Polish banks Alior Bank, BNP Paribas and PKO Bank Polski have invested in Polish fintech firm Autenti.
The deal is said to be the first such investment, where three competing banks have put money.
With Autenti, users can speed up document approvals with electronic signatures.
The fintech plans to use the fresh infusion to develop its product line and expand internationally.
The new solutions will boost banking, simplify internal document circulation as well as affect the environment positively, noted Autenti.
Using the capital, the firm also intends to strengthen its workforce.
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Autenti CEO Grzegorz Wójcik said: “Thanks to the capabilities of the banks that we invited to the group of investors and their openness to cooperation across divisions, electronic signatures available through Autenti will facilitate the work of both smaller companies and large enterprises from various sectors of the economy.
“We will soon address our offer to clients and partners abroad.”
Alior Bank CEO Krzysztof Bachta said: “The collective investment (in Autenti fintech) of three competing banks is a perfect example of a partnership where technology meets finance, thanks to which we may look into the future.
“In a few years, this type of solution will have been the market standard. Thanks to the electronic signature and circulation of documents, Alior Bank’s clients will profit from more convenient and faster access to our products and services, from anyplace around the globe.”