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
DemoMitigating and Managing Deposit Fraud LossesMarch 03 at 12:30 PM - 01:30 PM ESTFinancial institutions across the country are facing an increasing number of deposit fraud attacks as criminals take advantage of the anonymity and convenience of ATM... |
Verafin TourBSA/AML Compliance SessionMarch 09 at 03:00 PM - 04:30 PM ESTThe landscape of BSA/AML compliance is changing. 2020 saw renewed calls to modernize the BSA/AML regime, and the AML Act of 2020 may usher in the... |
Verafin TourFraud Detection & Management SessionMarch 11 at 03:00 PM - 04:30 PM ESTFinancial institutions and their customers are facing growing threats from opportunistic and increasingly sophisticated fraudsters. Join us at the 2021 Verafin Virtual Tour, where our... |
Verafin TourHigh-Risk Customer Management SessionMarch 12 at 03:00 PM - 04:30 PM ESTManaging customers in high-risk categories is the cornerstone of compliance, and a common challenge for many financial institutions. Join our expert presenters at the 2021... |
DemoReduce Losses & Improve Visibility with Consolidated Fraud Detection and ManagementMarch 17 at 12:30 PM - 01:30 PM ESTFinancial institutions are facing significant challenges in combating increasing and ever-changing fraud scams. Using multiple fraud detection systems across siloed fraud and operational teams makes... |
DemoAutomating for Efficiency in your BSA/AML and Fraud ProgramMarch 18 at 12:30 PM - 01:30 PM ESTThe financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. Relying on siloed teams, spreadsheets... |
