Case Study: Leading Financial Institution prevents over $55,000 in fraud loss with Verafin

Leading Financial Institution - Customer Case Study

Leading Financial Institution, a $10B+ financial institution based in California, was struggling to identify fraud as its customer base rapidly expanded. The team had often relied on customer contact to uncover suspicious activity and needed a more proactive way to detect financial crime. Verafin’s fraud detection analytics and FRAMLx collaboration tools were used to help the institution spot unusual account activity and investigate criminal rings earlier.

With Verafin, the institution gained case management and cross-institutional information-sharing capabilities that helped its team connect related accounts, coordinate investigations, and work with other financial institutions to stop fraud faster. Verafin helped the customer prevent over $55,000 in potential losses in just one month, reduced the time fraud could go undetected from weeks or months to much less, and even supported the identification and arrest of a multi-institution crime ring.