ST. JOHN’S, Newfoundland--(BUSINESS WIRE)--Verafin Inc., a leading provider of compliance, anti-money laundering (AML) and fraud detection software, today announced that it ranked number 128 on the Technology Fast 500™, Deloitte’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2006–2010. Verafin grew 840 percent during this period.
Verafin was also listed on the Deloitte Technology Fast 50™, a ranking of the 50 fastest growing technology companies in Canada. Verafin’s five-year revenue growth rate resulted in a ranking of 27.
“Exciting is one of the first words that comes to mind,” exclaimed Brian Whiteway, Chief Financial Officer (CFO) of Verafin. “This is exciting for every member of the Verafin team, including our customers who have been with us every step of the way. It is a confirmation of the hard work we have put into creating a progressive and leading-edge anti-fraud and anti-money laundering software product. It also speaks volumes about the positive impact our software is having on the fight against financial crime in financial institutions across North America.”
“Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of an uncertain global economic recovery,” said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Verafin is an example of the determination, drive and skill that will serve to position them for further growth and success in the years to come.”
For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15™ Awards (Canada’s leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, Wellington Financial, TMX Group, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.
About Verafin
Verafin is a North American leader in anti-money laundering and fraud detection solutions for financial institutions, with nearly 750 customers that span more than 65 core processing systems and a broad asset range. Verafin helps financial institutions comply with the Bank Secrecy Act, USA PATRIOT Act, and FACTA regulations, while also helping to protect against fraud. Verafin is the exclusive provider of BSA/AML and fraud detection software for the California Bankers Association, Massachusetts Bankers Association, CUNA Strategic Services and 40 credit union leagues and associations in the United States. For more information, visit www.verafin.com, email us at FRAML@verafin.com or call 1-866-781-8433.
As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
© 2011 Verafin Inc. All rights reserved.