Nasdaq to acquire Verafin for $2.75 billion
By MYBRANDBOOK
Nasdaq is going to acquire anti-financial crime group Verafi for $2.75 billion, accelerating the US exchange's evolution into a Saas technology provider. Verafin provides to more than 2,000 financial institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. Verafin’s innovative fraud and AML detection platform, combined with Nasdaq’s leading trade and market surveillance solution, will empower Nasdaq to play an increasingly important role in building stronger economies around the world.
With the deal, the exchange group is doubling down on its push into the anti-money laundering software sector and furthering its strategy of repositioning the company as a leading financial technology and data vendor.
It has a strong foothold in the trade surveillance software market, as well as in the trading technology systems sector. It made its first move in the anti-money laundering software market in September when it launched artificial intelligence technology to help retail and commercial banks automate investigations.
Valerie Bannert-Thurner, Senior Vice President and Head of Sell-Side and Buy-Side Solutions, Market Technology at Nasdaq, said, "The problem of detecting money laundering and fraud hasn't been solved very well yet. With our acquisition we are doubling down on our belief this as an area that is being disrupted and where we can have a big impact."
Nasdaq's push comes as banks and other financial firms look to automate many of their more expensive and complex back office processes to reduce costs and increase efficiency.
This includes compliance and surveillance functions, where costs have been growing significantly following tougher regulatory crackdowns over the past decade.
The acquisition marks another milestone in Nasdaq's effort to diversify its revenue stream away from trading, where fees have been declining, into areas such as technology and data.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
VEHERE INTERACTIVE PVT. LTD.
TP-LINK INDIA PVT. LTD.
SECUREYE SERVICES PVT. LTD.
TATA CONSULTANCY SERVICES
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla recently made a comeb...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
