The agreement will facilitate the installation and implementation of Verafin for Synergent’s credit union users, reducing the costs and time related to deploying the software.
Verafin claimed that its behavior-based software will allow credit unions to maintain accurate reporting processes about financial criminal activities. Instead of the rules-based systems, Verafin uses artificial intelligence to search out unusual behaviors. With Verafin, one person is needed to oversee alerts and determine the best investigator.
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.”
