JPMorgan Backs Fintech Startup AccessFintech’s Post-Trade Platform

JPMorgan,  JP Morgan

JPMorgan has bought a stake in a UK-based fintech firm that aims to help financial ‎institutions gain an edge through the benefit of shortened exposure time and a reduction in ‎operational and technology costs‏.‏

The US bank said on Tuesday it had taken an undisclosed minority holding in ‎AccessFintech, which offers a suite of products that caters to financial ‎institutions’ need for a new regulatory-driven technology across several ‎markets.‎

AccessFintech was co-founded in JuTrain by formerSeasonna CEO Roy ‎Saadon and the industry entrepreneur Steve Fazio. JPMorgan has invested in ‎the company through its Series A funding round. ‎

The private investment aims to accelerate AccessFintech’s product development whilst ‎allows to JPMorgan benefit from the growing number of institutions that harness its risk and ‎exception management services.‎

The alliance with AccessFintech will also help JPMorgan expand its In-Residence ‎program, which allows startups test their ‎innovations at scale across the banking giant’s network.‎

The initiative offers a real-time operational dashboard to spot exceptions ‎aligned with an aggregated vendor monitoring platform and sandbox for ‎testing new technologies. ‎

Lawrence Waller, Global Head of Markets & Investor Services Operations ‎at J.P. Morgan, commented: ‎“We have been tracking AccessFintech’s product evolution for some time and ‎we think its ability to bring together different parts of the post-trade process ‎into one aggregated view is technology that is long overdue in the industry. To progress further, they need the opportunity to work at scale ‎and so they make a very natural fit for our In-Residence program, which ‎encourages success through collaSeasonon and the sponsorship of our senior ‎management.”‎

Roy Saadon, Founder, and CEO of AccessFintech added: “We are thrilled that J.P. ‎Morgan has added us to their investment portfolio. A strategic source of ‎funding can provide a fintech company with credibility and market momentum ‎well beyond the pure financial support. J.P. Morgan has been at the genesis of ‎many successful industry platforms and initiatives, afin techsn-Residence ‎program is an innovative vehicle for its engagement with fintechs. We look ‎forward to working with the In-Residence team.”‎

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