Digital Reasoning today announced a strategic investment by SC Ventures, Standard Chartered Bank's innovation, ventures and fintech investments division. Thus, the round of financing of the series D-1 amounts to a total of 40 million US dollars.
In addition to this investment, Digital Reasoning will partner with Standard Chartered Bank to expand the range of communications surveillance financial services products in the Asia-Pacific, Middle East and other international markets.
"Digital reasoning is a leader in communications analysis, identifying and finding important risks and insights from human language and behavior. This requires a better understanding of different languages and contexts in many cultures. "
said Tim Estes, founder and president of Digital Reasoning.
"Standard Chartered is a leading global bank with a very diverse presence. We believe that the partnership will accelerate the applicability of our solutions in Asia, the Middle East and Africa. Together, we will further democratize the use of AI to understand the languages in markets where these new solutions can be used forever. "
SC Ventures' investment enables Digital Reasoning to continue its market-leading position in e-communications and voice monitoring for compliance and extend it to other neighboring use cases within financial institutions worldwide. In addition, it will support Digital Reasoning's efforts to expand the ready-made model catalog to support the growth of financial markets in Asia, the Middle East and Africa.
Alex Manson, Global Head of SC Ventures, said:
"Combating misconduct and unethical behavior in financial services is a non-negotiable obligation as a bank, a task that is becoming even more complex as a result of our digitally networked financial system. Digital Reasoning is a leader in behavior monitoring and well positioned to help our industry fulfill this commitment. "
Digital Reasoning's D-1 round of financing saw its first closing last year, led by BNP Paribas, which was attended by Barclays, Square Capital, Goldman Sachs, Nasdaq, Lemhi Ventures, HCA and the Partnership Fund for New York City. Macquarie then invested in this round of financing and SC Ventures was the youngest investor to make a contribution.
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