BNP Paribas Securities Services has taken a minority stake in fintech start-up Fortia Financial Solutions, a software company which uses artificial intelligence, machine learning and business process monitoring to help the fund industry meet rising compliance requirements and manage mounting volumes of data.
Founded in 2012, Fortia has developed Innova, a new generation investment compliance platform. Innova helps asset managers and asset owners ensure they have the right controls in place to systematically and efficiently monitor the compliance of their funds with local and international regulatory requirements.
BNP Paribas Securities Services’ stake in Fortia is expected to help finance the growth of the company, which will also benefit from BNP Paribas’ expertise and knowledge of its target market. BNP Paribas Securities Services also intends to implement Innova within its depositary banking business, helping clients enhance controls and operational efficiency and get access to advanced data and analytics and scenario simulation applications.
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With offices in 34 countries and a global reach covering over 95 markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
Jones Day has advised BNP Paribas Securities Services on the deal with a team led by Renaud Bonnet.
Involved fees earner: Renaud Bonnet – Jones Day;
Law Firms: Jones Day;
Clients: BNP Paribas Securities;