Google has long worked to make phone calls less annoying with features like automatic call screening and spam detection.
According to Google's support page, Verified Calls is a feature that helps users learn more about incoming calls before answering.
Unlike call screening, which can be initiated by the user on any incoming call, Verified Calls only come from businesses that have gone through Google's approval process.
Verified Calls require the business to send call information to a secure Google server.
If everything's legit, the Phone app displays the call as being Verified, and presents the helpful info provided by the business.