verafin annual report

may be different from non-GAAP measures used by other companies. This cookie is used to record the user consent for the cookies in the "Advertisement" category. 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. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Verafin has raised a total of $454M in funding over 5 rounds. Analytical cookies are used to understand how visitors interact with the website. Founders Brendan Brothers, Jamie King, Raymond Pretty. LinkedIn sets this cookie to remember a user's language setting. LinkedIn sets this cookie for LinkedIn Ads ID syncing. return on invested capital, and IRR objectives. insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. Verafin has enjoyed tremendous growth in recent years, and its long-term vision of fighting financial crime through collaboration and cross-institutional analysis is fast becoming the industry standard for fraud detection and anti-money laundering (AML) regulatory compliance. This combination meaningfully accelerates the evolution of our business mix toward highly future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the proposed transaction; and the effect of the announcement or pendency of the transaction on Verafins business Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. local employment levels to fuel Verafins growth. Configurable Dashboards Manage and transform your information into key business insights. Sales bookings and deal size at the company each grew by. 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. What industry is the company in? Copyright 2019, Verafin Solutions ULC All rights reserved. Forward-looking statements Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. services enables clients to optimize and execute their business vision with confidence. Verafin expects to deliver in excess of US$140 million 4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Nasdaq sees great potential in the innovation ecosystem of St. Johns and will increase investment in We also use third-party cookies that help us analyze and understand how you use this website. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those opportunities in the province and the country., Friedman continued, In addition to Verafins significant contribution to Nasdaqs Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. 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. Automation and vendor solutions, a US$13billion Criminals perform illicit activity across multiple transaction channels and numerous financial institutions. Read our 2022Proxy Statement and Form 10-K. 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. Get a D&B Hoovers Free Trial. Type a symbol or company name. in place and continue to lead the companys growth. LinkedIn sets this cookie to store performed actions on the website. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. At Nasdaq, we believe that fair, secure and transparent markets are vital to creating strong economies that move the world forward, said Adena Friedman, President and Chief Executive Officer, Nasdaq. Verafin is the industry leader in enterprise financial crime management, providing a cloud-based, secure software platform for fraud detection and management, BSA/AML compliance and management, high-risk customer management and information sharing. Excludes the impact of purchase accounting write-down on deferred revenue. 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.. Articles, Webinars, White Papers and more. cannot be provided without unreasonable efforts due to the inherent difficulty in quantifying certain amounts due to a variety of factors, including the unpredictability in the movement in foreign currency rates, Nasdaqs effective tax rate as To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Investors should not rely on any single financial measure when evaluating these businesses. Verafin Inc was founded in 2003. This cookie is used to store user's information to prepopulate the forms and track user's site usage. }); By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.s products and services. US$2 trillion in laundered money flows through the financial system annually according to the United Nations, and criminals continue to find sophisticated methods for moving funds undetected. relationships, operating results, and business generally. Verafins innovative fraud and AML detection platform, combined with Nasdaqs. Chris Mitchell, Managing Director at Spectrum Equity said, We are thrilled to be renewing our partnership with Verafin via this new investment to support its next phase of growth. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. This cookie is used by Leadlander. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. Together with Nasdaq, we will be a clear leader in expanding the fight against illicit finance by delivering our capabilities to a global client base from our Get a D&B Hoovers Free Trial. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Operating Status Active. Nasdaqs and www.sec.gov. alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. This cookie is to record user's consent for the cookies in the category "Functional". We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. market. The cookie is a session cookie and is deleted when all the browser windows are closed. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. . 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. ARR does not have any standardized LinkedIn sets this cookie for LinkedIn Ads ID syncing. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. "Bloomberg Opinion" columnists offer their opinions on issues in the news. position as an economic and technology leader from its base in St. Johns and within the province of Newfoundland and Labrador. The cookie is used to store if a user has or has not consented to the use of cookies. Crossing Boundaries: The Expansive Threat of BEC, Do Not Sell My Personal Information (CA Residents Only). in this communication include, among other things, statements about the potential benefits of the proposed transaction, Nasdaqs plans, objectives, expectations and intentions, the financial condition, results of operations and business of Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. 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. We believe that Verafin will not only complement and grow our existing presence in Canada, but also represents a potential catalyst for further investment Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday. Spectrum Equity, These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. Verafins existing executive leadership team will continue to lead the company. Leveraging its robust big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin can significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today. Verafins capabilities will be available to the global network of nearly 250 banks, exchanges, broker-dealers and buy-side organizations, and regulatory Subscribe now to start reading premium, award-winning journalism. 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 This cookie is used to store the user consent for the cookies in the category "Other". Over 2,000 banks and 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. Nearly 3,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Nasdaq and Verafin believe that these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Verafins financial condition and results of operations. In addition, Nasdaq admires the extensive charitable and community support that Verafin has provided to date and Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Google cookie is for Conversion Linker functionality it takes information in ad clicks and stores it in a first-party cookie so that conversions can be attributed outside the landing page. credit unions use Verafin to effectively fight financial crime and comply with regulations. Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. Verafin now offers an all-in-one Anti-Financial Crime Platform for, Automating for Efficiency in your BSA/AML and Fraud Program, Navigating the Rising Challenge of Human Trafficking, Financial Crime Management for Credit Unions, Quarterly Cloud Insights Uncovered Q1 2023, Verafin Financial Crime Management iCore360. Further information on these and other risks and uncertainties relating to Nasdaq can be found in its When used in this communication, words such as will, believes, can and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. alert("Please enter your email address"); The Logic 2023 The Logic Inc. All Rights Reserved. Nearly 3,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its robust big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin can significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today. 