ING joins $19.3m funding round for RegTech Ascent

November 10, 2019 | RegTech

Written by FinTech Alliance

ING joins $19.3m funding round for RegTech Ascent

The Dutch banking giant invests in the US Artificial Intelligence outfit

In Brief:

  • Through AI and machine learning Ascent helps companies build, manage, and automate financial regulatory compliance.
  • Founded in 2015, Ascent's customers include ING, Commonwealth Bank of Australia and Bremer Bank.
  • The new investment will be used for recruitment, product development and raising brand awareness.

What this means

Automation is already proving to be a game changer in many areas of financial services. AI can supercharge that automation though companies will have to demonstrate its transparency as it becomes more advanced. 

Read more here

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