Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Represents non-GAAP EBITDA margin percentage plus annual growth rate. Our intelligent risk categorization approach identifies, segments, stratifies and actively monitors ongoing high-risk customer activity. alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. This cookie is used to store the user consent for the cookies in the category "Other". Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. Get a D&B Hoovers Free Trial. Nasdaqs ability to secure regulatory approvals on the terms expected, in a timely manner or at all; Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. NEW YORK, ST. JOHNS, Nov. 19, 2020 (GLOBE NEWSWIRE) Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, and Verafin, an industry This cookie is used to store the user consent for the cookies in the category "Other". Verafin Inc was founded in 2003. 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. credit unions use Verafin to effectively fight financial crime and comply with regulations. This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. 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. teamwork, entrepreneurship, and a commitment to continued growth and development. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. 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 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. $('#wpaloginform').submit(function( ) { Operating Status Active. LinkedIn sets this cookie for LinkedIn Ads ID syncing. For more information, visit http://www.informationvp.com. Nasdaq is committed to growing Verafins business and creating opportunities for their employees. This cookie is used to store user's information to prepopulate the forms and track user's site usage. "Bloomberg Opinion" columnists offer their opinions on issues in the news. 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada. Microsoft Clarity cookie. Nasdaqs and Financial institutions face significant challenges in detecting and preventing financial crime, and therefore invest significant capital and resources in combatting an ever-increasing threat to the integrity of the global financial system. Verafin Cookie. LinkedIn sets this cookie to store performed actions on the website. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. By clicking Accept, you consent to the use of ALL the cookies. may be different from non-GAAP measures used by other companies. 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 . Articles, Webinars, White Papers and more. Verafins existing executive leadership team will continue to lead the company. Learn More About CTRs > Learn More About SARs > Integrated Case Management. These cookies are used for advertising, site analytics, and other operational purposes. Asia Pacific +65 6212 1000. institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. These cookies are used for advertising, site analytics, and other operational purposes. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. READ MORE Also, cash aggregation reports from the financial institution's core system used to identify needed CTRs would not be considered a model. These cookies will be stored in your browser only with your consent. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. Copyright 2019, Verafin Solutions ULC All rights reserved. Verafin respects your Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. This cookie is to store the resource that was in user's last activity. Information Venture Partners is a Toronto-based team of experienced venture capital investors that focus on early-stage companies in B2B FinTech and Enterprise SaaS. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Verafin Cookie. The company's line of business includes providing computer programming services. Stores the Clarity User ID and preferences, unique to that site, on the browser. Represents revenues less transaction-based expenses. . Great journalism delivered straight to your inbox. headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. The pattern element in the name contains the unique identity number of the account or website it relates to. ARR does not have any standardized The cookie is used to analyse the website's visitors and monitor traffic patterns. This cookie is used to store the user consent for the cookies in the category "Analytics". Up to Senior debt financing for the transaction was led by Wells Fargo Capital Finance and included Scotiabank in the syndicate. Copy and paste multiple symbols separated by spaces. privacy. It is expected to close in the first quarter of 2021. Phone Number 877.368.9986. Association, Massachusetts Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We see a massive opportunity ahead for Verafin to continue to lead this market transformation through continued product innovation and thought leadership.. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. hereof. This cookie is used to store the user consent for the cookies in the category "Analytics". definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. Verafins products are powered by intelligent analytics and leverage machine learning, robust shared data Refer to the non-GAAP information section of this release for a Valuable research and technology reports. Houlihan Lokey served as the financial advisor to Verafin. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Necessary cookies are absolutely essential for the website to function properly. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. 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. 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. Type a symbol or company name. Records the default button state of the corresponding category & the status of CCPA. By clicking Accept, you consent to the use of ALL the cookies. Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . This cookie is to store the resource that was in user's last activity. Connect with us on Social or feel free to contact us with any inquiries. organic revenue3 growth outlook within its Solutions Segments to 6-9% (from 5-7% previously). Verafins managements use certain of these non-GAAP measures to compare Nasdaqs and Verafins performance to that of prior periods for trend analyses and for budgeting and planning purposes. the last three years. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by customers. Canada. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Nasdaq and Verafin disclaim any obligation to update these forward-looking statements, except as required by law. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, Ethoca, GoodRx, Grubhub, Lynda.com, Origami Risk, RiskMetrics, SurveyMonkey and World-Check. Copyright 2019, Verafin Solutions ULC All rights reserved. Verafin is a company that provides financial crime management solutions. