Verafin, a Nasdaq company, provides cloud-based financial crime management software focused on fraud detection, anti-money laundering (AML) compliance, and high-risk customer management. It serves over 3800 financial institutions with adaptive fraud alerts, case management, and reporting tools to proactively prevent financial crime.
Financial crime management software provider with a focus on AML and fraud detection technology.
The primary purpose is to offer financial institutions an integrated platform for fraud prevention and AML compliance, targeting banks, credit unions, and regulatory bodies.
Not specifically focused on gambling verticals; primarily serves financial institutions including banks and credit unions.
Operates as a B2B provider, offering software solutions to financial institutions for compliance and fraud management.
Unique consortium-based approach to reduce false positives, adaptive fraud alerts, machine learning technology, AI-driven compliance automation, and cross-institution information sharing to fight financial crime.
Verafin (a Nasdaq company)
Founded in 2003.
Registered in the United States and operates globally with a focus on U.S.-based institutions.
Primary offices are located in the United States, with a strong regional presence serving North American financial institutions.
Approximately 20+ years in the market since 2003.
Exact number not publicly specified; typically mid to large-sized development teams in established financial software firms.
Products are primarily available in English; industry standard supports multiple international languages based on client needs.
Supports U.S.-based regulatory requirements extensively; capable of regional localization to meet global compliance needs.
To empower financial institutions with innovative technology solutions to efficiently detect and prevent financial crime while ensuring compliance and operational efficiency.
Private company acquired by Nasdaq; operates within Nasdaq's corporate structure.
Holds several industry certifications relevant to financial crime management but specifics are not publicly detailed; recognized for innovation in AML and fraud detection technology.
Participates in financial industry and regulatory compliance associations relevant to AML and fraud prevention in banking.
Key milestones include Nasdaq acquisition, introduction of AI-driven fraud detection, launch of Agentic AI Workforce for AML compliance automation, and expanding consortium data-sharing capabilities.
No public plans for a separate IPO as it is part of Nasdaq.
Offers partner programs for integrators and consortium members to collaborate on fraud detection and AML compliance.
Not applicable specifically; focuses on financial crime prevention and AML compliance.
Adheres to standard corporate environmental policies consistent with Nasdaq's broader ESG commitments.
Provides training and certification programs to clients on software use, compliance best practices, and fraud detection methodologies.
Focus on enhancing AI, machine learning, and automation capabilities, expanding global consortium networks, and increasing efficiency in AML and fraud compliance processes.
Plans to expand beyond U.S. markets into additional global financial sectors, increasing international presence.
Maintains dedicated R&D teams specializing in AI, machine learning, data analytics, and regulatory compliance technology development.
Incorporates agentic AI, machine learning, cloud technologies, consortium data sharing, and automation to address evolving fraud threats.
Engages with fintech startups indirectly through partnerships and consortium collaborations aimed at innovation in financial crime prevention.
A leading provider in the U.S. financial crime management software segment with thousands of institution clients.
Includes Fiserv, NICE Actimize, ACI Worldwide, FICO, and other AML/fraud prevention software vendors.
Strong consortium approach, deep AI and machine learning integration, wide institutional adoption, and comprehensive compliance automation tools.
Primarily North America including the United States and Canada, with growing international reach.
Banks, credit unions, financial institutions, regulators, and compliance departments.
No public information on white-label product offerings; products are branded Nasdaq Verafin.
Typically subscription-based licensing fees tailored to institution size and usage volume; custom enterprise pricing.
Leverages industry conferences, webinars, strategic partnerships, and consortium collaborations to reach financial institutions.
Direct sales complemented by partnerships with industry integrators and consultants.
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Offers some user interface customization to meet client operational workflows.
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No verified public information on blockchain integration.
Cloud-based platform integrating AI, machine learning, big data analytics, and secure data sharing.
Fully cloud-deployed SaaS solution.
No public specifics; likely utilizes containerization technologies for scalability per industry standards.
Supports enterprise-grade databases capable of handling large data volumes; specifics not public.
Likely supports microservices architecture consistent with modern SaaS platforms.
Provides APIs for integration with client systems and third-party services.
Supports RESTful API integration.
No verified information on GraphQL support.
Supports common data formats such as JSON and XML for data exchange.
Supports real-time updates for fraud alerts and case management.
Uses secure internet protocols; specifics not publicly detailed.
No verifiable public information about WebSocket support.
Standard cloud application network requirements; optimized for financial institution environments.
Likely employs data caching for performance optimization.
Uses CDN technology as per cloud infrastructure standards.
Supports load balancing to maintain platform availability and performance.
Supports automatic scaling to handle variable workloads.
Integrated monitoring for system health, security, and performance.
Supports centralized logging for audit and compliance purposes.
Advanced analytics systems built in for fraud detection insights and compliance reporting.
No verified information on A/B testing capabilities.
Offers sandbox environments for client testing and validation.
Supports API versioning to ensure compatibility with client integrations.
Provides standard development tools, APIs, and SDKs to clients and partners.
No verified information on specific SDK language support.
Employs automated testing for platform reliability and security.
Utilizes continuous integration and continuous deployment tools for development.
Likely supports blue-green deployment strategies common in enterprise SaaS.
Supports rollback capabilities as part of software update best practices.
Integrated performance monitoring systems.
No verified public info on distributed tracing support.
Uses profiling tools internally for performance optimization.
No verified info available on hot-swapping capabilities.
Cloud-based; no specific hardware requirements for clients.
Supports multi-tenancy for cloud deployment serving multiple institutions.
Designed to support thousands of concurrent users across client institutions.
Supports horizontal scaling to manage increasing data and user volumes.
