verafin annual report

At the core of Nasdaqs mission, we champion fairness and integrity in the markets that we build and in the broader financial ecosystem in which we Represents non-GAAP EBITDA margin percentage plus annual growth rate. This combination meaningfully accelerates the evolution of our business mix toward highly 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. Type a symbol or company name. Here's a list of some of the top trending technologies and APIs used by Verafin. discussion of this and other non-GAAP measures. 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". Verafin expects to deliver in excess of US$140 million 4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. A reconciliation of non-GAAP forward looking information to their corresponding GAAP measures This investment by Nasdaq, a global in place and continue to lead the companys growth. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Nasdaq believes that its deep relationships with the majority of leading Tier 1 and Tier 2 banks globally will accelerate Verafins strategy of The cookie is used to analyse the website's visitors and monitor traffic patterns. Blogs. privacy. Read our 2022Proxy Statement and Form 10-K. NEW YORK and ST. JOHNS, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions. You can withdraw your consent at anytime. Verafin provides a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Get a D&B Hoovers Free Trial. 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. Analytical cookies are used to understand how visitors interact with the website. benefits from the proposed transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction Bing Ads sets this cookie to engage with a user that has previously visited the website. LinkedIn sets this cookie for LinkedIn Ads ID syncing. proposed transaction on the market price of Nasdaqs common stock or on Nasdaqs operating results; significant transaction costs; unknown liabilities; the risk of litigation or regulatory actions related to the proposed transaction; 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. accounting write-down on deferred revenue is excluded in these measures. Type a symbol or company name. This documentary-style series follows investigative journalists as they uncover the truth. Recession Risk Determine whether Verafin Usa grew or shrank during the last recession. 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. During this time, the Company has achieved many financial and operational milestones: We are very excited to begin this new phase of Verafins journey. Up to 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 . But opting out of some of these cookies may have an effect on your browsing experience. This cookie is used to store the user consent for the cookies in the category "Necessary". 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. Compare how recession-proof Verafin Usa is relative to the industry overall. future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the proposed transaction; and the effect of the announcement or pendency of the transaction on Verafins business These cookies will be stored in your browser only with your consent. 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. St. John's online security and anti-fraud company Verafin will be sold to global technology giant Nasdaq for $2.75 billion US, the companies announced Thursday, making for a "very exciting day . Visit www.verafin.com, email info@verafin.com or call 866.781.8433. 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. Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. By clicking Accept, you consent to the use of ALL the cookies. Verafin respects your industry. For more information, visit http://www.informationvp.com. 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. You also have the option to opt-out of these cookies. local employment levels to fuel Verafins growth. reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at and Chief Executive Officer, Nasdaq. This SHARE PURCHASE AGREEMENT (this "Agreement"), dated as of November 18, 2020, is made by and among Nasdaq, Inc., a Delaware corporation ("Parent"), Osprey Acquisition Corporation, a corporation existing under the CBCA and a wholly owned subsidiary of Parent ("Buyer" and collectively with Parent, "Buyer Parties"), Verafin Holdings Inc., a corporation existing under the CBCA . Configurable Dashboards Manage and transform your information into key business insights. Documents from Prior Periods. Crossing Boundaries: The Expansive Threat of BEC, Do Not Sell My Personal Information (CA Residents Only). Phone Number 877.368.9986. READ MORE Nasdaq highly values the skills and expertise of Verafin employees and will invest to both maintain and increase This cookie is used to store user's information to prepopulate the forms and track user's site usage. 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. industry. Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. As potential liability shifts loom with possible implications for wire payments, As financial institutions implement more robust controls against schemes such as wire fraud, criminals respond by evolving their tactics and efforts against more vulnerable customer Fraudsters are uncompromising, often targeting seniors with cruel elder financial abuse tactics from romance and investment scams. Nasdaq intends to finance the Enhances Nasdaqs performance and potential, with Verafins cloud products delivering ~30% compound. Risks and uncertainties include, among other things, Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other expectations with respect to Verafins business and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management's attention from Nasdaqs ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafins business relationships, operating results, and business generally. To identify unique web browsers visiting Microsoft sites. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. the last three years. authorities that rely on Nasdaqs technology to detect market manipulation and abuse today. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. This cookie is to record user's consent for the cookies in the category "Functional". Additionally, we are committed to making it more difficult to maintain business and operational relationships; risks related to diverting managements attention from Nasdaqs ongoing business operations; the negative effects of the announcement or the consummation of the in this communication include, among other things, statements about the potential benefits of the proposed transaction, Nasdaqs plans, objectives, expectations and intentions, the financial condition, results of operations and business of Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Investors should not rely on any single financial measure when evaluating these businesses. This cookie is used to store the referral link when a user initially discovers on Verafins website. 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. will increase Verafins level of charitable giving as the company continues to grow. hereof. For over 25 years, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies. But opting out of some of these cookies may have an effect on your browsing experience. demands innovative action. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. teamwork, entrepreneurship, and a commitment to continued growth and development. Oil-sands companies had a blockbuster earnings season. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. These cookies track visitors across websites and collect information to provide customized ads. This cookie is to record user's consent for the cookies in the category "Functional". Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Used by Microsoft Advertising as a unique ID for visitors. investment grade ratings. It works only in coordination with the primary cookie. Necessary cookies are absolutely essential for the website to function properly. Verafins innovative fraud and AML detection platform, combined with Nasdaqs. The acquisition strengthens Nasdaqs 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. Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. By clicking Accept, you consent to the use of ALL the cookies. This cookie is used to store the user consent for the cookies in the category "Necessary". 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. ET, Nasdaq will host a webcast presentation to discuss the transaction. Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. Links to the webcast and accompanying Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. Verafin, the world's largest financial crime management software company, announced today the completion of a C$515 million equity and debt recapitali . 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. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. These cookies track visitors across websites and collect information to provide customized ads. Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. Forward-looking statements 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 Cookie. In recent years, Verafin has observed a significant increase in wire fraud incidents across the industry, including cases of Business Email Compromise (BEC), targeted consumer Industry trends & hot topics delivered to your inbox. 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 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. Award-Winning Sales Intel. The agreement will combine Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Nasdaqs investment will help Verafin expand its with U.S. GAAP. This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance with U.S. GAAP. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. organic revenue3 growth outlook within its Solutions Segments to 6-9% (from 5-7% previously). headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Strengthens Verafin as a center of innovation and technology within the province of Newfoundland and. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. Verafin's all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, . LinkedIn sets the lidc cookie to facilitate data center selection. 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. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 2021 Proxy Statement. Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. This cookie is used to store the user consent for the cookies in the category "Other". Verafin expects to deliver in excess of US$140 million 4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. Necessary cookies are absolutely essential for the website to function properly. This cookie is used by Leadlander. Software Updates. Verafin Usa's Annual Report & Profile shows critical firmographic facts: What is the company's size? 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. These cookies are used for advertising, site analytics, and other operational purposes. Further information on these and other risks and uncertainties relating to Nasdaq can be found in its These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. LinkedIn sets this cookie for LinkedIn Ads ID syncing. NEW YORK and ST. JOHN'S, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions.The agreement to acquire Verafin was announced on November 19, 2020.. Verafins existing executive leadership team will continue to lead the company. 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. Type a symbol or company name. The agreement to acquire Verafin was announced on November 19, 2020. In the first quarter of 2019, Verafin hit $100 million in annual recurring revenue growth of 87 per cent since the beginning of 2017. Bing Ads sets this cookie to engage with a user that has previously visited the website. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Who is Verafin? Copyright 2019, Verafin Solutions ULC All rights reserved. The cookie is used to store if a user has or has not consented to the use of cookies. 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 LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. NEW YORK, ST. JOHNS, Nov. 19, 2020 (GLOBE NEWSWIRE) Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, and Verafin, an industry The cookie is used to analyse the website's visitors and monitor traffic patterns. 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 and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. These cookies will be stored in your browser only with your consent. The 2021 interagency guidance also listed what is not considered a model, such as standalone systems that flag singular transactions over certain dollar thresholds (such as wire transfers or cash activity). Get a D&B Hoovers Free Trial. Last Funding Type Private Equity. 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. We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. St. John's, NL A1A 0L9. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. The Logic 2023 The Logic Inc. All Rights Reserved. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Also, cash aggregation reports from the financial institution's core system used to identify needed CTRs would not be considered a model. 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. Refer to the non-GAAP information section of this release for a This cookie is used to store user's information to prepopulate the forms and track user's site usage. Combines Nasdaqs global reach and established regulatory technology leadership with. It is expected to close in the first quarter of 2021. Nasdaqs and Copyright 2019, Verafin Solutions ULC All rights reserved. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. 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. The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or 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.. 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. With Security in the Verafin Cloud The Verafin Cloud is a secure infrastructure for data storage and analysis, which provides convenient, on-demand access to the Verafin Verafins secure cloud infrastructure enables technology advancements,superior customer service and application enhancements. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial 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 These cookies ensure basic functionalities and security features of the website, anonymously. Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests. It works only in coordination with the primary cookie. It is expected to enhance Nasdaqs performance and valuation potential, in particular by accelerating Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. 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. The pattern element in the name contains the unique identity number of the account or website it relates to. Stores the Clarity User ID and preferences, unique to that site, on the browser. This financing round with our long-term partners Spectrum Equity and IVP allows Verafin to accelerate our investments in product innovation and customer success, and continue our progress in market penetration of larger financial institutions, said Jamie King, CEO of Verafin. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. The transaction is subject to regulatory approvals and other customary closing conditions. 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