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. The equity and debt financing follows a period of sustained and rapid growth at Verafin. St. John's, NL A1A 0L9. A reconciliation ofnon-GAAPforward looking information to their corresponding GAAP measures 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 well as future charges or reversals outside of the normal course of business. and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. Microsoft Clarity cookie. will increase Verafins level of charitable giving as the company continues to grow. 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. 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. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Links to the webcast and accompanying The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. A reconciliation ofnon-GAAPforward looking information to their corresponding GAAP measures 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 well as future charges or reversals outside of the normal course of business. www.verafin.com Contact Information Headquarters 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada (877) 368-9986 Verafin Profile and History We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. 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. Verafin has raised a total of $454M in funding over 5 rounds. This website uses cookies to improve your experience while you navigate through the website. Nasdaqs investment will help Verafin expand its Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. 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. Copyright 2019, Verafin Solutions ULC All rights reserved. Blogs. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. These symbols will be available throughout the site during your session. annual recurring revenue growth, or ARR1, within a US$13billion addressable The cookie is used to store if a user has or has not consented to the use of cookies. 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. Verafin now offers an all-in-one Anti-Financial Crime Platform for, Automating for Efficiency in your BSA/AML and Fraud Program, Navigating the Rising Challenge of Human Trafficking, Financial Crime Management for Credit Unions, Quarterly Cloud Insights Uncovered Q1 2023, Verafin Financial Crime Management iCore360. market according to Oliver Wyman, have become increasingly attractive solutions for financial institutions. Articles, Webinars, White Papers and more. These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. 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. Configurable Dashboards Manage and transform your information into key business insights. 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. This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. Americas +1 212 318 2000. 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. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. Used by Microsoft Advertising as a unique ID for visitors. Their latest funding was raised on Sep 25, 2019 from a Private Equity round. 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. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. These documents are also available under the Investor Relations section of Nasdaq s website at http://ir.nasdaq.com/investor-relations. On Thursday, November19, 2020 at 8:00 a.m. However you may visit Cookie Settings to provide a controlled consent. Documents from Prior Periods. 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. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. You also have the option to opt-out of these cookies. New equity financing was provided by Spectrum Equitys current investing fund and Information Venture Partners (IVP) new fund with participation by new backers Northleaf Capital Partners, BDC Capital and Teralys Capital. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The acquisition of Verafin is also expected to To identify unique web browsers visiting Microsoft sites. 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. This cookie is used to store the referral link when a user initially discovers on Verafins website. The acquisition strengthens Nasdaqs The transaction is expected to increase revenue contribution from the highest-growth Market Technology and Investment Intelligence segment to 47% (from 45%) of total Nasdaq net revenue2 pro forma for the third quarter of 2020. These cookies track visitors across websites and collect information to provide customized ads. The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or The transaction meets all of Nasdaqs acquisition investment criteria: Verafin is a strong strategic and cultural fit, accelerating Nasdaqs evolution into a technology, analytics Verafin Financial Crime Management Jack Henry. Subscribe now to start reading premium, award-winning journalism. LinkedIn sets this cookie for LinkedIn Ads ID syncing. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Represents one of the largest ever growth financings of a Canadian software business, Funding will accelerate Verafins product innovation roadmap and the expansion of sales and marketing initiatives into large financial institutions. This cookie is used to store the user consent for the cookies in the category "Performance". When used in this communication, words such as will, believes, can and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. The agreement will combine Recession Risk Determine whether Verafin Usa grew or shrank during the last recession. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com. The acquisition would value Verafin at more than $3.5 billion, and boost Nasdaq's position in the data-intelligence market. Investigator for anti-money laundering (AML). Automation and vendor solutions, a US$13billion 1 Includes the impact of the acquisition of Verafin +19% YoY increase $1,871M Annualized recurring revenue 4Q21 Progress on Key Metrics Confirm our Confidence in our Strategy 7 Solutions Segments. Further information on these and other risks and uncertainties relating to Nasdaq can be found in its Investors should not rely on any single financial measure when evaluating these businesses. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Do Not Sell My Personal Information (CA Residents Only). Legal Name Verafin Inc. Company Type For Profit. Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. demands innovative action. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Our diverse offering of data, analytics, software and It is expected to enhance Nasdaqs performance and valuation potential, in particular by accelerating This cookie is used to record the user consent for the cookies in the "Advertisement" category. Verafins approach includes big data intelligence, visual storytelling and collaborative investigations to help institutions stay a step ahead of regulatory change and financial crime. Manage Products and Account Information. 2023, Nasdaq, Inc. All Rights Reserved. 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