Banking compliance automation solutions provider iconicchain raises €1 million
Summary
The Finnish fintech builds compliance automation solutions and intends to use the capital to continue international expansion efforts, specifically targeting both the UK and German markets. Based on blockchain technology, iconicchain digitises the compliance processes for the financial sector, thereby providing an automation solution. With two product offers, the startups’ IconicSecurities automates the lifecycle of asset-backed securities, all the while continuously evaluating and executing regulatory compliance. Saving institutions the laborious process, the system then files extracted data and valuations with the appropriate authorities and investors. Cutting no corners, and forward-looking, the startups’ IconicChainServer is, as the name might imply, a blockchain-based automation algorithm that can set up and configure blockchain-based solutions for financial institutions in minimal time.