TAINA Technology has secured investment from Deutsche Bank and HSBC Asset Management’s Financial Technology Venture Capital Fund in a recent funding round.
The two large global financial institutions were joined by TAINA’s existing investor Anthemis in the raise.
Founded in 2016, TAINA is a RegTech company that claims it is on a mission to help financial institutions comply with their regulatory requirements whilst dramatically improving their customers’ experience, saving costs and reducing risks.
The company seeks to transform regulatory compliance into a competitive advantage for all forms of financial institutions and their service providers. TAINA markets a FATCA, CRS and QI compliance platform to help transform financial institutions’ customer and investor experience and reduce risks and costs.
TAINA CEO Maria Scott said, “Team TAINA is delighted to welcome Deutsche Bank and HSBC Asset Management’s Financial Technology Venture Capital Fund to the TAINA Family as we keep pressing ahead with our mission of delivering the golden standard for FATCA, CRS and QI Compliance for the industry. We will deploy this fresh injection of financial and intellectual capital to add even more value to our clients, empowering them to transform their customers’ experience whilst driving down their costs and eliminating operational and audit risks.”
Deutsche Bank head of central corporate venture capital Joerg Landsch added, “Investing in selected FinTech solutions will enable Deutsche Bank to improve the client experience and increase productivity by further digitalizing our front-to-bank processes. We are excited to collaborate with TAINA to support our client onboarding in the area of tax reporting and look forward to being part of the company’s growth path.”
HSBC Asset Management director for venture and growth investments Kara Byun also commented, ““We believe tax-compliance demands will intensify and TAINA’s digital solution is well placed to answer those demands. Tax reporting is complex and good digital design eases the process. This investment round will boost TAINA’s expansion, enhancing its customer footprint internationally.”
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