FinCom News
5 articles
growth-positive
Fincom, a Tel Aviv, Israel-based provider of anti-money laundering (AML) Sanction Screening and Entity Resolution technology, raised an undisclosed amount in Series B funding
Fincom, a company based in Tel Aviv, Israel, specializing in anti-money laundering (AML) technology, has secured Series B funding led by Nasdaq Ventures, with contributions from Macquarie Group, G1 Ventures, and existing investors AnD Ventures and ff Venture Capital. The funding amount remains undisclosed. The company plans to utilize the funds to expand internationally and introduce new services such as screening for Politically Exposed Persons (PEPs) and adverse media, along with Verification of Payee (VOP) services. Fincom, under the leadership of CEO Gideon Drori, aims to enhance AML compliance efficiency and reduce operational costs.
Investment
growth-positive
Fincom's 'Phonetic Fingerprint' for e-commerce platforms | CTech
Fincom, a company that provides a solution for AML sanction screening for banking, payments, and eCommerce, has raised $2 million in a seed funding round. The companys Phonetic-Linguistic Engine & Phonetic Fingerprint Technology helps banks and financial institutions meet AML compliance requirements while reducing operational costs by over 90% and mitigating alert rates from the industry average of 30% to less than 3%. The companys technology also helps to unify unstructured databases, a problem that has plagued the industry. The funding will be used for development and marketing.
Investment
Fincom completes Series A fundraising
growth-positive
VentureIsrael Invests in Israeli Startup Fincom.co, Developer of the 'Phonetic Fingerprint' AML Screening Solution
Israeli deep tech fund VentureIsrael and New-York based ff Venture Capital have participated in an investment round for Fincom.co. The investment will be used to accelerate rapid expansion in the AML market. Fincom.co develops and deploys Streamlined Data Search Solutions for instant and accurate AML/KYC, Data Mapping, Entity Resolution, and Homeland Security applications. Fincom.co has invented, patented, and commercialized core technology for database searching, mapping, and unification. The companys AML Name Screening solution has been approved and tested by Global Tier-1 Financial Institutions, Homeland Security Agencies, and Governmental Regulators. Fincom.cos reselling and OEM partners include payment platform providers, system integrators, governmental organizations, and global providers of data analytics.
Investment
growth-positive
AML detection outfit FinCom.Co comes to the UK
Israeli fintech start-up FinCom.Co has launched its services in the UK through the London Stock Exchanges Issuer Services Marketplace. The company offers an anti-money laundering (AML) platform that utilizes advanced mathematics and proprietary phonetic fingerprint technology to aid customer verification and compliance in real time. The platform can search records in over 25 languages and compares results with sanction and blacklist databases. FinCom.Cos solution aims to reduce false-positive results by over 90%. The Financial Action Task Force estimates that money laundering activities can cost the global economy between $590 billion and $1.5 trillion. FinCom.Co has developed strategic relationships with tier one banks and regulators to support compliance and data management.
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