Case Study: Fairfield County Bank improves BSA/AML compliance and alert detection with Verafin

Time for a Change Making the Switch from AML Manager to Verafin

Fairfield County Bank, a $1.5B institution in Ridgefield, CT, was struggling with its core-provider AML Manager, which created inefficient CTR preparation, duplicate suspicious activity alerts, limited configuration options, and exam concerns. The bank needed a better BSA/AML platform that could improve alert quality, integrate more effectively with its core, and streamline ongoing monitoring and reporting.

Verafin replaced the legacy system with a more intuitive, all-in-one BSA/AML solution that improved CTR processing, alert review, case management, and connection analysis. Fairfield County Bank reported faster support, easier training on its own data, fewer manual steps, better visibility into customer relationships, and the ability to file SARs based on alerts and information found in Verafin; the bank also saw “much improvement” in exam results after implementing Verafin.

Fairfield County Bank

Drew Cunningham

Bsa Specialist