back Back

Ballerine secures $5m in Seed funding for product expansion

By Delisha Fernandes

May 25, 2023

  • Anti-Money Laundering Solutions
  • Credit risk
  • Customer Experience
Share

BallerineBallerine, an open-source risk decisioning platform, has raised $5 Million in a seed funding round led by Team8.

The company provides an open-source platform that integrates global data sources and the necessary tools to automate and enhance decision-making processes for tasks such as onboarding (KYB), underwriting, and transaction monitoring.

Ballerine caters to any business handling financial transactions subjected to KYB, KYC, and anti-money laundering regulations, including most financial institutions, FinTechs, e-commerce, marketplaces, and other companies.

“The financial industry desperately needs infrastructure to support its ongoing digital transformation, infrastructure that empowers institutions to access and analyse data throughout the customer journey automatically,” said Noam Izhaki, CEO and Co-Founder of Ballerine, “Ballerine offers exactly that – it leverages dispersed data, simplifies privacy management, and empowers companies to enhance their risk-decisioning processes while maintaining control and flexibility continually.”

Ballerine’s open-source core gives developers and risk managers control over the infrastructure with a single integration and allows customisation to address specific needs around customer experience, risk exposures, audiences, and geographies.

Ballerine’s open-source platform is the next-gen infrastructure for risk and identity decisioning. It offers more flexibility for global financial services and large institutions, catering to many more use cases and allowing customers to extend and customise the platform.

“Ballerine has a real opportunity to transform the way any business handling financial transactions manages risk,” said Hadar Siterman Norris, Partner at Team8. “This funding will help Ballerine create the first open-source and developer-centric compliance infrastructure, propelling Ballerine to even greater heights. We are excited to be part of their journey.”

Previous Article

May 25, 2023

Accelex unveils Portfolio Analytics & Reporting Platform for alt investors

Read More
Next Article

May 25, 2023

AI-powered lender Qred wins banking license in Sweden

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Anti-Money Laundering Solutions

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 23, 2024

Zurich Insurance partners with BOXX to develop cyber risk solution

Read More

May 23, 2024

Data Zoo bags $22.7m in Series A from Ellerston JAADE to fuel global expansion

Read More

May 22, 2024

SurePay teams up with FIS to deliver Verification & CoP solutions

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023