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Behind The ScreenBehind The Screen
Home»Fintech»UBS invests in communications compliance platform Shield
Fintech

UBS invests in communications compliance platform Shield

December 1, 2022No Comments1 Min Read
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UBS abandons $1.4bn Wealthfront acquisition
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UBS has joined a $20 million Sequence B capital increase for Protect, a office intelligence platform for compliance groups at monetary companies corporations.

The spherical – led by Macquarie Capital and joined by UBS Subsequent, Mindset Ventures and OurCrowd – follows a $15 million Sequence A earlier this 12 months for Tel Aviv-based Protect.

Protect says its platform makes use of AI and NPL to allow regulated monetary establishments to detect market abuse, achieve behavioural evaluation, mitigate poisonous office tradition and in the end automate surveillance over all worker communication channels, saving each operational and compliance price.

The agency will use the brand new funding to develop in its current markets and push into new ones, together with the US. Additionally it is opening a second R&D facility in Lisbon.

Shiran Weitzman, CEO, Protect, says: “We’re thrilled to have the ability to start work with UBS on a number of ranges – as a shopper and now as an investor in our newest funding spherical.

“That is additional proof that there’s a direct market want for a contemporary, proactive answer that supercharges surveillance throughout communication channels and that Protect is well-positioned to fulfill that want.”

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Communications Compliance invests platform Shield UBS
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