Financial technology platform SRA Watchtower announced the completion of a new $4 million funding round led by existing investors FINTOP Capital, JAM FINTOP, and EJF Capital. And this funding round follows the successful acquisition of Lumio Insight, further supporting the company’s growth and expansion.
This funding round will build upon the recently acquired Lumio Insight application suite’s advanced data management and analytics capabilities to create AI-based ‘Risk Insights’. The seamless integration of these technologies will streamline and automate data ingestion into Watchtower’s risk engine, enabling transformative reporting and configurable dashboards that deliver actionable insights.
KEY QUOTES:
“Bank leaders and risk committees need reliable and timely data to make informed decisions. We see the industry consistently demanding better and more versatile tools in this space. Watchtower’s Holistic Risk and Business Intelligence Platform delivers timely and powerful data analytics. This team is well-positioned to scale and iterate upon this technology to address the evolving needs of the financial industry.”
– Joe Maxwell, Managing Partner at FINTOP Capital and Chairman of SRA Watchtower’s Board of Directors
“Watchtower creates the clearest picture of data through robust dashboards and reporting, empowering executives to cut through the noise, focus on what matters most, and make informed decisions on critical issues. Automating the ingestion of core system, general ledger, BSA, fraud, ALCO, economic, and other risk-related sources optimizes data aggregation and creates a single warehouse from which to generate risk and financial insights.”
– Russ Bernthal, SRA Watchtower Board Member
“SRA Watchtower is committed to helping financial institutions unlock the power of data which we believe is the currency of the future. This new funding further validates our mission of empowering institutions with actionable insights to optimize risk.”
– Edward Vincent, CEO of SRA Watchtower
