Nasdaq and ABA Partnership Will Help Banks Reduce Risk and Improve Performance

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Banks provide the very foundation for growth, innovation and wealth creation across our economy. However, today’s banks operate in an environment that’s getting more competitive by the day. Because of this, they require partners who can understand and solve their unique challenges.

This reality has fueled a new collaboration between the American Bankers Association (ABA) and Nasdaq.  Nasdaq has been selected to join the ABA Partner Network as a Premier Partner giving ABA member banks access to Nasdaq Verafin and Nasdaq Governance Solutions.

“The ABA is the voice of the nation’s banking industry, representing banks of all sizes and their two million dedicated employees.  At Nasdaq, we are committed to amplifying this critically important voice, and to shining a bright light on the strength and resilience of the U.S. banking sector – a sector that is a foundational cornerstone of our economy” said Adena Friedman, Nasdaq Chair and CEO.

The collaboration will help ABA’s member banks access the latest advanced technology to enhance innovation, boost collaboration, and improve operational efficiency. By reducing complexity, financial institutions will have more resources to invest in growth and innovation.

ABA President and CEO Rob Nichols rings the Nasdaq Opening Bell Alongside Nasdaq Chair and CEO Adena Friedman at ABA's Annual Convention

Today, the ABA and Nasdaq will celebrate their new partnership in a bell ringing ceremony in Manhattan, New York during the ABA Annual Convention following a fireside chat between Nasdaq Chair and CEO Adena Friedman and ABA President and CEO Rob Nichols.

As part of Nasdaq’s participation in the Partner Network, ABA members will have the opportunity to work with Nasdaq Verafin. Known for its cloud-based Financial Crime Management Technology, Nasdaq Verafin serves over 2,500 financial institutions by helping to prevent fraud and strengthen anti-money laundering and countering the financing of terrorism (AML/CFT) efforts. Through the Premier Partnership, ABA members will gain access to Verafin’s solutions and expertise, helping banks tackle some of the most pressing issues in the industry. Verafin’s resources, including a comprehensive library of insights on financial crime prevention, will be available to ABA members.

Nasdaq Governance Solutions will also play a key role in the partnership, offering tools designed to help public and private banks establish healthy best practice governance frameworks, ensure compliance to meet the evolving regulatory landscape, as well as better facilitate board evaluations and onboarding.     

These tools help institutions navigate the evolving regulatory landscape, better facilitate board evaluations and onboarding, and improve compliance. Nearly 800 banking and financial institutions worldwide already leverage the Nasdaq Boardvantage® board management platform to help their board members and governance teams protect sensitive board materials and communications, as well as equip them with essential information for better decision making.

Attendees of ABA’s Annual Convention Join ABA President and CEO Rob Nichols and Nasdaq Chair and CEO Adena Friedman on Stage

Together, the Nasdaq suite will help ABA bank boards manage increasing demands from stakeholders and enhance overall governance practices.

More broadly, the new partnership is based on the belief that the best way to future-proof the global financial system is to empower it. That means embracing technology, ensuring regulations are focused on achieving specified outcomes, and improving collaboration within the public and private sectors.

"As a new Premier Member, Nasdaq brings its unique expertise in the financial industry to the ABA Partner Network,” said Russell Davis, ABA’s Executive Vice President for member experience. “Its participation will be an asset to our member banks. By leveraging Nasdaq's advanced technologies and proven strategies, banks can optimize their processes, mitigate risks, and unlock new growth opportunities." 

ABA Premier Partners are selected for their commitment to the banking industry and alignment with the ABA’s mission to promote a strong banking system. The new partnership underscores the ABA and Nasdaq’s shared focus on empowering banks to help customers and communities thrive through pro-growth policies.

“Nasdaq is proud of our long-standing relationship with the ABA, as well as our deep partnership with many of the banks across the U.S. As home to 85% of all community and regional banks, we have worked together to navigate the important opportunities that come with being a public company bank – and our commitment has never been stronger” said Adena Friedman, Nasdaq Chair and CEO.

This collaboration highlights Nasdaq’s role as a trusted partner to the financial industry and its commitment to inclusive growth and innovation. 

Through its new partnership with the ABA, Nasdaq continues its quest to minimize complexity in order to build a more resilient global financial system. 

Cautionary Note Regarding Forward-Looking Statements:

Information set forth in this article contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to expected participation, deliverables, and benefits under the Partner Network. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.