Verafin Ranked as One of the Fastest Growing Companies in North America on Deloitte's 2012 Technology Fast 500
Verafin Ranked as One of the Fastest Growing Companies in North America on Deloitte's 2012 Technology Fast 500
St. John’s, NL—November 15, 2012
Verafin Inc., a leading provider of fraud detection and anti-money laundering (FRAML™) software, today announced that it ranked number 231 on 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 2007–2011. Verafin grew 358% 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 25th place ranking.
“Last year, when we ranked in the 2011 Technology Fast 500, we felt it spoke to our amazing growth,” exclaimed Brian Whiteway, Chief Financial Officer (CFO) of Verafin. “To place in this year’s rankings is a firm indication of our team’s success at creating a long-term vision that is built on achieving strong and sustainable annual growth. Our continued momentum is a testament to the hard work of everyone here at Verafin. It also speaks to the strong relationship we strive to develop with our customers, the passion they share for our solution and our commitment to working with them.”
“The 2012 Technology Fast 500™ winners are true leaders who leverage their entrepreneurship and technological innovation to achieve strong growth,” said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Their commitment and leadership continue to transform the technology sector.”
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 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 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.