Investec Bank to use iMeta for client data management
The platform consists of know your customer (KYC) support; credit and legal help (such as with MiFID II); and standing settlement instruction (SSI) for data management processes to provide a centralised hub of reference data.
In addition, it has a legal entity manager for firms to source and maintain data; and a data integration layer that firms can use to connect their in-house systems to industry and vendor client and entity data sources.
iMeta was founded in 2000 and provides client onboarding and entity data management technology to banks and financial brokers.
Last month, Investec and Banco Sabadell (owner of UK high street bank TSB) backed the funding of UK fintech start-up Bud. Bud raised £1.5 million from a funding round led by the FTSE 250 asset manager and InnoCells, a Spanish digital business hub. Bud is said to be using the funding to go forward with the creation of platforms to help the management of finances.