English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 15 December 2022, 16:30 HKT/SGT
Share:
    

Source: Acin Ltd
JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group make new strategic investment in operational risk management firm Acin
Acin closes Series B with consortium of industry-leading banks

LONDON, Dec 15, 2022 - (ACN Newswire) - Acin, the global operational risk control data network, today announced it has closed $24 million in Series B funding from a strategic consortium of industry-leading banks, comprised of JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group.

The funding round was also supported by existing investors Notion Capital, Talis Capital and Fitch Ventures, the equity investment arm of Fitch Group.

This funding will enable further strategic product development in partnership with investing banks and existing clients. Additionally, it will enable Acin to expand and accelerate into new areas across the financial services industry.

Acin's platform empowers financial institutions to digitise their operational and non-financial risk analysis, using ground breaking data analytic capabilities. Acin has established a network that calibrates data and facilitates the sharing of best practice between firms, underpinned by a standardised library of risks and controls. The results revolutionise the understanding and management of firms' operational and non-financial risk positions accelerating their journey to become safer and more efficient. Minimising operational risk capital is a shared industry ambition and Acin's solution is a key building block.

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/7475J_1-2022-12-14.pdf

About Acin

Founded in 2018, the Acin platform is the defining global operational risk network for connecting and quantifying data from the world's largest financial institutions. Acin's data analytic capabilities reveal gaps, duplication, and granular areas of weakness, enabling faster remediation at lower costs for completeness and optimised operations. This insight gives member firms exponentially deeper insights across their risk management landscape and against peer best practices.

Acin is making the financial services sector safer, delivering prioritisation and acceleration of value to transformation and simplification programmes, plus ongoing dynamic risk management value across all three lines of defence, enabling significant operational cost savings. Combined with substantial contributions to loss/penalty avoidance and the ability to evidence industry comparison and progress towards stated goals, reinvigorated discussions are now possible at both board and regulator level around residual risk and capital allocation.

Acin has achieved global industry recognition, including Risk.net's OpRisk Innovation of the Year 2022 (second year in a row), Best ESG Risk Data Provider 2022, FS Tech Awards Risk Management Software of the Year 2021, and was named one of the most innovative regtech companies in 2019 and 2020.  Visit www.acin.com to learn more.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Topic: Investment
Source: Acin Ltd

Sectors: Daily Finance, Funds & Equities, Banking & Insurance, PE, VC & Alternatives, Startups, FinTech
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
Value Research Center (VRC) at SSUNGA78: 'How Purpose, Value, and Impact will Drive a Sustainable Post- SDG Future'  
Monday, September 25, 2023 2:00:00 AM
Famous French Perfume Brand HOMFE Unveils QUEEN 55 and KING 55, Redefining Luxury  
Sept 22, 2023 21:00 HKT/SGT
Sharps Technology, Inc. CEO is Featured in an Interview with SmallCapsDaily  
Sept 22, 2023 21:00 HKT/SGT
TOYOTA GAZOO Racing returns to South American roads  
Friday, September 22, 2023 5:26:00 PM
Fujitsu marks next stage of "Work Life Shift" with new corporate hubs in Tokyo area to boost productivity, data-driven management  
Friday, September 22, 2023 3:20:00 PM
Spritzer Renews Environmental Stewardship Commitment on 34th Anniversary  
Sept 22, 2023 15:00 HKT/SGT
HUB.ID Summit returns, recalibrating Indonesia's Tech Investment  
Sept 22, 2023 13:00 HKT/SGT
Leading experts from NVIDIA, NASA, Gartner, Coinbase and DHL to headline Tech Week Singapore in October  
Sept 22, 2023 12:15 HKT/SGT
Fujitsu and Hokuhoku Financial Group launch trials for generative AI to streamline operations for Hokuriku Bank and Hokkaido Bank  
Friday, September 22, 2023 11:32:00 AM
Academic Labs Leverages AI and Crypto to Make Quality Education Accessible Globally  
Sept 22, 2023 11:25 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2023 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575