Israeli Company AccessFintech Raises $17.5m

AccessFintech, an Israeli financial technology company, announced that it has closed a $17.5 million series A financing round with investment from Citi, Credit Suisse, Goldman Sachs and JPMorgan Chase & Co.

As reported by Globes, the funding will enable the Israeli company to invest more in its risk and exception management services, expand globally and accelerate uptake within institutions in areas such as outsourcer oversight and credit monitoring.

The AccessFintech network aims at aggregating business exceptions, and providing risk management and resolution tools, through a framework of assignment and prioritization. Exceptions are usually created from business activities which include confirmations, surveillance and clearing.

These exceptions have a business impact and its severity is really hard to determine. Thus, AcessFintech provides a system to evaluate and visualize which user interaction is required, and by which firm.