Nasdaq Completes Acquisition of Verafin, Creating a Global Leader in the Fight Against Financial Crime
Nasdaq Completes Acquisition of Verafin, Creating a Global Leader in the Fight Against Financial Crime
The global reach of Nasdaq, combined with Verafin’s powerful analytics, robust shared data insights, and innovative investigation tools, creates a next generation suite of solutions to fight financial crime and promote integrity throughout the financial ecosystem.
Verafin remains a center of innovation and technology within the province of Newfoundland and Labrador and an economic leader in St. John’s.
What is Verafin?
With fraud and money laundering alerts, end-to-end due diligence solutions, robust case management functionality, automated regulatory reporting, and the ability to share information with other institutions, Verafin’s cloud-based, consolidated Financial Crime Management platform provides financial institutions with a complete solution to detect, investigate and report financial crime.
Criminals perform illicit activity across multiple transaction channels and numerous financial institutions. 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. Verafin’s approach includes big data intelligence, visual storytelling and collaborative investigations to help institutions stay a step ahead of regulatory change and financial crime.
Solutions
Verafin's Financial Crime Management platform also includes:
ADVANCED VISUALIZATIONS
Geographic Maps
Check Images
Relationship Graphs
Approach
Verafin streamlines the investigation process by significantly reducing false positives and delivering insights through enhanced data analysis and innovative visualization tools.
Big Data Intelligence
Reduce false positives, increase the quality and accuracy of your alerts, and strengthen crime ring investigations with big data intelligence in the Verafin Cloud. Verafin imports and analyzes an immense amount of information from multiple sources, including core system, ancillary source, open-source, third-party, and consortium data. We then apply cross-institutional analysis and machine learning technology to analyze billions of transactions, ensuring best-in-class performance.
Visual Storytelling
Expedite your investigations and create richer, more detailed reports with Verafin’s unique visual storytelling capabilities. You are presented with smart evidence and investigation tools, such as risk-rated evidence, check image viewer, balance charts, geographic maps, and interactive relationship graphs. By providing targeted alerts packaged with supporting information and evidence, Verafin saves time and resources in every investigation.
Collaborative Investigations
Work together to create a complete picture of financial crime by sharing information in Verafin’s secure environment. Combining the power of cross-institutional analysis in the Verafin Cloud with 314(b) information sharing tools strengthens investigations into crimes spanning multiple institutions, improves the efficiency of your investigations, and provides richer reporting to law enforcement.
INSIGHTS FOR INVESTIGATIONS
Flow of Funds Visualization
More Verafin Features
Upcoming Events
WebinarEffective & Efficient AML: The Way ForwardApril 14 at 12:30 PM - 01:30 PM ESTThe BSA/AML regulatory landscape is changing — and so are the challenges and opportunities for financial institutions. Join us for this special rebroadcast from the... |
WebinarAMLA: Potential Impact and Practical Implications for Anti-Financial CrimeApril 20 at 02:00 PM - 03:00 PM ESTThe Anti-Money Laundering Act of 2020 (AMLA) may usher in the most profound changes to the BSA/AML regime since the USA PATRIOT Act of 2001.... |
WebinarFraud Trends & Technology: Using Big Data to Solve Big Fraud ProblemsApril 21 at 12:30 PM - 01:30 PM ESTCriminals are targeting financial institutions and customers with increasingly complex scams, from COVID-19-related government benefits fraud to schemes exploiting the speed of real-time payments. In... |
DemoPreventing Losses from Check Kiting and Check Fraud SchemesApril 28 at 12:30 PM - 01:30 PM ESTFraudsters are using tried-and-true methods to perpetrate fraud. From stolen checkbooks and near-perfect counterfeits to elaborate kiting schemes, in-clearing or on-us check fraud remains a... |
DemoBSA/AML Compliance, Fraud Detection & High-Risk Customer ManagementMay 05 at 12:30 PM - 01:30 PM ESTFrom plotting sophisticated fraud schemes to outsmarting BSA reporting requirements, today’s criminals pose an increasing threat to financial institutions and their customers. Nefarious criminal activities... |
DemoReal-time Detection for Payments FraudMay 12 at 12:30 PM - 01:30 PM ESTFaster funds result in faster fraud – as customers and institutions turn to payments channels such as wire, ACH and P2P solutions for their speed... |
