Home Enterprise bank Wavecrest and MassMutual invest in level 1 financial solutions to accelerate the...

Wavecrest and MassMutual invest in level 1 financial solutions to accelerate the development of integrated customer journeys

1
0

TORONTO and NEW YORK, January 4, 2022 / CNW / – Tier1 Financial Solutions (“Tier1”), a leading provider of customer relationship management (“CRM”) solutions, AML compliance and fraud prevention solutions, has received a new equity financing of a group of investors led by Wavecrest growth partners (“Wavecrest”) and MassMutual Ventures. This latest investment in Tier1 will help drive the next generation of connectivity between compliance workflows and the customer experience, enabling Tier1 customers to create end-to-end integrated journeys in an efficient, cost-effective and reliable manner for their customers.

“We are very happy to continue to work with our long-time trusted partners at Wavecrest and MassMutual Ventures. Their increased investment demonstrates not only their support for Tier1 but also the company’s assertion that we remain ahead of the innovation curve in our AML compliance and CRM solutions, ”said Jiro okochi, CEO of Tier1 Financial Solutions.

The Tier1 Financial Solutions product suite includes the Alessa AML fraud prevention and compliance solution, as well as two specially designed CRM solutions – Tier1CRM for sell-side capital markets and Satuit for asset management and management firms. of heritage on the purchase side.

Regarding the fast growing Alessa compliance product, Eric Emmons, Managing Director of MassMutual Ventures commented: “Alessa provides a single platform that covers virtually all of the KYC / AML capabilities that all banks, money services companies, fintechs, insurance companies and other regulated industries must have in place. to properly protect their customers – including a single service for identity verification, customer due diligence, and real-time transaction monitoring and filtering – while enhancing KYC operations with a suite of advanced analytics features , such as anomaly detection and robust automated regulatory reporting. “

Tier1 is ending one of the most successful years in its 13-year history. In January he acquired Alessa, a provider of anti-money laundering and compliance solutions for banks, credit unions, money services businesses (MSBs) and fintechs; and in April he acquired Satuit Technologies to expand its global CRM footprint in the asset management industry. These acquisitions are in addition to the company’s original Tier1CRM capital markets product, which has continued to grow, including net retention of 104% this year.

About Wavecrest’s growth partners
Situated at Boston, Wavecrest Growth Partners is a growth capital firm focused on investing and partnering with leading B2B software and technology services companies. Wavecrest targets minority and majority investments in profitable, high-growth technology companies with proven business models and brings a differentiated mix of investment and operations expertise. The co-founders of Wavecrest have over two decades of combined experience investing and operating in growing B2B technology companies. For more information, visit us at http://www.wavecrestgrowth.com.

About MassMutual Ventures
MassMutual Ventures (MMV) is a global, multi-tiered venture capital firm investing in enterprise software, cybersecurity, fintech and digital health companies. With our deep expertise and our extensive Fortune 500 network, MMV helps entrepreneurs create compelling and scalable value businesses. MMV has offices at Boston and Singapore, with $ 450 million under management through five funds. The US-based team invests in North America, Europe, and Israel, while the Singaporethe based team invests through South East Asia, Hong Kong, India, Australia, and New Zealand. For more information visit www.massmutualventures.com.

About Tier 1 Financial Solutions
Tier1 Financial Solutions is a leading provider of customer relationship management (CRM), KYC and AML compliance, and fraud prevention solutions. Tier1’s portfolio of digital transformation solutions enables its customers to optimize customer engagement, increase operational efficiency and reduce regulatory compliance risk. Trusted by more than 300 companies and nearly 20,000 users worldwide, Tier1 delivers optimized workflow experiences, guest insights, and a centralized view of customer interactions that drive revenue-generating engagements. Serving the unique needs of capital markets, investment banking, investment management and professionals, Tier1 advances client relationships and workflows with data-driven insights on desktop devices and mobile, promoting compliance, collaboration, transparency and communication. For more information visit www.tier1fin.com.

Media contact:
PJ Kinsella
Executive Vice President, Media Relations
Paragon Public Relations
[email protected]
+1 (973) 255-7153

Cision

Show original content:https://www.prnewswire.com/news-releases/wavecrest-and-massmutual-ventures-up-investment-in-tier1-financial-solutions-to-accelerate-development-of-integrated-customer-journeys-301453191. html

SOURCE Level 1 Financial Solutions

Cision

Cision

Show original content: http://www.newswire.ca/en/releases/archive/January2022/04/c2513.html


Source link