The Verafin Story
We are an industry pioneer in anti-financial crime management solutions, with a mission to create the world’s most effective crime-fighting network. As a Nasdaq company, Verafin extends its capabilities to service a global ecosystem of Tier-1 and Tier-2 banks, as well as regulatory authorities and consortium initiatives.
Verafin was founded in 2003 by Jamie King, Brendan Brothers, and Raymond Pretty — three engineers involved in graduate studies on artificial intelligence and decision-making systems at Memorial University in St. John’s, Newfoundland and Labrador.
They set out to examine the ever-growing problem of fraud and money laundering, and the solutions required by banks and credit unions for daily operations. They scoped a complete end-to-end anti-financial crime management solution. Then they built it.
Today, Verafin provides the industry’s leading financial crime management platform.
You’ll find our software in over 3000 banks and credit unions across North America. We’re proud that our product helps detect and prevent serious crimes like human trafficking, elder abuse and identity theft. With Verafin’s Information Sharing platform, we’re bringing our customers together and allowing them to collaborate to fight crime. We believe we’re stronger when we work together.
In 2021, Verafin joined Nasdaq to create a global leader in the fight against financial crime. Nasdaq’s investment will help Verafin expand our position as an economic and technology leader from our base in St. John’s, Newfoundland and Labrador.
The combination of Verafin’s comprehensive suite of anti-financial crime management products with Nasdaq’s established regulatory technology leadership will create a next generation suite of solutions to effectively and efficiently fight financial crime and promote integrity throughout the financial ecosystem.
Our company was built on a foundation of caring, teamwork and innovation. We are passionate about what we do, and we’re committed to creating a positive environment where our employees can do their best work.
Verafin provides unlimited vacation, comprehensive benefits, a collaborative open-concept workspace, and fully supported work-from-home options. We have been consistently recognized as one of Canada’s top 100 employers for eight years in a row. Employees at Verafin are paired with dedicated Employee Success Managers who encourage their professional and personal growth through internal programs, training, and formal benefits. We believe in learning, and we believe in sharing that knowledge with people like you — we also enjoy the occasional Nerf fight.
Our internal charity VeraCares provides fundraising and volunteer support for local organizations like Choices for Youth, Thrive, The Blue Door program, SeniorsNL, Janeway, The School Lunch Association and many more.
Giving back to our community is a priority for Verafin. Employees are encouraged to volunteer at a wide variety of events, and we collect donations at our company events. VeraCares has raised over $1.8 Million since 2013 and provided hundreds of volunteer hours. Our work in the community has earned us a Board of Trade award for Community Impact (20+ Employees).
As with many organizations impacted by the global pandemic, VeraCares shifted its focus in 2020 to ensure our contributions back to the community had its greatest reach and impact. We concentrated our efforts on food insecurity and donated to food banks and organizations in communities where our employees live. Through a partnership with SeniorsNL, our volunteers offered grocery shopping and delivery services for seniors in the St. John’s region. Despite the pandemic deferring our flagship events, we still raised over $200,000 and provided 572 volunteer hours in our communities.