COCC of Avon,Conn., said it has contracted with Verafin Inc. of St. John's,Newfoundland, to provide fraud detection and anti-money launderingsolutions to the core processing data center's credit union andcommunity bank clients.
|The Canadian company's solutions have been integrated intoCOCC's .Net core processing and e-banking platforms, providinganalytics and automation to detect crime and ensure compliance, thecompanies said.
|COCC serves 167 financial institutions, including 39 creditunions, and runs a service bureau based on Open Solutions Inc.'score processing software.
|Verafin said it now serves nearly 600 financial institutions andis a provider of Bank Secrecy Act, fraud detection and AMLsolutions to more than 40 credit union leagues and associations andCUNA Strategic Services.
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