Fintech start-up Fortia gets investment from BNP Paribas

Fintech start-up Fortia gets investment from BNP Paribas

BNP Paribas Securities Services has acquired a minority stake in Fortia Financial Solutions. This deal helps Fortia, a start-up that provides compliance software to the financial services industry, cement the relationship it formed with the bank during the inaugural session of the fintech accelerator by L’Atelier BNP Paribas.

Fortia’s marquee product, the Innova software platform, comprises eight modules that use machine learning and artificial intelligence (AI) to help manage, process, control and understand data.

The solutions are tailored to help companies monitor risk, analyse data, manage AML and KYC requirements, and provide support for overall investment compliance.

“Fortia’s Innova solution tackles two very real challenges for financial services companies and institutional investors – growing regulatory requirements and mounting volumes of data – by applying new technologies in an intelligent and innovative way,” says Jean Devambez, global head of product and client solutions, asset and fund services, at BNP Paribas Securities Services.

“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.”

By Soumik Roy, editorial contributor to Banking Technology