic Process Automation (RPA)

Telecom Expense Management (TEM)

Web Scraping

Zero Trust Security Solutions

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Appointment Scheduling

Audience Engagement

Content Management

Cross-Channel Campaign Management

Email Marketing

Email Testing

Employee Advocacy

Enterprise Marketing Management

Marketing Automation

Social Media Advertising

Social Media Management

Survey & Forms Building

Web Analytics

Wholesale Marketplace

Marketing

Job Site Management

Project Management

Waste Management

Professional Services

Customer Relationship Management (CRM)

Social Commerce

Sales

Cloud Access Security Brokers

Secure Access Service Edge (SASE)

User and Entity Behavior Analytics (UEBA)

Security

Camp Management

Digital Forensics

Estate Planning

Vertical-Specific

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FRAMLx is a financial crime management platform offered by Verafin Solutions ULC. According to the vendor, FRAMLx aims to strengthen anti-financial crime efforts and offers features such as AI-powered fraud detection, compliance with AML/CFT regulations, high-risk customer management, and sanctions screening. This solution caters to financial institutions of all sizes, including community banks, credit unions, regional banks, and large national banks. Professionals and industries such as financial institutions, banks, credit unions, and financial services providers can benefit from the comprehensive capabilities of FRAMLx.

## Key Features

**Fraud Detection and Management**: FRAMLx utilizes advanced AI and machine learning algorithms to detect various fraud schemes and scams across multiple channels. It provides an integrated system for analyzing customer activity and preventing financial losses, including a check imaging functionality to identify potentially fraudulent check activity.

**BSA/AML Compliance and Management**: FRAMLx offers robust features to enhance regulatory compliance by improving the detection, investigation, and reporting of suspicious activities. It provides targeted analytics for effective financial crime detection, monitors transactions across multiple channels, and proactively alerts to potential money laundering, terrorist financing, and other suspicious activities.

**High-Risk Customer Management**: FRAMLx enables financial institutions to manage high-risk customers efficiently through intelligent risk segmentation. It allows customization of an Account Opening Questionnaire (AOQ) to collect relevant information and automatically assigns risk scores to high-risk customers for effective risk assessment. Continuous monitoring between Enhanced Due Diligence (EDD) reviews is also supported.

**Sanctions Screening & Management**: FRAMLx utilizes intelligent screening analytics and targeted sanctions screening to minimize false positives. It assists in strengthening audits and examinations by providing in-application name sensitivity testing, detailed audit logs, and comprehensive reporting capabilities for effective sanctions compliance.

**DAILY 314(b)-LIST VERIFICATION**: FRAMLx ensures that investigators always work with registered contacts by providing daily verification of the 314(b)-registration list.

**CONFIDENTIAL COLLABORATION**: FRAMLx provides a secure environment for confidential collaboration between investigators at 314(b)-registered financial institutions. It supports one-to-one and group collaborations, ensuring privacy and control over shared information.

**GROUP COLLABORATIONS**: FRAMLx enables investigators to share information with investigators from multiple institutions in a single group thread, facilitating a broader understanding of potential criminal activities affecting a larger group.

**DOCUMENT & FILE SHARING**: FRAMLx offers a secure file-sharing capability that allows investigators to upload and share relevant documents and files, enhancing the efficiency and effectiveness of investigations.

**INTEGRATED CASE MANAGEMENT**: FRAMLx provides integrated case management functionality, allowing investigators to create audited and tracked investigations. It supports the upload of related files, task assignment to other users, and decision documentation within a centralized location.

**CENTRALIZED WORKFLOW DASHBOARD**: FRAMLx provides investigators with a centralized workflow dashboard to track the status of incoming and outgoing 314(b) requests. This dashboard streamlines collaboration and reporting, ensuring efficient management of investigations.

Basic

Growth

ComplyCube

Ondato

Verafin by Nasdaq

Anti-Money Laundering (AML)

Nasdaq

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Anti-Money Laundering (AML) Software

Verafin by Nasdaq

Overview

What is Verafin by Nasdaq?