and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. The cookie is used to store if a user has or has not consented to the use of cookies. At the time, Verafin CEO Jamie King. Nasdaqs and Analytical cookies are used to understand how visitors interact with the website. Verafins innovative anti-money laundering and fraud platform and client breadth. NEW YORK and ST. JOHN'S, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions.The agreement to acquire Verafin was announced on November 19, 2020.. More than 9 companies reportedly use Verafin products in their tech and software stacks, Find your B2B customer within minutes using affordable, accurate contact data from Datanyze, Verafin headquarters are located in 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada, Verafins main industries are: Financial Software, Software, Verafin appears in search results as Verafin, Verafin Inc, Verafi Inc, International Organization for Standardization, Web Hypertext Application Technology Working Group. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Nasdaqs investment will help Verafin expand its Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Founders Brendan Brothers, Jamie King, Raymond Pretty. Robert WEBB, robert.webb@verafin.com 709.752.3050 ext. To track previous page view id and url. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Verafin, a Nasdaq company, is an industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Criminals perform illicit activity across multiple transaction channels and numerous financial institutions. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. LinkedIn sets this cookie to store performed actions on the website. www.verafin.com Contact Information Headquarters 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada (877) 368-9986 Verafin Profile and History We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. Connect with us on Social or feel free to contact us with any inquiries. Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. Verafin analyzes customer activity across multiple transaction channels, providing you with robust alerts that highlight a wide range of fraudulent scenarios and protect you against fraudsters targeting your institution and customers. The agreement to acquire Verafin was announced on November 19, 2020. The transaction is expected to increase revenue contribution from the highest-growth Market Technology and Investment Intelligence segment to 47% (from 45%) of total Nasdaq net revenue2 pro forma for the third quarter of 2020. Compare how recession-proof Verafin Usa is relative to the industry overall. However you may visit Cookie Settings to provide a controlled consent. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Nasdaq believes that thesenon-GAAPmeasures provide useful information to management and investors regarding certain financial and business trends relating to Nasdaqs financial condition and results of operations. Investors should not rely on any single financial measure when evaluating these businesses. The cookie is a session cookie and is deleted when all the browser windows are closed. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. What will they do with all the cash? Verafin respects your Forward-looking statements in this communication include, among other things, statements about the potential benefits of the transaction and Nasdaqs plans, objectives, expectations and intentions with respect to its business andVerafin. This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. operate, and combatting financial crime is central to achieving our goals. LinkedIn sets the lidc cookie to facilitate data center selection. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . Crossing Boundaries: The Expansive Threat of BEC, Do Not Sell My Personal Information (CA Residents Only). Scotiabank and BDC Venture Capital are the most recent investors. Verafin Cookie. We also use third-party cookies that help us analyze and understand how you use this website. New equity financing was provided by Spectrum Equitys current investing fund and Information Venture Partners (IVP) new fund with participation by new backers Northleaf Capital Partners, BDC Capital and Teralys Capital. measures, including organic revenue growth, non-GAAP EBITDA and ROIC. Analytical cookies are used to understand how visitors interact with the website. These cookies ensure basic functionalities and security features of the website, anonymously. Great journalism delivered straight to your inbox. Senior debt financing for the transaction was led by Wells Fargo Capital Finance and included Scotiabank in the syndicate. Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. Report incorrect company information. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Verafin provides artificial intelligence and machine learning to give you the ability to quickly uncover illicit activity, along with solutions to strengthen your end-to-end BSA/AML compliance program. Verafin is the exclusive provider forTexas Bankers Association, Western Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states. Forward-looking statements leader in financial technology, is a major vote of confidence and a significant win for the Province of Newfoundland and Labradors technology and innovation sector. Necessary cookies are absolutely essential for the website to function properly. Strengthens Verafin as a center of innovation and technology within the province of Newfoundland and. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. LinkedIn sets this cookie to store performed actions on the website. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. Get a D&B Hoovers Free Trial. LinkedIn sets this cookie to remember a user's language setting. These cookies track visitors across websites and collect information to provide customized ads. LinkedIn sets this cookie for LinkedIn Ads ID syncing. headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Verafin expects to deliver in excess of US$140million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth Legal Name Verafin Inc. Company Type For Profit. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. We are thrilled to welcome Verafins talented employees into the Nasdaq family and look forward to supporting local institutions in Newfoundland and Labrador to promote continued innovation.. will increase Verafins level of charitable giving as the company continues to grow. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests. ST. JOHNS, Newfoundland and Labrador--(BUSINESS WIRE)--Verafin, the worlds largest financial crime management software company, announced today the completion of a C$515 million equity and debt recapitalization. The intelligent technology solutions Verafin has created are second-to-none, and that is evident in the companys Excludes the impact of purchase accounting write-down on deferred revenue. Nearly 3,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. But opting out of some of these cookies may have an effect on your browsing experience. This cookie is used to store the user consent for the cookies in the category "Performance". Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. Verafin is the industry leader in Nasdaq is committed to growing Verafins business and creating opportunities for their employees. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. This combination meaningfully accelerates the evolution of our business mix toward highly Verafins results will be reported within Nasdaqs Market Technology segment. Nasdaq believes presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. Copy and paste multiple symbols separated by spaces. Create your Watchlist to save your favorite quotes on Nasdaq.com. Articles, Webinars, White Papers and more. existing regulatory technology and anti-financial crime solutions, which include its renowned Nasdaq Trade and Market Surveillance offering, its Buy-side Compliance product, as well as the Nasdaq Automated This cookie is used to store user's information to prepopulate the forms and track user's site usage. privacy. Risks and uncertainties include, among other things, Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other expectations with respect to Verafins business and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management's attention from Nasdaqs ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafins business relationships, operating results, and business generally. Verafin brings increased efficiency and confidence to the regulatory reporting process by automating the tedious but necessary tasks associated with initiating, completing and filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). Type a symbol or company name. These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. As potential liability shifts loom with possible implications for wire payments, As financial institutions implement more robust controls against schemes such as wire fraud, criminals respond by evolving their tactics and efforts against more vulnerable customer Fraudsters are uncompromising, often targeting seniors with cruel elder financial abuse tactics from romance and investment scams. Verafins innovative fraud and AML detection platform, combined with Nasdaqs. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. Verafin is the exclusive provider forTexas Bankers Association, Western Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Nasdaqs ability to secure regulatory approvals on the terms expected, in a timely manner or at all; Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other pioneer in anti-financial crime management solutions, today announced that they have entered into a definitive agreement for Nasdaq to acquire Verafin for US$2.75billion in cash, subject to customary adjustments. NEW YORK and ST. JOHNS, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions. Wachtell, Lipton, Rosen& Katz and Blake, Cassels& Graydon LLP served as legal advisors to Nasdaq. We also use third-party cookies that help us analyze and understand how you use this website. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. Microsoft Clarity cookie. Nov 25, 2022. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Software Updates. Used by Microsoft Advertising as a unique ID for visitors. supporting innovation and growth in St. Johns and Newfoundland and Labrador. Stores the Clarity User ID and preferences, unique to that site, on the browser. LinkedIn sets this cookie to remember a user's language setting. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial investment grade ratings. Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads, according to the user profile. At the core of Nasdaqs mission, we champion fairness and integrity in the markets that we build and in the broader financial ecosystem in which we