Compliance
Digital Digest: The Latest Tech News - Sigma, Fitch

The latest developments in technology products and investments in the North American market.
Sigma Ratings,
a New York-based risk intelligence platform that helps companies
stay compliant with regulations, has drawn investment from
ratings agency big-hitter Fitch Group. This adds to investments
from FinTech Collective, Contour Ventures, and Barclays.
The investment was made through Fitch Ventures, the equity
investment arm of Fitch Group.
As money laundering scandals and other problems put know-your
clients and AML controls under the spotlight, Sigma said its tech
enables firms to screen and check risks rapidly, slashing tasks
from hours to seconds.
“Non-financial risks such as governance and financial crime are
becoming more relevant to Fitch's bank credit ratings,” Shea
Wallon, managing director, Fitch Ventures, said. "An increased
focus from market participants on the risks related to financial
crime and governance underpins Fitch's decision to invest in
Sigma, as well as to pursue joint work and research between Fitch
Ratings and Sigma.”
The firm’s services are used by major banks, asset managers,
insurers and money service providers.