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Giesecke+Devrient invested in the UK- based deep technology firm FNA

By Joy Dumasia

July 13, 2021

  • Gieseckedevrient
  • UK

Giesecke+Devrient (G+D), a global security technology group headquartered in Munich, has invested through its Corporate Venture Capital arm, G+D Ventures, in UK-based FNA (Financial Network Analytics), a deep technology firm specialising in advanced network analytics and simulations.

The partnership focuses on building the future of money by developing software enabling the world’s central banks to safely test and model the impact of introducing a central bank digital currency (CBDC) on the financial and economic system. Existing investors IQ Capital and GettyLab have also further invested in this new funding round.

Central Banks, many having experimented with distributed ledger technology (DLT), will now deploy simulation technology to thoroughly test and understand the economic, liquidity and financial stability implications of introducing a CBDC.

FNA and Giesecke+Devrient (G+D) provide unparalleled subject matter expertise and market access across the modelling, simulation and development of CBDCs. G+D’s strategic investment is designed to allow FNA to accelerate innovation, build additional resources, and develop its CBDC simulation software further. 

The investment will also support ongoing global growth and reinforce recent major customer acquisitions. As part of the transaction, G+D will also join the company’s Board as observers. 

FNA’s Founder and CEO, Dr Kimmo Soramäki, added: “Our mission is to make the financial system safer and more efficient, and for more than a century, G+D has had the same objective, making them a perfect partner. As technology continues to change the world, how we interact with money is next to disruption. The unique combination and capabilities of FNA and G+D will allow us to provide the necessary software financial regulators and institutions need to prepare for the next evolution of the global financial system: the launch of the central bank digital currency.”

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