Killick Capital

The Bank of Tampa upgrades from rules-based software to Verafin’s next generation FRAML solution

St. John’s, NL—January 12, 2011— Verafin, Inc., a leading provider of compliance, antimoney
laundering (AML) and fraud detection software, today announced it has surpassed 600
customers in North America. Through year end, 2010, Verafin had more than 630 bank and
credit union customers, marking the strongest quarter in the company’s history with a substantial
triple digit year-over-year customer growth.

“When you consider that we signed our 500th customer in May of 2010, this continuing growth
proves that financial institutions see the value in bringing together fraud and AML [FRAML]
processes,” said Jamie King, co-founder and CEO of Verafin. “As we rapidly deploy to more
banks and credit unions, with a single fraud and AML solution that drives higher customer
satisfaction and increased efficiency, the industry is recognizing how a combined solution lowers
the risk of financial and reputational loss.”

The Bank of Tampa, with $950 million in assets, is a full-service commercial bank
headquartered in Tampa, Florida. Verafin will enable the bank to combine its AML and fraud
detection efforts, which helps simplify BSA processes and reduce duplication investigations and
false positive alerts, resulting in better outcomes with less cost.

“Verafin was clearly a one-stop shop for a complete BSA/AML, fraud and risk solution,” said
John Deerin, Vice President BSA and Security Director of The Bank of Tampa. “We believe that
for years to come, Verafin will provide The Bank of Tampa with a complete BSA/AML solution.
Further, we believe Verafin has tremendous potential for fraud prevention in areas such as debit
card fraud, check fraud and other fraud risks.”

Prior to choosing Verafin, The Bank of Tampa was using AML software, but they were looking
for a more complete behavioral-based system that combined fraud and AML. Unlike traditional
rules-based systems, Verafin uses a behavior-based approach that relies on artificial intelligence
(AI) to search out unusual behaviors. This approach analyzes transactions and looks for patterns
of behavior that are unusual for the customer or are indicative of fraud or money laundering.

Verafin is an award winning, integrated and intelligent fraud detection and anti-money
laundering (AML) solution that combines the capability to detect and act upon various forms and
levels of fraud and money laundering, while providing complete visibility into customer activity
and ensuring comprehensive compliance reporting. Easy to use and implement, it is the only
solution in the financial services industry that combines the integration of the four most
important processes in preventing financial crime - fraud detection, anti money laundering,
regulatory agency reporting and core banking systems, with intelligent-based, behavioral
technology, used to detect financial crime, into a single platform.

About Verafin
Verafin is a leader in anti-money laundering and fraud detection solutions for financial
institutions, with nearly 650 customers that span over 60 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.

Press Contact:
Vicki Barbour
Verafin, Inc.
(709) 752.3050 x3228
vicki.barbour@verafin.com
© 2011 Verafin Inc. All rights reserved.