Freedom251 › Financial Crime Compliance Software
Nasdaq Verafin
What Nasdaq Verafin is
Nasdaq Verafin is a cloud platform for financial institutions that offers fraud detection, AML/CFT compliance, customer risk management, sanctions screening, investigations, and regulatory reporting. Its fraud alerts cover deposits, checks, wires, ACH, account takeovers, cards, and loans. AML/CFT monitoring analyzes transactions across channels alongside customer profiles and past behavior to identify activity such as structuring and possible terrorist financing. The platform can identify, segment, risk score, and monitor customers in higher-risk categories, while sanctions tools support screening, watchlist updates, case handling, reporting, audits, and sensitivity testing.
Investigators can document cases, attach files, assign tasks, and record decisions. Currency Transaction Reports and Suspicious Activity Reports can be populated, reviewed, and submitted electronically to FinCEN. Integrations use APIs and batch files, including customized extracts and formats such as Check21, NACHA, Fedwire, SWIFT, and ISO8583. The Entity Research Copilot automates open-source and negative-news research and produces cited records. The Agentic AI Workforce automates anti-financial-crime workflows from alert dispositioning through case investigations and regulatory reporting. Its stated security controls include field-level encryption, data hashing, application data masking, role-based access management, and cryptographic data destruction. The company says more than 2,600 institutions globally use the platform.
Who it suits
Verafin suits financial institutions that need to monitor activity across channels, investigate alerts, manage higher-risk customers, and prepare regulatory reports. Institutions registered for FinCEN Section 314(b) information sharing can also collaborate through FRAMLxchange, which is free to eligible members.
What it does well
- Fraud alerts cover deposits, checks, wires, ACH, cards, loans, and account takeovers.
- AML/CFT monitoring considers transactions, customer profiles, and historical behavior.
- Investigators can manage cases, files, tasks, and decisions in one component.
- Reports can be reviewed and submitted electronically to FinCEN.
- Consortium analytics use anonymized data without sharing personally identifiable information between institutions.
What to know first
- Product pricing is available by request rather than as a listed price.
- FRAMLxchange requires financial institution membership and FinCEN Section 314(b) registration.
Limits
The product price is available on request. FRAMLxchange is free, but requires financial institution membership and FinCEN Section 314(b) registration.
Plans
| Plan | Billed and limits | Price |
|---|---|---|
| Nasdaq Verafin Financial Crime Management | Financial institutions · Request a demo or product information | On request |
As verafin.com lists them, read 5 Oct 2026. The maker's own page has the final word.
Getting started
- Visit the Verafin website.
- Request product information or a custom demo.
- Discuss the Nasdaq Verafin Financial Crime Management plan and pricing with Verafin.
- Connect institutional data using APIs or batch files.
- For FRAMLxchange, ensure the institution is registered with FinCEN for Section 314(b) information sharing.
Verdict
Choose Nasdaq Verafin if your financial institution needs a platform for financial crime monitoring, investigations, and reporting. Its broad coverage includes fraud, AML/CFT, risk management, and sanctions workflows. Organizations seeking a listed product price should request information or a demo.
Questions
How much does Nasdaq Verafin cost?
Pricing is on request. Verafin directs prospective customers to request product information or a demo.
What platforms does it support?
The listed platforms are web and API. Deployment is cloud based.
Who is Nasdaq Verafin for?
It is intended for financial institutions. The company reports that more than 2,600 institutions globally use it.
Does Verafin offer a free service?
FRAMLxchange is free of charge for financial institution members registered with FinCEN for Section 314(b) information sharing.
What integrations does Verafin support?
It uses APIs and batch files, including customized extracts and formats such as Check21, NACHA, Fedwire, SWIFT, and ISO8583.
What security and compliance measures does Verafin describe?
It describes field-level encryption, data hashing, application data masking, role-based access management, cryptographic data destruction, SOC 2-audited processes, and a GDPR program in place since 2016.
