Berkshire Bank Proactively Analyzes Fraud, Expedites Investigations and Resolves Critical Threats. VyStar Credit Union Realizes Time and Cost Savings from Automating Fraud Investigations
MELVILLE, N.Y., September 24, 2018 – Verint® Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company™, continues to experience significant demand for its integrated solutions for the global banking market. Verint’s Security, Surveillance and Fraud Investigation offerings enable financial leaders to integrate fraud mitigation and risk management to streamline operations and realize stronger security postures.
The banking environment faces a new risk paradigm—one that encompasses cyber and physical threats, such as ATM skimming, identity theft, data breaches, scams, and phishing. These types of threats can lead to significant losses, so banks need to focus on minimizing fraud attempts and reducing the risks for damage. Additionally, regulations, such as the General Data Protection Regulation (GDPR), require compliance-driven and data protection technology.
“Verint solutions help us proactively analyze fraud, expedite investigations and find better solutions to resolve critical threats,” said Tina Pickup, security officer, Berkshire Bank.
As a trusted partner to the financial services market, Verint delivers technology that empowers banks to adopt a more proactive approach to risk management and security. Verint solutions allow organizations, like VyStar Credit Union, Berkshire Bank, and many others, to leverage data to identify potential risks and create higher levels of awareness across the enterprise.
“Automating our fraud investigations with Verint solutions has helped our fraud department achieve a time savings of nearly 85 percent over previous manual methods. This savings continually drives down fraud-related costs,” said Kevin Owens, vice president of security and safety, VyStar Credit Union.
Verint’s Security, Surveillance and Fraud Investigation offerings aid financial institutions in identifying security threats and vulnerabilities in near real-time, helping security personnel mitigate risk, ensure operational compliance, and improve fraud investigations. With technologies like Verint’s video software management platform for video monitoring, recording and analysis, financial institutions gain stronger protection from loss, while enhancing the customer experience.
“As more banks turn to mobile services, kiosk-based locations, and more customer-centric branch operations, there are greater risks for fraud and loss,” comments Verint’s Matt Tengwall, vice president and general manager, banking and retail solutions. “Increasingly sophisticated fraud techniques require organizations to pursue new approaches to prevent and detect such activities, and Verint leads the way in delivering fraud solutions needed to help mitigate these risks.”
To learn more about Verint’s robust portfolio of solutions and services for the financial services sector, visit the company at booth #1917 at the Global Security Exchange (GSX) by ASIS International Conference and Expo in Las Vegas, or view the company’s fraud mitigation eBook.
About Verint Systems Inc.
Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization, security intelligence, and fraud, risk and compliance. Today, over 10,000 organizations in more than 180 countries—including over 85 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions. Learn more about how we’re creating A Smarter World with Actionable Intelligence® at www.verint.com.
This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2018, our Quarterly Report on Form 10-Q for the quarter ended July 31, 2018, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.
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