Xenomorph Increasing Reach and Capabilities With New Funding

New funding from longtime backer HSBC will allow enterprise data management (EDM) services provider Xenomorph to build more capabilities into its TimeScape EDM+ analytics and data management platform, according to Brian Sentance, CEO of Xenomorph.

Xenomorph will also be able to address compliance with more regulations through TimeScape, he adds.

"The funding helps us expand a little further in building regulatory related layers, modules and functionality," Sentance says. "We are getting our capabilities on what we're doing with particular regulations better known."

The Fundamental Review of the Trading Book (FRTB) standard from the Basel Committee is a significant regulatory compliance target for Xenomorph. FRTB and other new regulations are particularly apt areas for Xenomorph's data analytics capabilities, according to Sentance.

"It's a great endorsement that HSBC feels they understand what we do with regulation and that we're pushing data management forward into that area," he says.

HSBC's funding also will accelerate Xenomorph's global marketing plans for TimeScape EDM+. "It was critical that Xenomorph had access to reliable financing. Our team was able to provide this support with a flexible package and it is hugely rewarding to see the business already winning new clients," said James Patterson, area director for business banking in the City of London at HSBC, in a statement. "The funding comes from our commitment to lend £2.5 billion to small and medium-size enterprises this year and Xenomorph is a brilliant example of how this can be used to support the booming London fintech sector."