Borrowing technology and resources from their background in robotics, the owners of Verafin were able to establish a unique approach to preventing financial crimes. Their solution combines advanced artificial intelligence technologies with sophisticated pattern recognition techniques. The software is programmed to think about transactions the same way a person would, giving it the ability to spot suspicious account activity. Without having any direct competitors in the province, the owners of Verafin were able to develop their technology and create a unique market for themselves. The friendliness and hospitable nature that has been ingrained in their roots as Newfoundlanders and Labradorians has allowed Verafin to offer unmatched customer support and quickly expand across North America.
C&W Industrial Fabrication and Marine Equipment
Innovation comes in many forms. C&W is a fabrication company located in Bay Bulls, NL. The company has been in operation since 1972. They specialize in the manufacturing of seafood processing equipment, onshore and offshore factory vessels, and custom aluminum work. For the last seven years, C&W has been working with an American transient ocean engineering company that makes remotely-operated vehicle (ROV) systems for the oil and gas industry. C&W has been responsible for manufacturing stainless steel protective casings for these ROV units, called ROV Cursor Guides. As a complete ROV package, these units are then sold to oil companies and used in exploration hotspots around the world.