SEATTLE–(BUSINESS WIRE)–#banking—PortX, a leading financial infrastructure and integration technology company that provides open access to the core and drives innovation for credit unions with its integration-platform-as-a-service (iPaaS), Fintech Hub, today announced a strategic partnership with Nasdaq Verafin, the industry-leading provider of financial crime management solutions. This collaboration reinforces PortX’s mission to deliver innovative, integrated solutions for financial institutions and highlights Nasdaq Verafin’s commitment to comprehensive, real-time financial crime detection and management.
Financial institutions utilizing PortX’s Fintech Hub can now seamlessly access Nasdaq Verafin’s real-time anti-money laundering (AML) and know-your-customer (KYC) solution for various transactions, including wires, ACH, and FedNow. The partnership provides a streamlined and cost-effective approach to enhance compliance and risk management by enabling banks and credit unions to conduct real-time OFAC and sanctions screening as a native feature of PortX’s platform.
“Financial institutions need fast, seamless ways to stay ahead of financial crime,” said David Wexler, CEO of PortX. “Our partnership with Nasdaq Verafin makes this process super simple for banks and credit unions to connect AML and KYC tools directly to their core systems without the usual headaches. Less manual work, faster response times, and stronger compliance is a win for everyone.”
For Nasdaq Verafin, this collaboration expands its opportunities to serve its clients by leveraging PortX’s Fintech Hub and its extensive library of pre-built connections. This enables quicker integration, simplified workflows, and improved accessibility to essential financial crime management data.
About PortX
PortX’s Fintech Hub is the Integration-Platform-as-a-Service focused on financial services infrastructure that allows open access to core data and simplifies integrations to third-party fintech applications. Access to data and the freedom to connect with partners enables rapid project delivery, agile innovation cycles, and optimal user experiences. PortX facilitates interoperability between internal systems and services such as online banking, credit checks, mortgage and loan applications, and more, allowing for a real-time 360-degree view of account holder data. Financial institutions can empower their teams to connect to fintech partners and real-time payment networks like Zelle®, ACH, FedNow, and others. For more information, please visit portx.io and connect on LinkedIn.
About Nasdaq Verafin
Nasdaq Verafin provides cloud-based Financial Crime Management Technology solutions for Fraud Detection, AML/CFT Compliance, High-Risk Customer Management, Sanctions Screening and Management, and Information Sharing. More than 2,500 financial institutions globally, representing more than $8T in collective assets, use Nasdaq Verafin to prevent fraud and strengthen AML/CFT efforts. Leveraging our unique consortium data approach in targeted analytics with artificial intelligence and machine learning, Nasdaq Verafin significantly reduces false positive alerts and delivers context-rich insights to fight financial crime more efficiently and effectively. For more information, please visit Verafin.com.
Contacts
Media Contact:
Brad Allen
[email protected]
