Exiger, a provider of regulatory, financial crime, risk and compliance solutions, has raised a $80m investment from Carrick Capital Partners.
Carrick, an investment firm focused on supporting the scaling of technology and technology-enabled services companies, has purchased a minority stake in the RegTech. Following the investment, the firm will provide capital to help Exiger accelerate its growth by continuing to build out and acquire differentiated technology and technology-enabled solutions.
“Thematically, we have been seeking to invest in a GRC platform that helps global banks and multinational corporations solve their critical financial crime compliance challenges. Exiger’s approach – combining true subject matter expertise and subscription-based, purpose-built solutions like DDIQ and Insight 3PM – is truly unique,” said Jim Madden, co-founder and managing director of Carrick and newly appointed Board member of Exiger.
Founded in 2013, Exiger gives financial institutions, multinational corporations and governmental agencies with the advice and technology needed to prevent compliance breaches, respond to risk, remediate major issues and monitor ongoing business activities.
Operting through offices in London, New York City, Silver Spring (DC Metro), Toronto, Vancouver, Hong Kong and Singapore, Exiger’s professionals advise on best ways to restructure compliance processes for a sustainable approach to KYC and ABC compliance programs.
While its technology solutions include Exiger Analytics, Exiger Insight 3PM and DDIQ.
DDIQ is an AI-based automated due diligence solution that accelerates and enhances risk assessment related to clients, investments, transactions, third-parties and counterparties. The company claims DDIQ rapidly executes hundreds of searches and analyses thousands of sources. It then identifies, classifies, and ranks the risk-based information and delivers it in an easy to read profile.
Michael Beber, Exiger’s President and CEO noted, “Carrick’s deep knowledge of Artificial Intelligence (“AI”), specifically Machine Learning (“ML”) and Natural Language Processing (“NLP”), will benefit DDIQ, our industry-first, AI-based RegTech solution purpose-built to disrupt and fundamentally improve KYC onboarding, monitoring and refresh and transaction alter clearing and adjudication in a cost effective, consistent, auditable manner.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
