Neotas – a leading provider of online due diligence for banks and financial services firms – has been selected by global bank ING to join its fintech accelerator in Brussels.
The London-based company has been chosen from 350 worldwide to join ING Labs Brussels, which aims to fast track new fintech solutions for the bank and its customers. The accelerator, formerly known as FinTech Village, has a strong reputation within the fintech community and has helped around 30 companies to bring new solutions to market in the past few years.
Neotas uses powerful search techniques to analyse a company’s or an individual’s ‘digital footprint’ through publicly available information or ‘open sources’, providing advanced insights without invading their privacy. It helps banks and financial institutions to comply with anti-money laundering (AML) rules or the Senior Managers & Certification Regime (SMCR) or carry out pre-investment checks.
Vipul Mishra, CEO and co-founder of Neotas, said: “We are proud to have been chosen to join ING Labs Brussels. Our involvement comes at a time when we are expanding our operations globally and will provide us with unrivalled access to the knowledge and networks needed to help us scale faster. Our mission is to make online due diligence readily available to all and in today’s digital era, now is the time to disrupt the market.”
Neotas’ intelligence platform is powered by artificial intelligence and the company has partnered with the University of Essex’s Language and Computation Group to help develop its proprietary technology and natural language processing capabilities further.
Founded in 2017, Neotas is already helping over 80 firms across the financial services sector to protect their reputation, manage risk and comply with the latest regulatory obligations.