Based on the terms of the agreement, Harland Financial will extend its Enterprise Fraud Management technology to currency transaction reporting within its teller systems.

Verafin’s FRAMLsoftware enables financial institution to detect fraud and BSA/AML compliance professionals to respond to suspicious activities.

Commenting on the partnership, Verafin alliances vice president Andrew King said there are clear synergies between the company and Harland Financial Solutions to deliver advanced technology solutions to the financial services industry.

"Harland Financial Solutions’ core processing solutions, combined with our FRAML software, will help financial institutions increase their efficiencies and proactively protect themselves, and their customers, from even the most advanced fraud and money laundering schemes," King added.