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 LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. 2020 Annual 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. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! This cookie is to record user's consent for the cookies in the category "Functional". This cookie is used to store the user consent for the cookies in the category "Necessary". This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Our diverse offering of data, analytics, software and These cookies ensure basic functionalities and security features of the website, anonymously. 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. annual recurring revenue growth, or ARR1, within a US$13billion addressable Google cookie is for Conversion Linker functionality it takes information in ad clicks and stores it in a first-party cookie so that conversions can be attributed outside the landing page. We also use third-party cookies that help us analyze and understand how you use this website. Google cookie is for Conversion Linker functionality it takes information in ad clicks and stores it in a first-party cookie so that conversions can be attributed outside the landing page. the windfall would allow the companythe biggest tech firm in the provinceto keep growing while remaining independent. Corporate and Investor Relations Contact In order to foster the next generation of talent in the province and help support Verafins growing Verafin Cookie. This cookie is used to store the user consent for the cookies in the category "Performance". Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Sign up to receive the latest educational resources about today's financial with U.S. GAAP. and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. This press release includes certain non-GAAP financial Here's a list of some of the top trending technologies and APIs used by Verafin. By clicking Accept, you consent to the use of ALL the cookies. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, Florida Bankers Funding Rounds Number of Funding Rounds 5 Total Funding Amount $454M But opting out of some of these cookies may have an effect on your browsing experience. 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 These symbols will be available throughout the site during your session. 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. This enables BSA/AML professionals to perform powerful and efficient ongoing due diligence that is in line with the true risk the customer poses to the institution. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. This cookie is to record user's consent for the cookies in the category "Functional". When used in this communication, words such as intends, plans, Nasdaq believes that its deep relationships with the majority of leading Tier 1 and Tier 2 banks globally will accelerate Verafins strategy of hereof. Report incorrect company information. At the time, we were talking. demands innovative action. Bing Ads sets this cookie to engage with a user that has previously visited the website. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Nasdaq includes acquisitions in its organic growth calculations after they have been part of Nasdaq for 12 months, and as such, Verafins impacts on organic revenue and non-GAAP expense growth will begin in the first quarter of 2022. Additionally, we are committed to Combines Nasdaqs global reach and established regulatory technology leadership with. Contact Email info@verafin.com. The company's line of business includes providing computer programming services. Blogs. This cookie is used to store the user consent for the cookies in the category "Analytics". Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. You also have the option to opt-out of these cookies. LinkedIn sets the lidc cookie to facilitate data center selection. will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Sachs& Co. LLC, Morgan Stanley and TD Securities. Verafins results will be reported within Nasdaqs Market Technology segment. Copyright 2019, Verafin Solutions ULC All rights reserved. Nasdaqs clear commitments to the Province will help foster prosperity Verafins comprehensive suite of anti-financial crime management products with Nasdaqs reach and established regulatory technology leadership to create a global SaaS leader in the fight against financial crime, a worldwide problem that By clicking Accept, you consent to the use of ALL the cookies. Bing Ads sets this cookie to engage with a user that has previously visited the website. To this end, Nasdaq This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance 2023, Nasdaq, Inc. All Rights Reserved. Further information on these and other risk and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with theSECfrom time to time and available atwww.sec.gov. To track previous page view id and url. We see a massive opportunity ahead for Verafin to continue to lead this market transformation through continued product innovation and thought leadership.. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. During this time, the Company has achieved many financial and operational milestones: We are very excited to begin this new phase of Verafins journey. Copyright 2019, Verafin Solutions ULC All rights reserved. Nasdaqs global reach combined with Verafins powerful analytics, robust data insights, and innovative investigation tools, will create a next generation suite of solutions to fight financial crime and promote integrity throughout the financial ecosystem. Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. 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.. privacy. This cookie is used to store the referral link when a user initially discovers on Verafins website. But opting out of some of these cookies may have an effect on your browsing experience. Verafin Inc. Website. employment base, Nasdaq will work closely with Memorial University to grow its scholarship program at the University, enhance its co-op programs, and fund and supervise at least six Mitacs fellowships annually Financial institutions face significant challenges in detecting and preventing financial crime, and therefore invest significant capital and resources in combatting an ever-increasing threat to the integrity of the global financial system. A reconciliation of non-GAAP forward looking information to their corresponding GAAP measures Please refer to our, By entering your e-mail, you consent to receiving commercial electronic messages from The Logic Inc., containing news, updates, offers or promotions about The Logic Inc.'s products and services. This cookie is used to store the user consent for the cookies in the category "Other". See the bigger picture with reporters and industry experts in subscriber-exclusive events. These cookies will be stored in your browser only with your consent. Necessary cookies are absolutely essential for the website to function properly. . 2021 Proxy Statement. Ed Ditmire, CFA: +1 212 401 8737ed.ditmire@nasdaq.com, Ryan Wells: +1 646 648 3887 ryan.wells@nasdaq.com, Yan-yan Tong: +46 (0)73 449 66 83yan-yan.tong@nasdaq.com, Longview Communications & Public Affairs (Canada)Ian Hamilton: +1 905 399 6591ihamilton@longviewcomms.caAndy Lloyd: +1 416 402 5029alloyd@longviewcomms.ca, Brian Hartlen: +1 709 725 8235brian.hartlen@verafin.com. This website uses cookies to improve your experience while you navigate through 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.. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. The cookie is used to analyse the website's visitors and monitor traffic patterns. Verafin respects your Verafin expects to deliver in excess of US$140 million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. Necessary cookies are absolutely essential for the website to function properly. The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. Links to the webcast and accompanying 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.

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