RegTech firm TAINA Technology has successfully raised a round of funding with key backers including HSBC and Deutsche Bank.
Other investors include SIX FinTech Ventures and Anthemis.
In the first quarter of next year, TAINA claims it is looking forward to welcoming other top tier global financial institutions as investors and clients, with details to be disclosed in due course.
TAINA remarked, “Financial institutions are under growing cost pressure, and customers are now increasingly judicious about their customer experience with financial institutions platforms. For these reasons we are seeing increasing RegTech adoption across the financial industry, with purchases of best-in-class RegTech solutions by some of the largest and most sophisticated financial firms.
“In our latest series a funding rounds we are seeing that financial institutions want to invest in RegTech providers as more than just vendors. They are looking for true partners that understand and address their financial and strategic objective, and they select partners with whom there is a clear strategic synergy.”
As a result of the company’s last funding round, TAINA has been able to scale over the year of 2022. The company’s FATCA and CRS Validation Platform has scaled to include new value add market leading capabilities, the firm claims.
TAINA said that in 2023, the firm plans to scale and grow even further by delivering even more cutting-edge solutions that add value to our clients. The company aims to also continue to grow and build its priority jurisdictions and explore new markets that are coming into scope of the expanding regulations.
TAINA CEO Maria Scott said, “With this new injection of very supportive capital, TAINA is looking forward to achieving a number of objectives on its mission to grow as the Best-in-Class Platform for the industry, for an expanding range of Regulations, Geographies and Market Segments”
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