BNP Paribas Securities Services Invests in Compliance Fintech Firm Fortia
Fintech vendor specializes in development of machine learning, artificial intelligence for compliance and regulatory requirements.
As part of its investment, BNP Paribas Securities Services will implement Fortia's Innova platform within its depository banking business. The Innova platform utilizes artificial intelligence and machine learning technologies to manage regulatory data and monitor fund compliance with regional and international requirements.
"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," said Jean Devambez, global head of product and clients solutions, asset and fund services, at BNP Paribas Securities Services, in a statement.
Financial details of the investment were not disclosed.
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