To identify unique web browsers visiting Microsoft sites. Their latest funding was raised on Sep 25, 2019 from a Private Equity round. Corporate and Investor Relations Contact This communication contains forward-looking information related to Nasdaq,Verafinand the acquisition ofVerafinby Nasdaq that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Nasdaq is committed to growing Verafins business and creating opportunities for their employees. 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. Microsoft Clarity cookie. Blogs. Verafins capabilities will be available to the global network of nearly 250 banks, exchanges, broker-dealers and buy-side organizations, and regulatory with U.S. GAAP. session and campaign data and also keeps track of site usage for the site's analytics report. extraordinary growth and stellar client retention. Investors should not rely on any single financial measure when evaluating these businesses. This cookie is to store the resource that was in user's last activity. As previously disclosed in Nasdaqs press release on November 19, 2020 regarding the acquisition of Verafin, the inclusion of Verafin increases the growth potential of Nasdaq, resulting in managements outlook for organic revenue growth in the Market Technology business of 13-16% CAGR over the medium-term (3-5 years), and an increase to its outlook for the broader Solutions Segments businesses to achieve a 6-9% organic revenue CAGR over the medium-term. By clicking Accept, you consent to the use of ALL the cookies. hereof. This cookie is used to store the user consent for the cookies in the category "Analytics". Records the default button state of the corresponding category & the status of CCPA. 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 This cookie is used to store the referral link when a user initially discovers on Verafins website. Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. 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. Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday. 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,. Strengthens Verafin as a center of innovation and technology within the province of Newfoundland and. Verafin Inc was founded in 2003. Used by Microsoft Advertising as a unique ID for visitors. Tel. At the time, we were talking. benefits from the proposed 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 Manage Products and Account Information. Verafin is a company that provides financial crime management solutions. accounting write-down on deferred revenue is excluded in these measures. These cookies are used for advertising, site analytics, and other operational purposes. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. This cookie is used to store the user consent for the cookies in the category "Necessary". ARR does not have any standardized We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. The proposed deal comes just over a year after Verafin clocked the biggest venture funding round in Canadian history: a $515-million equity and debt recapitalization deal to help build out its product innovation and land bigger clients in the banking sector. The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. It is expected to enhance Nasdaqs performance and valuation potential, in particular by accelerating 7819, Media, Analysts and General Contact 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. the windfall would allow the companythe biggest tech firm in the provinceto keep growing while remaining independent. a leading growth equity investor based in Boston and San Francisco, and Information Venture Partners, a leading FinTech-focused venture capital firm based in Toronto, both significant investors in Verafin, have agreed to sell their stake as part of By clicking Accept, you consent to the use of ALL the cookies. . With Security in the Verafin Cloud The Verafin Cloud is a secure infrastructure for data storage and analysis, which provides convenient, on-demand access to the Verafin Verafins secure cloud infrastructure enables technology advancements,superior customer service and application enhancements. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. ARR for a given period is the annualized revenue of active contracts. Nasdaq is now updating its outlook for the organic growth in non-GAAP operating expenses over the medium-term to 3-6% up from the 2-4% amount previously announced, reflecting the strong growth expectations of Verafin and our combined anti-financial crime technology offering. To identify unique web browsers visiting Microsoft sites. Canada. Links to the webcast and accompanying This cookie is used to store the user consent for the cookies in the category "Analytics". 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. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. The pattern element in the name contains the unique identity number of the account or website it relates to. annual recurring revenue growth, or ARR1, within a US$13billion addressable 2023, Nasdaq, Inc. All Rights Reserved. Nasdaq and Verafin believe presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Over 2,000 banks and These cookies will be stored in your browser only with your consent. Analytical cookies are used to understand how visitors interact with the website. Sales bookings and deal size at the company each grew by. Used by Microsoft Advertising as a unique ID for visitors. Verafin Financial Crime Management Jack Henry. To identify unique web browsers visiting Microsoft sites. The forward-looking statements included in this communication are made only as of the date Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests. services enables clients to optimize and execute their business vision with confidence. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, Ethoca, GoodRx, Grubhub, Lynda.com, Origami Risk, RiskMetrics, SurveyMonkey and World-Check. 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. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 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. Stores the Clarity User ID and preferences, unique to that site, on the browser. 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. 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. The anti-financial-crime sector is a US$12.5-billion industry expected to see a compound annual growth rate of about 17 per cent from now until 2024, according to the investor report. The cookie is a session cookie and is deleted when all the browser windows are closed. The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. Type a symbol or company name. The forward-looking statements included in this communication are made only as of the date hereof. $=jQuery; The cookie is used to store if a user has or has not consented to the use of cookies. For over 25 years, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies. LinkedIn sets the lidc cookie to facilitate data center selection. It offers fraud detection, anti-money laundering, high-risk customer management, online account takeover detection, and other solutions. 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. You also have the option to opt-out of these cookies. 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. 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. 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. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . 18 Hebron Way. Senior debt financing for the transaction was led by Wells Fargo Capital Finance and included Scotiabank in the syndicate. This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance This cookie is used to store the user consent for the cookies in the category "Other". 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. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. 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.. Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. industry. Necessary cookies are absolutely essential for the website to function properly. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. READ MORE Used by Microsoft Advertising as a unique ID for visitors. LinkedIn sets this cookie to remember a user's language setting. Verafin uses artificial intelligence and machine learning for cross-institutional, multi-channel analysis to show you truly unusual activity with a single alert, saving you time and providing you with the information you need to decide how to proceed. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. The transaction is subject to regulatory approvals and other customary closing conditions. industry. Relying on siloed teams, spreadsheets, By following the money, financial institutions and investigators play a critical role in the fight against human trafficking helping to uncover the perpetrators and Verafin is the industrys leading Financial Crime Management platform, trusted by 1200 credit unions to strengthen compliance and combat evolving financial crimes.