Facts from Nasdaq Verafin's own pages
- Agentic AI
- The Agentic AI Workforce automates anti-financial-crime workflows from alert dispositioning through case investigations and regulatory reporting. · verafin.com, 5 Oct 2026
- AI investigation tools
- Its Entity Research Copilot automates open-source and negative-news research and creates cited research records for investigators. · verafin.com, 4 Oct 2026
- AML analytics
- The platform uses artificial intelligence and machine learning analytics to identify activity such as structuring and potential terrorist financing. · verafin.com, 4 Oct 2026
- AML/CFT
- Its AML/CFT solution monitors transactions across multiple channels and analyzes customer profiles and historical behavior to generate alerts. · verafin.com, 5 Oct 2026
- API and file data
- Its data integrations use APIs and batch files, including customized extracts and formats such as Check21, NACHA, Fedwire, SWIFT, and ISO8583. · verafin.com, 5 Oct 2026
- Case management
- Investigators can document cases, attach files, assign tasks and record decisions in the integrated case management component. · verafin.com, 4 Oct 2026
- Compliance
- Verafin states that it maintains SOC 2-audited processes and has had a GDPR program in place since 2016. · verafin.com, 4 Oct 2026
- Founded
- 2003 · verafin.com, 28 Sept 2026
- FRAMLxchange eligibility
- Joining FRAMLxchange requires an institution to be registered with FinCEN for Section 314(b) information sharing. · framlxchange.verafin.com, 5 Oct 2026
- Fraud detection
- Its fraud solution analyzes customer activity across channels and covers deposit, check, wire, ACH, faster payments, account takeover, card, and loan fraud. · verafin.com, 5 Oct 2026
- Free FRAMLxchange
- Verafin's FRAMLxchange terms state that FRAMLxchange is provided free of charge and requires financial institution membership and FinCEN Section 314(b) registration. · framlxchange.verafin.com, 4 Oct 2026
- Headquarters
- St. John's, Newfoundland and Labrador, Canada · verafin.com, 28 Sept 2026
- High-risk customers
- The high-risk customer solution identifies, segments, risk scores, and monitors customers in higher-risk categories. · verafin.com, 5 Oct 2026
- Information sharing
- Investigators at 314(b)-registered institutions can exchange information and collaborate on investigations within Nasdaq Verafin’s secure environment. · verafin.com, 5 Oct 2026
- Integrations
- Nasdaq Verafin says it interfaces with more than 100 data sources, including 65 core banking systems and electronic funds transfer, switch, teller, ACH, wire, check imaging, and online banking platforms. · verafin.com, 5 Oct 2026
- Intended customers
- Verafin describes its platform as serving financial institutions, and its materials report that more than 2,600 institutions globally use it. · verafin.com, 4 Oct 2026
- Pricing
- The product pages direct prospective customers to request a demo, and the contact page invites them to request product information; the pages opened do not state product pricing. · verafin.com, 5 Oct 2026
- Pricing availability
- The contact page directs interested organizations to request product information and a custom demo; it does not list product prices. · verafin.com, 4 Oct 2026
- Privacy
- Nasdaq Verafin says its consortium analytics use anonymized data and do not share personally identifiable information between institutions. · verafin.com, 5 Oct 2026
- Product
- Nasdaq Verafin is a cloud-based platform for fraud detection and management, AML/CFT compliance, high-risk customer management, sanctions screening and information sharing. · verafin.com, 4 Oct 2026
- Purpose
- Nasdaq Verafin provides financial crime management solutions for detecting, investigating, and reporting fraud and suspicious activity. · verafin.com, 5 Oct 2026
- Regulatory reporting
- Currency Transaction Reports and Suspicious Activity Reports can be auto-populated, reviewed and electronically submitted from Verafin to FinCEN. · verafin.com, 4 Oct 2026
- Sanctions screening
- The sanctions solution offers targeted screening analytics, automated watchlist updates, case management, reporting, auditing, and sensitivity testing. · verafin.com, 5 Oct 2026
- Security
- The company describes lifecycle security controls including field-level encryption, data hashing, application data masking, role-based access management, and cryptographic data destruction. · verafin.com, 5 Oct 2026
Where Nasdaq Verafin stands on Freedom251
- Financial Crime Compliance Software#14 of 57
- Anti-Money Laundering Software#4 of 16
- Transaction Monitoring Software#6 of 17
- Financial Fraud Detection Software#7 of 19
- AML Compliance Software#10 of 26