Florida Bankers Association Chooses Verafin to Help Protect Its Members from Financial Crime

ST. JOHN’S, Newfoundland--(BUSINESS WIRE)--Verafin, Inc. today announced that the Florida Bankers Association (FBA) has chosen to exclusively partner with Verafin, endorsing its industry-leading Fraud Detection and Anti-Money Laundering (FRAML™) software suite to protect its over 300 member banks from the damages of financial crime.

“Our relationship with the FBA is very exciting”

“One of the most important things we can do is offer our members the best available technology to help protect themselves and their customers from financial crime,” said Florida Bankers Association President and CEO Alex Sanchez. “To do that, we are incredibly excited to be partnering with Verafin, an industry leader and a company that is dedicated to delivering state-of-the-art technology that will help our banks achieve their goals.”

Verafin has forged a reputation in the world of financial crime detection software by applying the latest advances in artificial intelligence to the analysis of customer behavior to detect anomalies. Verafin’s FRAML™ software suite also brings together fraud detection with anti-money laundering and BSA compliance efforts to give users an enterprise view of customer activity, helping financial institutions prevent crime more efficiently and effectively.

“Our relationship with the FBA is very exciting,” says Neil Chaulk, VP of Business Development at Verafin. “Listening to banks from coast-to-coast, we continue to hear about rising levels of fraud and the pressure of keeping pace with the changing regulatory landscape. Partnering with the FBA provides an excellent opportunity for us to work with banks across the state to help them stay a step ahead of financial criminals, while also ensuring they are fully prepared to meet the latest regulatory requirements.”

About Florida Bankers Association

The Florida Bankers Association (FBA), one of Florida’s oldest trade associations, was established in 1888 to advocate on behalf of Florida banks and promote the banking industry in this state. The FBA is composed of more than 300 banks and financial institutions ranging in size from small community banks and thrifts, to medium sized banks operating in several parts of the state, to large regional financial institutions that are headquartered in Florida or outside the state. The association is governed by a 39-member board of directors and staffed by 20 full-time employees. The loyalty, enthusiasm and commitment to Florida’s banking industry by FBA members enables the association to successfully fulfill its mission.

About Verafin

Verafin is a leader in enterprise fraud detection and anti-money laundering solutions (FRAML™) for financial institutions across North America. Its software utilizes advanced behavior-based analytics that allows banks and credit unions to stay a step ahead of cutting edge fraud trends and the BSA, USA PATRIOT Act, and FACTA compliance landscape. Verafin is the exclusive provider of fraud detection and BSA/AML software for the California Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, CUNA Strategic Services and has industry endorsements covering 44 states across the U.S. For more information, visit www.verafin.com, email FRAML@verafin.com or call 1-866-781-8433.