Verafin

Verafin Suite

7.0 /10

What is Verafin Suite?

Verafin is a consolidated financial crime detection and complaince automation solution that helps financial institutions maximize their technology investments by helping to automate and strengthen BSA/AML and anti-fraud program processes.

Company Details

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Verafin Suite Ratings

Real user data aggregated to summarize the product performance and customer experience.

81 Likeliness to Recommend

87 Plan to Renew

74 Satisfaction of Cost Relative to Value

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Emotional Footprint Overview

+77 Net Emotional Footprint

The emotional sentiment held by end users of the software based on their experience with the vendor. Responses are captured on an eight-point scale.

How much do users love Verafin Suite?

13% Negative

17% Neutral

70% Positive

Pros

Respectful
Transparent
Security Protects
Caring

Cons

Less Efficient Service

Feature Ratings

Average 83

Transaction Monitoring

Credit Risk Management

Market Risk Management

Fraud Management

Cheque Management

Anti Money Laundering

Policy Management

Stress Tests

Asset Liability Management

Analytics and Reporting

Regulatory Compliance and Audit

Vendor Capability Ratings

Average 78

Availability and Quality of Training

Quality of Features

Business Value Created

Breadth of Features

Product Strategy and Rate of Improvement

Ease of Customization

Ease of Implementation

Ease of IT Administration

Vendor Support

Usability and Intuitiveness

Ease of Data Integration

Verafin Suite Reviews

Ellie B.

Role: Information Technology
Industry: Technology
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Sep 2022

Best fraud management software.

Likeliness to Recommend

8 /10

What differentiates Verafin Suite from other similar products?

The merchandise is simple to use and understand. Offers us a clear image of the client that we didn’t have before the mistreatment of this product. It conjointly helps our CSR team in creating vital selections additional easily, arming them with facts concerning the transaction versus simply guesses.

What is your favorite aspect of this product?

I love that verafin covers all the bases once it involves verification for new business customers at our branch. It breaks down all the sections well and tho’ it’s lengthy, it’s thorough. It’s easy to use, integrates seamlessly with Magento, and saves us money, chargebacks are a factor of the past. Particularly like that, you can ask for a review if something doesn’t seem right with dealing and you want it double-checked.

What do you dislike most about this product?

The sole step that I disliked was once opening an account, having to manually go back to attach numbers and link it rather than having that automatically bring it in when the questionnaire is completed. I want this could be efficient in the future if possible.

What recommendations would you give to someone considering this product?

Verafin suite offers us the peace of mind that we’ll not have any chargebacks. It permits us to deal with a lot of important issues. Before verafin suite, we’d spend countless hours doing the work ourselves. Also, the verafin suite is integrated into your shopping cart if you have a decent IT team. I counsel this application.

Pros

Caring
Respectful
Altruistic
Generous Negotitation

Dennis N.

Role: Finance
Industry: Manufacturing
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Jul 2022

Consolidated Risk Assessment Platform.

Likeliness to Recommend

10 /10

What differentiates Verafin Suite from other similar products?

Verafin Suite is a quality application that evaluates all the financial risks that a business carries, and this increases the planning power of the company

What is your favorite aspect of this product?

Verafin Suite is the progressive risk assessment platform, that allows businesses to have the solid investment plans.

What do you dislike most about this product?

Verafin Suite has streamlined the accountability and the proficiency of the firm, with substantial allocation of resources.

What recommendations would you give to someone considering this product?

Verafin Suite is a qualified application that allows businesses to increase the financial efficiency of the firm

Pros

Helps Innovate
Enables Productivity
Unique Features
Efficient Service

Verafin Suite

What is Verafin Suite?

Company Details

Need Assistance?

Verafin Suite Ratings

81 Likeliness to Recommend

87 Plan to Renew

74 Satisfaction of Cost Relative to Value

Emotional Footprint Overview

+77 Net Emotional Footprint

How much do users love Verafin Suite?

Pros

Cons

Feature Ratings Average rating of all product features, some of which may not be shown below

Transaction Monitoring Includes Know Your Customer (KYC), cash deposits and withdrawals, wire transfers, and ACH activity management.

Credit Risk Management Includes credit assessment, credit scoring, and credit risk analysis.

Market Risk Management Includes equity risk, currency risk, and commodity risk.

Fraud Management Includes identity theft protection, fraud alerts, payer authentication, and fraud investigations.

Cheque Management Includes cheque printing, cheque tracking, cheque payment processing, and cheque verification.

Anti Money Laundering Includes suspicious behavior identification, currency transaction reporting, case management and customer due diligence checks.

Policy Management Solution centralizes policies, standards, and procedures mapped to regulations or best-practices (PCI-DSS, ISO/IEC, HIPAA, etc.) with built-in templates.

Stress Tests Includes crisis simulations, scenario generation, and scenario analysis.

Asset Liability Management Includes interest rate risk, liquidity risk, and funding and capital management.

Analytics and Reporting Includes historical & real-time dashboard visualizations, detailed & summary reporting and easy data extraction for data analysis.

Regulatory Compliance and Audit Ability to adhere to laws, regulations, guidelines, and specifications relevant to the business. Ability to store documents and trails for audit access.

Vendor Capability Ratings Average rating of all vendor capabilities, some of which may not be shown below

Availability and Quality of Training Effective and readily available training enables users to get the most out of the software you've chosen. Use this section to make sure your vendor's training programs and materials measure up.

Quality of Features Feature quality is just as important as quantity. Use this data to determine if this product will do what you're purchasing it to do, easily, intuitively, reliably, and effectively.

Business Value Created Software needs to create value for employees, customers, partners, and, ultimately, shareholders. This data expresses user satisfaction - or lack thereof - with the product's business value.

Breadth of Features Users prefer feature rich software that enables them to perform diverse series of tasks. This data expresses user satisfaction with the product's breadth of features.

Product Strategy and Rate of Improvement Vendors who don't stay on top of emerging needs and trends won't enable you to meet your business goals. Use this data to separate innovators from imposters.

Ease of Customization Don't get bogged down in a difficult customization; use this data to make sure you can easily achieve the functionality you need for your particular situation.

Ease of Implementation Successfully implementing new software is necessary to realize its full value and promote end user adoption. This data indicates whether or not the product is easy to implement.

Ease of IT Administration This data indicates whether IT personnel will be able to resolve issues and perform configurations efficiently and effectively.

Vendor Support The importance of vendor support will vary for each organization depending on internal capabilities, but there will always be issues that only the vendor can resolve.

Usability and Intuitiveness End user learning curves cost the organization money. Pay attention to your end users' technical ability to determine how important UX is in your purchase.

Ease of Data Integration Use this data to determine whether the product will cause headaches or make data integration easy.

Verafin Suite Reviews

Ellie B.

Best fraud management software.

Likeliness to Recommend

Pros

Dennis N.

Consolidated Risk Assessment Platform.

Likeliness to Recommend

Pros

Feature Ratings

Transaction Monitoring

Credit Risk Management

Market Risk Management

Fraud Management

Cheque Management

Anti Money Laundering

Policy Management

Stress Tests

Asset Liability Management

Analytics and Reporting

Regulatory Compliance and Audit

Vendor Capability Ratings

Availability and Quality of Training

Quality of Features

Business Value Created

Breadth of Features

Product Strategy and Rate of Improvement

Ease of Customization

Ease of Implementation

Ease of IT Administration

Vendor Support

Usability and Intuitiveness

Ease of Data Integration