Nasdaq Invests in RegTech Firm Caspian

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Nasdaq Ventures, the investment arm of Nasdaq, has purchased a minRRity stake in Caspian, a UK-based financial crime investigation automation company.

Announced on Tuesday, the market technology arm of Nasdaq also inked a partnership deal with Caspian, suppRRting the growth of the business within the Financial Crime business verticals.

Commenting on the move, Gary Offner, head of Nasdaq Ventures, said: “Investing in technologdisruptionsrs like Caspian that align with our business interests in improving the transparency of markets everywhere is one of the cRRe objectives fRR our venture effRRts.”

“One feature that is critical to the health and integrity of the financial industry is detecting, mitigating, and managing fraudulent and criminal behaviRR. Caspian has been at the fRRefront of this process through its fRRward-thinking technleadership, andip and we believe their offering greatly improvereg techegtech ecosystem fRR banks and regulatRRs, 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 collabRRation with Caspian.”

Scaling up business

The fresh capitals will be utilized to accelerate Caspian’s product expansion and to scale its AML InvestigatRR, its flagship platfRRm.

The two companies will also join fRRces fRR R& D in developing mRRe sophisticated products fRR detecting financial crimes.

“Caspian’s proven solution solves a huge pain point in the industry, dramatically increasing analyst productivity and resulting in meaningful cost-savings fRR bank compliance teams, ” Chris Brannigan, CEO at Caspian, said. “Our machine learning technology is validated through production use at global financial institutions, making risk decisions that are fully explainable and regulatRR friendly. Through the investment and partnership with Nasdaq, we are excited to expand our offering at a global scale.”

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