Share One, a developer of credit union software solutions, has entered into a strategic business partnership with Verafin, a provider of anti-money laundering (AML) and anti-fraud solutions.
Verafin helps protect credit unions and banks from the financial, compliance and reputational risks associated with fraud and money laundering. Its bank secrecy act and anti-fraud solution automates risk scoring, suspicious activity detection, watch list scanning, case management, compliance reporting and record keeping, and vendor management.
Share One said that the selection of Verafin is based on a number of factors, including the ability of Verafin to integrate with the NewSolutions system and to support the compliance and risk management needs of Share One clients. Under the agreement, Share One will recommend Verafin to its NewSolutions clients.
Daryl Tanner, president and CEO of Share One, said: “Share One chooses our business partners with careful consideration of the total value to our clients, especially the end-user experience, before we elect to enter into any agreement.
“NewSolutions boasts a flexible, service-oriented architecture, facilitating a tight integration with third-party solutions. We have tested Verafin and the NewSolutions interface and are confident that our clients will be pleased with the efficient results.”
Jamie King, president of Verafin, said: “Share One is committed to providing their credit union customers advanced technology solutions. By choosing Verafin, they can now offer a BSA/AML and fraud solution that has the sophistication and intelligent analytics lacking from many other solutions.
“We’re looking forward to working with Share One to help credit unions ensure regulatory compliance and protect their customer’s financial information.”
