Verafin named Canadian Innovation Leader
St. John's, Newfoundland and Labrador, Canada September 14, 2009
The Government of Canada today recognized Verafin as a national innovation leader for its unique approach to anti-money laundering and anti-fraud solutions for the finance industry.
The announcement was made by the Honourable Tony Clement, Minister of Industry, during a press conference held at the National Research Council, Institute for Ocean Technology in St. John's, Newfoundland and Labrador.
"Being recognized as a Canadian Innovation Leader is an incredible honour," said Jamie King, president of Verafin. "From day-one, we've put an emphasis on fostering and supporting innovation. This approach has allowed us to develop a next generation approach to protecting banks and credit unions from money laundering and fraud, and as a result we've gained a significant share of the market in last number of years."
A Canadian Innovation Leader is a small- or medium-sized enterprise that demonstrates specific advances in research and development within its industrial sector. The NRC Industrial Research Assistance program created the Canadian Innovation Leader Certificate Program to recognize Canadian firms that have successfully developed and applied innovative technologies.
About Verafin
Verafin is a leader in anti-money laundering and fraud detection solutions, with over 400 financial institution customers that span numerous core processing systems and a broad asset range. Verafin helps financial institutions comply with the Bank Secrecy Act, the USA PATRIOT Act, and FACTA Red Flag regulations, while also helping to protect them against bank fraud.