Wednesday, December 15, 2010 9:57 AM

http://www.istockanalyst.com/article/viewiStockNews/articleid/4746988

COCC, a provider of technology services for financial institutions, and Verafin, Inc., a provider of compliance, anti-money laundering and fraud detection software, have announced a partnership and the availability of Verafin's fraud detection and anti money laundering software to COCC and its financial services customers across the northeastern US.

Verafin is integrated with COCC's core banking and eBanking platforms, providing financial institutions with the necessary visibility and regulatory compliance to deter financial crime. Verafin is available to COCC customers.

Verafin is an integrated and intelligent fraud detection and anti-money laundering solution that combines the capability to detect and act upon various forms and levels of fraud and money laundering, while providing complete visibility into customer activity and ensuring comprehensive compliance reporting.

"Verafin's integrated approach to fraud and AML coupled with their artificial intelligence and 'big picture' views of consumer activities will definitely increase our client institutions' efficiency as they mitigate the risk of financial crime," said Joe Trafton, senior vice president and Chief Strategies Officer at COCC. "We are excited by the opportunity to deliver solid competitive advantages to our clients by integrating our two highly advanced technology platforms."

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