Cybersecurity is the biggest compliance concern of organisations, according to new research from ComplyAdvantage.
It was named as the main concern by 54% of 600 companies surveyed in November and December 2020. The same research indicates that more than 6 in 10 compliance departments plan to upgrade legacy technology in 2021.
Trovata has closed its Series A funding round after raising $20 million. Wells Fargo Strategic Capital led the investment round with participation from new investors, Capital One Ventures and Pivot Investment Partners, as well as existing early investors, J.P. Morgan and FINTOP Capital.
"We are keen on how technology is reinventing the treasury function into a modern, insight-driven operation that helps our clients deliver on their business strategy," said Basil Darwish, Managing Director of Wells Fargo Strategic Capital, who joins the Trovata board.
Trovata said the investment will be used to deliver new services, accelerate multi-bank APIs globally, and add more bank distribution partners.
Treasury Technology news from the experts at Treasury Dragons.