Nasdaq Ventures Invests in Automated Financial Crime Investigations Firm Caspian
June 04 2020 - 7:00AM
Nasdaq (Nasdaq: NDAQ) announced today that its investment arm,
Nasdaq Ventures, has taken a minority stake in the UK-based
financial crime investigation automation company Caspian. In
addition, Nasdaq’s Market Technology business has forged a
partnership with Caspian to support the growth of the business
within the Financial Crime business verticals.
With this additional funding, Caspian, an industry leader in
automated AML (anti-money laundering) investigation technology,
will accelerate its product expansion and scale of its
award-winning platform, AML Investigator. Nasdaq’s leading position
in financial crime will accelerate Caspian’s go-to-market, with the
company’s expertise supporting growth at scale. Further, the two
companies will look for additional opportunities to synergize
R&D efforts to advance developments in combating financial
crime in the global financial services industry.
“Investing in technology disruptors like Caspian that align with
our business interests in improving the transparency of markets
everywhere is one of the core objectives for our venture efforts,”
said Gary Offner, Head of Nasdaq Ventures. “One feature that is
critical to the health and integrity of the financial industry is
detecting, mitigating and managing fraudulent and criminal
behavior. Caspian has been at the forefront of this process through
its forward-thinking technology leadership and we believe their
offering greatly improves the regtech ecosystem for banks and
regulators, and ultimately the consumer. We are excited to align
our investment interests with our business mission to jointly
strengthen the fight against financial crime through our
collaboration with Caspian.”
“Caspian’s proven solution solves a huge pain point in the
industry, dramatically increasing analyst productivity and
resulting in meaningful cost-savings for bank compliance teams,”
said Chris Brannigan, CEO, Caspian, “Our machine learning
technology is validated through production use at global financial
institutions, making risk decisions that are fully explainable and
regulator friendly. Through the investment and partnership with
Nasdaq we are excited to expand our offering at a global
scale.”
The terms of the investment were not disclosed.
Nasdaq's world-leading market technology powers more than 250 of
the world's market infrastructure organizations and market
participants, including broker-dealers, exchanges, clearinghouses,
central securities depositories and regulators, in over 50
countries with end-to-end, mission-critical technology
solutions.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the
capital markets and other industries. Our diverse offering of data,
analytics, software and services enables clients to optimize and
execute their business vision with confidence. To learn more about
the company, technology solutions and career opportunities, visit
us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
About Caspian
Caspian automated investigation technology harnesses machine
learning with human expertise to help global banks fight money
laundering and financial crime. Their platform delivers proven
investigation consistency and efficiencies whilst placing the
explanation of decisions and regulator integrity at its core. To
learn more about the company and career opportunities, visit
www.caspian.co.uk or follow LinkedIn and @Caspian_uk.
NDAQG
Media Contacts
Nasdaq
Ryan WellsMobile: +1 646 648 3887ryan.wells@nasdaq.com
Yan-yan Tong Mobile: +46 (0)73 449 66 83
yan-yan.tong@nasdaq.com
Caspian
Geoff Phillips Mobile: +44 780 182 8000
geoff.phillips@caspian.co.uk
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