Regtech Firm TAINA Gets New Fund from HSBC, Deutsche Bank and SIX

TAINA, a London-headquartered regulatory technology (regtech) company founded in 2016, has secured an undisclosed sum from returning investors of HSBC Asset Management, Deutsche Bank CVC and Anthemis. SIX FinTech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Ventures, the corporate venture capital arm of Switzerland-based financial infrastructure provider, SIX, also participated in the round.

TAINA announced the new funding in a statement published on its website. The new investment comes over a year after the regtech firm received funding from the same investors, except SIX FinTech Ventures.

With the new fund, the regtech firm intends to grow its platform “for an expanding range of regulations, geographies and market segments,” Maria Scott, the Founder and CEO of TAINA, said in the statement. Last year, TAINA explained that its funding round afforded it the capacity to scale its regtech solutions, FATCA and the CRS Validation Platform.

“TAINA has also continued to add the world’s most sophisticated and largest financial institutions, funds, and fund administrators as clients, achieving its highest growth in customer count year-on-year in 2022,” the firm explained.

Check out this recent Finance Magnates London Summit 2022 session on fintech regulation.

Regtech in 2022

So far in 2022, the regtech industry has witnessed a number of deals and integrations. In May, Brand New Day, a Dutch neobank tapped the services of the regtech firm, Sentinels, a technology provider for anti-money laundering (AML Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Read this Term) transaction monitoring, to boost its AML controls. A month before the deal, Fenergo, a provider of digital solutions for know-your-customer and client lifecycle management, acquired Sentinels for an undisclosed sum.

Also in May, another regtech firm b.fine joined forces with Point Nine to include the latter’s trade and sanction reporting solution into its b.rx Marketplace in order to extend its reporting coverage. Furthermore, in May, BroadPeak Partners, a low-code data management provider, exclusively licensed its data preparation, integration and orchestration platform, K3 System, to CoinRegTech for 20 years.

Meanwhile, at the start of the year, the Australian Securities and Investment Commission selected five regtech firms for the Business Research and Innovation Initiative (BRII) to find a solution to the challenges of corporate disclosure. The selected companies were Bedrock AI, DigitalX Limited, Eastern Analytica and Listcorpcand Pyxta.