Company Overview of Verafin Inc.
Verafin Inc. provided compliance, anti-money laundering, and fraud detection software solutions for banks and credit unions in North America. It offers Verafin, a consolidated financial crime detection and compliance automation solution that detects various financial crimes, including fraud, money laundering, and identity theft. The company’s solutions manage case investigations and automatically e-file compliance reports; manage risks associated with products and services from third-party vendors; and automate list updating and scanning of customers, non-customers, and vendors, as well as real-time scanning of international ACH transactions and wires. In addition, it offers systems integrat...
570 Newfoundland Drive
St. John's, NF A1A 5B1
Founded in 2003
Key Executives for Verafin Inc.
Co-founder and Vice President of Engineering
Vice President of Customer Care
Compensation as of Fiscal Year 2013.
Verafin Inc. Key Developments
Illinois Bankers Association Chooses Verafin to Help Protect its Members from Financial Crime
Jan 15 14
Verafin Inc. announced a new partnership with the Illinois Bankers Association (IBA). After an extensive review of fraud detection and AML software vendors, the IBA chose Verafin and its FRaud detection and Anti-Money Laundering (FRAML) software suite to protect its vast network of member banks from the damages of financial crime. Verafin has created a competitive reputation in the world of financial crime detection software by applying the latest advances in artificial intelligence to the analysis of customer behavior to detect anomalies. Verafin's FRAML software suite brings fraud detection, anti-money laundering and BSA compliance together on one advanced platform to give users an enterprise view of customer activity, helping financial institutions prevent crime efficiently and effectively.
Verafin Announces Strategic Alliance with Harland Financial Solutions
Aug 13 13
Verafin Inc. announced a strategic alliance agreement with Harland Financial Solutions. Harland Financial Solutions serves over 6,000 financial institutions with comprehensive software and services that help drive performance and profitability. Verafin enables fraud detection and BSA/AML compliance professionals to quickly and effectively respond to suspicious activity. Innovative, powerful, and easy-to-use, the FRAML software is a complete package, from suspicious activity alert generation to integrated case management functionality and fully automated BSA regulatory reporting.
Verafin Inc. and Fundtech Ltd. Partner to Enhance the Real-Time Online Fraud Detection Analytics
May 20 13
Verafin Inc. announced a partnership with Fundtech Ltd. to integrate Fundtech's PAYplus payment platforms: PAYplus Connect & PAYplus USA with Verafin's enterprise FRAML solution. This integration of the leading funds transfer solution in the US and North America's most advanced behavior-based fraud detection and Anti-Money Laundering (AML) analytics gives financial institutions the power to prevent wire fraud in real time.
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