19 January 2018
visit http://response.ncr.com

Compliance tech specialist Strevus raises $5.6m in series a funding

19 February 2014  |  4022 views  |  0 Risk on chalkboard

Strevus, a San Francisco-based startup providing data sharing risk and compliance management technology to financial service institutions, has raised $5.6 million in a series a funding round led by Blumberg Capital.

US Venture Partners and existing angel investors also participated in the round.

Strevus promises to help financial services firms as they struggle to collect monitor and maintain the up-to-date, proprietary information necessary to meet the dynamic requirements of global mandates such as KYC, AML, Dodd-Frank, Emir, Fatca and Gatca.

It says that its patent-pending system enables firms to facilitate communication, validation and reporting of compliance information between their clients, counterparties and regulators. Using permission-based access, the technology lets counterparties securely retrieve their information at a granular level and to monitor all usage of that information.

The company - set up in 2012 by a team of financial services and technology specialists - says that it will use the new funding to push an aggressive growth plan and build on the technology platform.

Says David Blumberg, who is joining the Strevus board: "Whether looking for a solution to meet the pending Fatca rule, support an institution's mobile strategy for KYC requirements or any number of current or future regulations, Strevus' flexible approach allows institutions to implement all global compliance regulations using a singular solution."

Strevus is joining an increasingly crowded field of firms pushing to build compliance data sharing services for financial services firms. In January, Switzerland-based KYC Exchange launched a Web-based communication platform for Know Your Customer (KYC) and Customer Due Diligence (CDD) data sharing for the international banking community. This came just weeks after global banking co-operative Swift announced plans for the creation of a global Know Your Customer (KYC) Registry to provide users with access to a central repository of up-to-date institutional information shared by participating banks.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

KYC Exhange Net launches Web-based platform for due diligence data sharing

KYC Exhange Net launches Web-based platform for due diligence data sharing

17 January 2014  |  9752 views  |  2 comments | 4 tweets | 9 linkedin
Regulators slate financial firms for poor counterparty risk measures

Regulators slate financial firms for poor counterparty risk measures

16 January 2014  |  5333 views  |  1 comments | 4 tweets | 9 linkedin
Swift to move into compliance space with KYC Registry

Swift to move into compliance space with KYC Registry

07 January 2014  |  11415 views  |  2 comments | 16 tweets | 27 linkedin
Dodd-Frank cross-border payment rules to be major compliance challenge, say banks

Dodd-Frank cross-border payment rules to be major compliance challenge, say banks

29 January 2013  |  8154 views  |  1 comments | 7 tweets | 3 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.fivedegrees.nlvisit www.vasco.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11067 views comments | 32 tweets | 37 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10256 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9867 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9349 views comments | 18 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8375 views comments | 8 tweets | 6 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job