Trunomi is revolutionizing the way financial institutions financial institutions share, manage and validate customer data. Its consent based data sharing platform enables them to securely connect to their customers, in full compliance with data privacy regulations. To further modify the technology involved in the platform, the company has bagged $3 million in seed round.
The investment will be used to continue evolving Trunomi’s technology in response to a demanding regulatory environment for financial institutions, and build on the business’ latest industry successes.
An award-winning fintech company, Trunomi attracted a cohort of investors including Fintonia Group, a leading fintech venture capital firm based in Singapore and WorldQuant Ventures in the US. The round was co-led by Saturn Partners and Fintonia, with the former adding to their investment in Trunomi along with several other existing investors. Fintonia Chairman & CEO Adrian Chng has joined the Trunomi board and brings a wealth of financial services and technology experience. He said,
The technology removes friction and creates industry wide efficiencies for customer on-boarding, account opening and know your customer obligations. We are excited to support Trunomi’s growth in Asia and globally, and look forward to working closely with Stuart and the team.
Consumers globally are becoming increasingly aware of the value of their own data. They are also living through a period of intense digitization in financial services. Stuart Lacy, CEO and founder of Trunomi said they recognize that the pressure is truly on financial services providers, not only to meet these market pressures but to operate in full compliance with a raft of new, global data privacy regulations. He further commented,
We’re excited to welcome Adrian onto our board and continue the great work that the existing team has already started to fundamentally change the way that people manage and share their personal data.
Trunomi has forged several strategic partnerships in recent months, including with Widerpool. Trunomi was the winner of Widerpool’s inaugural Global Call, a competition that awards partnerships with innovative growth-stage tech companies. This resulted in an investment being made by the firm in order to develop Trunomi’s proposition for the telecoms market.
Through offices in Bermuda, the U.S. and Europe, Trunomi’s mobile and web technology cuts costs, removes friction and delivers amazing customer experiences.