Five Banks Including JPMorgan, Citi Invest In Risk Management Provider

  • JPMorgan Chase & Co JPMCitigroup Inc CBNP Paribas BNPQF BNPQYBarclays Plc BCS and Lloyds Banking Group PLC LYG have backed an overall $24 million fundraising for Acin, risk control specialist.
  • The investment will help Acin accelerate its strategic product development.
  • "We have been working with Acin for the past three years, during which they have supported our established operational risk management and assessment practices," said Julian Liau, Chief Controls Manager at JPMorgan, in a Reuters report.
  • Acin helps financial institutions digitize their operational and non-financial risk analysis using its data analytic capabilities.
  • The company was founded in 2017. It raised $12 million in 2020 in a round led by Notion Capital with participation from Fitch Ventures and other individual investors.
Market News and Data brought to you by Benzinga APIs
Posted In: Large CapNewsPenny StocksTechGeneralBriefsDiversified BanksFinancials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!