LinkedIn sets this cookie for LinkedIn Ads ID syncing. This cookie is used by Leadlander. LinkedIn sets this cookie to store performed actions on the website. Stores the Clarity User ID and preferences, unique to that site, on the browser. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Over 2,000 banks and Verafins research and development. Verafin Cookie. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. This communication contains forward-looking information related to Nasdaq, Verafin and the proposed acquisition of Verafin by Nasdaq that To identify unique web browsers visiting Microsoft sites. Nasdaqs clear commitments to the Province will help foster prosperity Nov 25, 2022. authorities that rely on Nasdaqs technology to detect market manipulation and abuse today. hereof. Verafins legal advisor. 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. This cookie is used by Leadlander. }); 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. Verafin Usa's Annual Report & Profile shows critical firmographic facts: What is the company's size? Quarterly results Annual reports SEC filings Letters to shareholders Financial strength rating Financials Letters to shareholders Read the latest message from Markel's co-chief executive officers to our business partners. 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.. Used by Microsoft Advertising as a unique ID for visitors. We believe that Verafin will not only complement and grow our existing presence in Canada, but also represents a potential catalyst for further investment 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. 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. Verafin brings increased efficiency and confidence to the regulatory reporting process by automating the tedious but necessary tasks associated with initiating, completing and filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. . This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. 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. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. + Go To Resource By clicking Accept, you consent to the use of ALL the cookies. The agreement to acquire Verafin was announced on November 19, 2020. and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. As a result, Nasdaq is raising its Market C$100 million in annual recurring . Verafins innovative fraud and AML detection platform, combined with Nasdaqs. Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. Valuable research and technology reports. Used by Microsoft Advertising as a unique ID for visitors. These documents are also available under the Investor Relations section of Nasdaq s website at http://ir.nasdaq.com/investor-relations. Articles, Webinars, White Papers and more. Quarterly results Annual reports SEC filings Financial strength rating Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. documents will be available at the companys Investor Relations website, http://ir.nasdaq.com/investor-relations. expectations with respect to Verafins business after the completion of the transaction and realize expected synergies; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected This website uses cookies to improve your experience while you navigate through the website. The pattern element in the name contains the unique identity number of the account or website it relates to. leading trade and market surveillance solution, will empower Nasdaq to play an increasingly important role in building stronger economies around the world, said Adena Friedman, President These cookies ensure basic functionalities and security features of the website, anonymously. . Recession Risk Determine whether Verafin Usa grew or shrank during the last recession. 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. Advantages of the Verafin Cloud: Immediate access to new Verafin software releases/features and Industry trends & hot topics delivered to your inbox. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! organic revenue3 growth outlook within its Solutions Segments to 6-9% (from 5-7% previously). It is expected to close in the first quarter of 2021. 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. Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. These cookies are used for advertising, site analytics, and other operational purposes. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The acquisition strengthens Nasdaqs 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. accelerate Market Technologys projected timing of meeting the rule of 405 threshold to 2023, two years ahead of Market Technologys 2025 target. Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Nasdaq believes that its deep relationships with the majority of leading Tier 1 and Tier 2 banks globally will accelerate Verafins strategy of Verafin has raised a total of $454M in funding over 5 rounds. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . LinkedIn sets this cookie to store performed actions on the website. Combines Nasdaqs global reach and established regulatory technology leadership with. credit unions use Verafin to effectively fight financial crime and comply with regulations. Verafin's all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, . 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. scalable, subscription revenue.. Verafin's. To identify unique web browsers visiting Microsoft sites. LinkedIn sets this cookie to remember a user's language setting. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Documents from Prior Periods. and Chief Executive Officer, Nasdaq. Stores the Clarity User ID and preferences, unique to that site, on the browser. 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 Canada. 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. Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Ottawas heart institute promises to return US$250,000 grant from bankrupt FTX empire, New federal innovation organization will levy penalties on publicly subsidized IP leaving country, Enthusiast Gaming accuses former executive of calculated coup against CEO, U.S.-based startup with plans to store carbon in deep oceans skips Canada for Iceland. We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. SaaS companies. 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. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. 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 When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. For more information, visit http://www.informationvp.com. ET, Nasdaq will host a webcast presentation to discuss the transaction. Learn More About CTRs > Learn More About SARs > Integrated Case Management. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. pioneer in anti-financial crime management solutions, today announced that they have entered into a definitive agreement for Nasdaq to acquire Verafin for US$2.75billion in cash, subject to customary adjustments. discussion of this and other non-GAAP measures. The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or Nasdaq believes presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. Corporate and Investor Relations Contact These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. Manage Products and Account Information. Copy and paste multiple symbols separated by spaces. Investors should not rely on any single financial measure when evaluating these businesses. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. This cookie is used to store user's information to prepopulate the forms and track user's site usage. Sign up to receive the latest educational resources about today's financial for Masters and PhD students. Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. 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. Records the default button state of the corresponding category & the status of CCPA. 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. transaction with a combination of US$2.5billion of debt and cash on hand and expects debt / non-GAAP EBITDA leverage to be approximately 3.9x pro forma for the transaction. This cookie is used by Leadlander. will increase Verafins level of charitable giving as the company continues to grow. This cookie is used to store the user consent for the cookies in the category "Analytics". privacy. 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. This cookie is used to store the user consent for the cookies in the category "Performance". . Bing Ads sets this cookie to engage with a user that has previously visited the website. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial Necessary cookies are absolutely essential for the website to function properly. Verafin has grown at a compound annual revenue growth rate of approximately 30% over the last three years. You also have the option to opt-out of these cookies. This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance This press release includes certain non-GAAP financial Sales bookings and deal size at the company each grew by. This cookie is used to store the user consent for the cookies in the category "Necessary". 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 Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. To connect multiple page views by a user into a single Clarity session recording. The cookie is a session cookie and is deleted when all the browser windows are closed. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. in place and continue to lead the companys growth. These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. The cookie is a session cookie and is deleted when all the browser windows are closed. teamwork, entrepreneurship, and a commitment to continued growth and development. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. comparative measure. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. These cookies track visitors across websites and collect information to provide customized ads. Subscribe now to start reading premium, award-winning journalism. Up to NEW YORK, ST. JOHNS, Nov. 19, 2020 (GLOBE NEWSWIRE) Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, and Verafin, an industry But opting out of some of these cookies may have an effect on your browsing experience. This cookie is to record user's consent for the cookies in the category "Functional". 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. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. Contact Email info@verafin.com. The forward-looking statements included in this communication are made only as of the date hereof. Founders Brendan Brothers, Jamie King, Raymond Pretty. 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. supporting innovation and growth in St. Johns and Newfoundland and Labrador. HALIFAX Newfoundland and Labrador-based anti-financial-crime software firm Verafin has agreed to be acquired by stock-exchange operator Nasdaq in an all-cash deal valued at US$2.75 billion. The transaction accelerates Nasdaq's ongoing . The annual report on Form 10-K provides a comprehensive overview of the company's business and financial condition and includes audited financial statements. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Nasdaq is committed to growing Verafins business and creating opportunities for their employees. Copyright 2019, Verafin Solutions ULC All rights reserved. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. Analytical cookies are used to understand how visitors interact with the website. and infrastructure provider. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. 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. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. In the first quarter of 2019, Verafin hit $100 million in annual recurring revenue growth of 87 per cent since the beginning of 2017. Verafin is the 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 . The agreement to acquire Verafin was announced on November 19, 2020. We also use third-party cookies that help us analyze and understand how you use this website. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. items. 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.

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