JPMorgan invests in risk management fintech
AccessFintech, a British risk management platform designed for banks, brokers and buy-side firms, announced on Tuesday that JPMorgan Chase has become an investor in its Series A funding round. Terms of the investment were not disclosed, which followed an initial seed round that was privately funded.
Additionally, AccessFintech announced it had joined JPMorgan’s In-Residence program — which is designed to help emerging fintechs grow and eventually deploy at an enterprise level. The program will enable AccessFintech to further test its technology at scale through collaboration between the two firms, the company said in a press release.
AccessFintech’s platform lets financial firms track a trade after its execution in order to get a sense of risk across a number of systems. It creates a single visual display of the risk of financial transactions.
“We have been tracking AccessFintech’s product evolution for some time and we think its ability to bring together different parts of the post-trade process into one aggregated view is technology that is long overdue in the industry,” Lawrence Waller, global head of markets and investor services operations at JPMorgan, said in the release.
“To progress further, they need the opportunity to work at scale and so they make a very natural fit for our In-Residence program, which encourages success through collaboration and the sponsorship of our senior management.”
AccessFintech was founded in 2016 by Roy Saadon, a founder of the market infrastructure technology provider Traiana.
“A strategic source of funding can provide a fintech company with credibility and market momentum well beyond the pure financial support,” Saadon said in the release. “JPMorgan has been at the genesis of many successful industry platforms and initiatives, and the In-Residence program is an innovative vehicle for its engagement with fintechs. We look forward to working with the In-Residence team.”