# Verafin

Verafin is an Asset Manager based in St. John's, Canada.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** St. John's, Canada
- **Region:** North America
- **Address:** St. John's, Newfoundland and Labrador, Canada
- **Founded:** 2003
- **Assets under management:** Undisclosed
- **Website:** verafin.com
- **LinkedIn:** https://www.linkedin.com/company/verafin

## Regulatory record

- **Reports private funds:** No

## About

Nasdaq Verafin provides Financial Crime Management Technology solutions for Fraud Detection, AML/CFT Compliance, High-Risk Customer Management, Sanctions Screening and Management, and Information Sharing.

## Sectors

- Enterprise Software
- FinTech
- AI/ML

## People

- Jamie King — Co-Founder and CEO
- Brendan Brothers — Co-Founder
- Raymond Pretty — Co-Founder

## Questions

### Who runs day-to-day operations at Verafin after the Nasdaq acquisition?

Co-founder Jamie King has remained at the helm as CEO of the Verafin business unit within Nasdaq. Brendan Brothers and Raymond Pretty, the other two co-founders who built the company alongside King at Memorial University, also continued in senior roles post-acquisition. The firm has retained its engineering hub in St. John's, Newfoundland.

### Why did Nasdaq pay $2.75 billion for Verafin?

Nasdaq's 2021 acquisition gave it a dominant position in anti-financial crime software for the small- and mid-tier US banking market, a sector-facing adjacency to its core market infrastructure business. Verafin had built a consortium data network of approximately 2,500 institutions that was difficult to replicate, creating a durable competitive moat and a recurring SaaS revenue base that complemented Nasdaq's market technology division.

### What is the consortium data model, and why does it matter for compliance?

Verafin aggregates anonymized financial crime typologies and behavioral signals from its network of more than 3,000 financial institutions. When one bank identifies a novel fraud pattern, that intelligence enriches the detection algorithms for every other member. This network effect means a small credit union receives the collective intelligence of the entire client base, achieving detection capability comparable to much larger institutions.

### Is Verafin a publicly traded company?

No. Since its February 2021 acquisition by Nasdaq, Verafin operates as a wholly owned subsidiary of Nasdaq, Inc., a publicly traded company listed on the Nasdaq exchange under the ticker NDAQ. Verafin's financial results are reported as part of Nasdaq's Financial Technology division, but the entity itself does not trade independently.

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Last updated: 2026-06-03T20:00:00.000Z

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