January 25, 2015 6:02 PM ET

Internet Software and Services

Company Overview of Verafin Inc.

Company Overview

Verafin Inc. provides enterprise fraud detection and anti-money laundering solutions for financial institutions in North America. The company offers Verafin, a Software-as-a-Service solution that allows banks and credit unions to scan customers and transactions against watch lists to identify entities that may be involved in possible money laundering or terrorist financing activities; and analyze various frauds, such as anti-money laundering, check kiting, and identity theft, as well as debit/credit card, remote banking, new account, stolen check, inactive account (employee), and loan frauds. It product also provides investigation and reporting solutions for currency transaction and suspicio...

570 Newfoundland Drive

St. John's, NF A1A 5B1

Canada

Founded in 2003

Phone:

709-368-9980

Fax:

709-368-3559

Key Executives for Verafin Inc.

Co-Founder
Co-Founder and Director of Product Marketing
Co-Founder and Vice President of Product Development
Director of Finance
Chief Operating Officer
Compensation as of Fiscal Year 2014.

Verafin Inc. Key Developments

Verafin Inc. Announces New Exclusive Partnership with the Illinois Bankers Association

Verafin Inc. announced a new exclusive partnership with the Illinois Bankers Association (IBA). After an extensive review of fraud detection and AML software vendors, the IBA chose the company and its industry-leading FRaud detection and Anti-Money Laundering (FRAML) software suite to protect its vast network of member banks from the damages of financial crime. The company's FRAML software suite brings fraud detection, anti-money laundering and BSA compliance together on one advanced platform to give users an enterprise view of customer activity, helping financial institutions prevent crime efficiently and effectively.

Illinois Bankers Association Chooses Verafin to Help Protect its Members from Financial Crime

Verafin Inc. announced a new partnership with the Illinois Bankers Association (IBA). After an extensive review of fraud detection and AML software vendors, the IBA chose Verafin and its FRaud detection and Anti-Money Laundering (FRAML) software suite to protect its vast network of member banks from the damages of financial crime. Verafin has created a competitive reputation in the world of financial crime detection software by applying the latest advances in artificial intelligence to the analysis of customer behavior to detect anomalies. Verafin's FRAML software suite brings fraud detection, anti-money laundering and BSA compliance together on one advanced platform to give users an enterprise view of customer activity, helping financial institutions prevent crime efficiently and effectively.

Verafin Announces Strategic Alliance with Harland Financial Solutions

Verafin Inc. announced a strategic alliance agreement with Harland Financial Solutions. Harland Financial Solutions serves over 6,000 financial institutions with comprehensive software and services that help drive performance and profitability. Verafin enables fraud detection and BSA/AML compliance professionals to quickly and effectively respond to suspicious activity. Innovative, powerful, and easy-to-use, the FRAML software is a complete package, from suspicious activity alert generation to integrated case management functionality and fully automated BSA regulatory reporting.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 15, 2014
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