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January 31, 2017updated 04 Apr 2017 1:19pm

BNP Paribas Securities Services takes stake in fintech startup Fortia

BNP Paribas Securities Services has acquired a minority stake in Fortia Financial Solutions, a fintech startup that focuses on artificial intelligence, machine learning and business process monitoring to help firms meet compliance needs.

By Verdict Staff

BNP Paribas Securities Services has acquired a minority stake in Fortia Financial Solutions, a fintech startup that focuses on artificial intelligence, machine learning and business process monitoring to help firms meet compliance needs.

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Fortia, established in 2012, has developed an investment compliance platform named Innova that helps asset managers and asset owners monitor the compliance of their funds in accordance with regulatory norms.

BNP said that it plans to deploy the Innova platform within its depositary banking business to help clients gain access to advanced data and analytics and improve operational efficiency.

BNP Paribas Securities Services Asset and Fund Services global head of product and clients solutions Jean Devambez said: “By taking a stake in Fortia, we are not only helping a start-up flourish but also ensuring our clients have access to the latest technologies to grow and develop their business, meet compliance requirements and enhance operational efficiency.”

Fortia founder Reda Bouakel added: “We are very pleased with this strategic partnership, which will provide Fortia not only with the necessary financial resources for its development but also with a strong business expertise essential to the evolution of our offerings.”

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

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