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Verafin Records Another Year of Revenue and Bookings GrowthST. JOHN'S, Newfoundland --(Business Wire)-- Verafin Inc. (www.verafin.com), a leading provider of fraud detection and anti-money laundering (FRAML™) software, today announced another year of growth with a nearly 50% increase in bookings and revenue versus 2011. "We have made a significant investment to create the ultimate customer experience in our Software-as-a-Service [SaaS (News - Alert)] environment," says Jamie King, Verafin's CEO. "Our strong new customer growth and high customer retention rate give a powerful indication that financial institutions believe in the value that Verafin provides." During 2012, Verafin's momentum continued as the company wrapped up another year of notable achievements, including:
Offering a FRAML software solution that analyzes customer activity and data for anomalous activity across transaction channels, Verafin enables fraud detection and BSA/AML compliance professionals to quickly and effectively respond to suspicious activity. Powerful and easy-to-use, the FRAML software is a complete package, from alert generation to case management and automated electronic regulatory reporting. About Verafin Verafin is a leader in enterprise fraud detection and anti-money laundering solutions (FRAML™) for financial institutions across North America. It's software utilizes advanced behavior-based analytics that allows banks and credit unions to stay a step ahead of cutting edge fraud trends and the BSA, USA PATRIOT Act, and FACTA compliance landscape. Verafin is the exclusive provider of fraud detection and BSA/AML software for the California Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, CUNA Strategic Services and has industry endorsements covering 44 states across the U.S. For more information, visit www.verafin.com, email [email protected] or call 1-866-781-8433. © 2013 Verafin Inc. All rights reserved.
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