Optimized for low latency to support real-time fraud detection and alerting.
Cloud infrastructure supports geographic distribution for resilience and compliance.
Comprehensive disaster recovery and business continuity plans integrated into platform.
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Supports zero-downtime updates to minimize service interruption.
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Fully cross-platform accessible via web browsers on desktop and mobile devices.
Interfaces optimized for various screen sizes to support diverse user devices.
Not supported; platform requires internet connectivity.
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Supports integration with third-party regulatory, compliance, and financial data providers.
No verified information on CMS integration.
No verified direct payment gateway integration; focuses on fraud detection in transactions.
Supports CRM integration to streamline customer risk and compliance management.
No specific marketing tools integration known.
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Supports integration with business intelligence tools for enhanced reporting and analytics.
Provides strong integration for regulatory and compliance reporting.
User access managed by client institutions; supports secure authentication mechanisms.
Supports two-factor authentication for enhanced user security.
Integrated KYC and identity verification features as part of AML compliance.
Supports automated document verification workflows.
Not specifically applicable; platform focuses on financial crime.
Includes geolocation analytics for risk assessment.
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Includes behavioral analytics to detect suspicious patterns.
Real-time suspicious activity alerts are core to the platform.
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Supports CRM system integration to enhance customer risk management.
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Supports SMS notifications for alerting in compliance workflows.
Supports push notifications for real-time alerts.
Provides case management for complaint and investigation tracking.
Customer support includes live chat options.
Provides multi-tiered support services to clients.
Support primarily in English; may provide multilingual support as needed.
Maintains a knowledge base for customer self-service and training.
No verified information on video verification.
Supports account blocking functionality as part of fraud mitigation.
Supports temporary account freezing in response to suspicious activity.
Provides secure password recovery mechanisms.
Complies with GDPR for data protection of European customers.
Supports rights to data deletion in compliance with privacy regulations.
Supports export of user data to meet regulatory requests.
Integrates with various payment systems indirectly through client financial platforms.
Supports risk monitoring of bank transfer payments.
Limited support; no primary focus on cryptocurrency transaction monitoring.
Supports fraud monitoring related to e-wallet transactions.
Supports compliance monitoring for mobile payment channels.
Supports monitoring related to prepaid card transactions.
Indirectly supports monitoring of instant deposit fraud.
Supports monitoring of scheduled deposit transactions.
Supports detection of suspicious fast withdrawal activity.
Monitors automated withdrawal transactions for fraud.
Supports rules and alerts for deposit and withdrawal limits.
Supports multi-currency transaction monitoring.
No verified information on automatic currency conversion.
No verified support for simultaneous fiat and cryptocurrency monitoring.
No public information about DeFi integration.
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Provides a comprehensive AML system integrating monitoring, alerts, and case management.
Includes automatic transaction screening against sanctions and watchlists.
Incorporates sanctions list integration to meet regulatory requirements.
Supports suspicious activity reporting to regulators.
No direct tax accounting capabilities; focuses on compliance reporting.
Automatically generates compliance reports.
No verified information on integration with tax systems.
No specific fee accounting; focuses on compliance and fraud.
Not a primary focus.
Monitors transaction disputes but not directly focused on chargebacks.
Advanced fraud detection system specializing in payment transaction monitoring.
No verified direct integration; likely compatibility with external 3D Secure systems.
Provides credit and fraud risk assessment analytics.
Supports fraud monitoring for installment payment schemes.
No verified information on buy-now-pay-later integration.
Provides solutions tailored to corporate banking compliance needs.
Not publicly documented.
Holds industry-standard security certificates; specifics not publicly detailed.
Likely compliant; no explicit public confirmation available.
Software supports PCI DSS compliance environments but does not process payments directly.
Fully GDPR compliant for security and privacy.
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Undergoes regular security audits consistent with financial sector requirements.
Supports ongoing penetration testing programs.
No public information on bug bounty programs.
Supports data encryption at rest.
Supports data encryption in transit.
Provides end-to-end encryption for sensitive data transmission.
Maintains robust key management systems.
No verified information on hardware security module support.
Integrated intrusion detection systems.
Includes DDoS protection within cloud infrastructure.
Uses firewall and Web Application Firewall protections.
Applies rate limiting for security and performance.
Continuous security monitoring for threats.
Supports Security Information and Event Management (SIEM) integration.
Provides automatic alerts for security incidents.
Supports established incident response procedures.
Implements backup and disaster recovery systems for data protection.
Uses geographic redundancy for resilience.
Likely provides RTO/RPO guarantees within service level agreements.
Has comprehensive business continuity planning.
Employs strong access control systems.
Supports role-based access control.
Maintains audit trails for all system actions and transactions.
Includes built-in analytics tools for operational and compliance insights.
Supports real-time analytics to detect suspicious activity.
Provides operator dashboards for case and fraud management.
Supports custom report generation.
Automatically generates compliance reports.
Supports scheduled reporting workflows.
Supports export in formats such as CSV, XML, and JSON.
Enables data mining capabilities for fraud pattern detection.
Incorporates predictive analytics powered by machine learning.
Advanced machine learning analytics for fraud and AML.
Applies behavioral analytics for suspicious activity detection.
Supports cohort analysis identifying risk groups.
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Provides support via phone, email, and live chat.
Offers 24/7 technical support to clients.
Provides multi-level customer support services.
Supports remote diagnostics for troubleshooting.
Offers onsite support for enterprise clients as needed.
Uses ticketing systems for issue tracking.
Provides service level agreements with uptime and support guarantees.
Offers priority support for key clients.
Provides dedicated account and support managers.
Offers migration assistance for onboarding new clients and systems.
