Case Study: Midwestern Regional Bank streamlines BSA/AML and fraud management with Verafin

Midwestern Regional Bank - Customer Case Study

Midwestern Regional Bank, a $6.5B regional bank in Ohio, needed a more efficient way to manage BSA/AML, fraud, risk scoring, and case management. Its existing process relied heavily on manual work and paper-based case handling, creating inefficiencies and leaving room for error. The bank also wanted to move beyond a rules-based approach that caused staff to review the same non-suspicious customers each month.

Verafin provided behavior-based fraud detection and AML software with built-in analytical configurations, case management, and an intuitive dashboard. The bank said Verafin’s culture fit and customer support helped seal the deal, and the platform has already simplified workflows, reduced unnecessary alerts, and given staff more insight into customer behavior. While still early in its rollout, Midwestern Regional Bank reported that the solution is easy to learn, quick to train on, and is already freeing up valuable time with a strong comfort level in how Verafin sets analytic parameters.

Midwestern Regional Bank