OpenFin announced securing a strategic investment from ING Ventures
By Joy Dumasia
OpenFin, the operating system of enterprise productivity, announced that it had secured a strategic investment from ING Ventures, the venture capital arm of ING making investments in companies that have strategic relevance to ING. The capital will accelerate the expansion of OpenFin OS throughout the financial industry.
OpenFin’s web-based OS has become the de facto standard in financial services for powering next-generation applications and digital experiences for employees and clients. The software is now used at more than 2,400 banks and wealth and asset management firms in 60+ countries.
This announcement follows a period of accelerated growth since last year’s launch of OpenFin Workspace, the new visual interface of OpenFin OS, which includes components for complex windowing, advanced search, actionable notifications and application discovery. Built on Google’s Chromium engine, OpenFin OS simplifies app distribution, unifies the digital workspace and enables seamless communication and workflow between apps.
The latest round of capital will be used to accelerate the expansion of OpenFin OS to every user within financial services. The firm’s software is already being used by 23 of top 25 global banks as well as many of the world’s leading asset managers and financial services vendors. ING adopted OpenFin’s technology in 2021 to accelerate its desktop transformation strategy. Employees now have access to easy workspace management and automated workflows which are intuitive, user-friendly and help increase productivity.
Frederic Hofmann, Co-Head of ING Ventures, said: “Our investment in OpenFin further validates our determination and commitment to digital transformation and innovation. We are excited to partner with OpenFin as they have proven to be the best-in-class app platform in this space, transforming distribution and significantly enhancing end-user productivity across the finance industry.”
Adam Toms, Chief Operating Officer at OpenFin, said: “We are delighted to have the backing of ING Ventures as we accelerate our expansion across Financial Services. ING’s focus on innovation and their footprint across the world makes them an ideal partner for OpenFin.”
IBS Intelligence recently reported that Edgewater Markets has partnered with OpenFin, the operating system (OS) for enterprise productivity, to provide extended native desktop capabilities for FX traders. As a result, the full suite of products by Edgewater Markets is now available on OpenFin and is being distributed to clients globally.
IBSi Daily News Analysis
August 19, 2022
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