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Nasdaq (Nasdaq:NDAQ) has acquired anti-financial crime management industry pioneer, Verafin in US$2.7Bn cash deal

Candice Cooke, United States - May 2021

Reach FinSettle



Nasdaq (Nasdaq:NDAQ) has acquired anti-financial crime management industry pioneer, Verafin in US$2.7Bn cash deal

Nasdaq has announced the acquisition of Verafin, a pioneer in the anti-crime management industry.

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.

Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. 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 strengthens Nasdaq's existing regulatory technology and anti-financial crime solutions. These include its renowned Nasdaq Trade and Market Surveillance offering; its Buy-side Compliance product, as well as the Nasdaq Automated Investigator for anti-money laundering (AML).

Nasdaq maintains deep relationships with the majority of leading Tier 1 and Tier 2 banks globally and it will accelerate Verafin's strategy of displacing legacy providers and manual processes with its cloud-based, state-of-the-art, market-proven solution.

Nasdaq acquires Verafin in a circa US$2.75 billion cash offer. The acquisition will forward Nasdaq's plans to create a global SaaS leader in the fight against financial crime. Financial crime is a worldwide problem that requires sophisticated technology and innovation to address.