Barclays has made a strategic investment in the research and data analytics company Kharon.
Details regarding the amount invested were not divulged.
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Kharon is focused on global security threats and other controversies that impact global commerce and finance industry.
By investing in Kharon, Barclays has joined the existing investor Equity Group Investments (EGI), and other institutional and private equity investors.
EGI has backed Kharon since 2016.
EGI president Mark Sotir said: “In an increasingly challenging risk environment, Kharon’s unique data and analytics solutions provide highly relevant and differentiated compliance insights to its customers.
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By GlobalData“We are pleased to be a strategic capital partner to a top-line specialist with a strong leadership team, and to welcome Barclays as a co-investor.”
Barclays head of compliance services Mark Gibbins added: “Having worked with Kharon for some time, we are pleased to be strengthening our relationship through this strategic investment.
“The investment demonstrates Barclays’ commitment to managing compliance requirements by utilising data to enhance our technology and analytics solutions.”
Kharon provides trade, regulatory and financial crime compliance solutions.
The latest investment underscores Kharon and Barclays’ shared commitment towards innovation and data-driven intelligence.
The company’s regtech solutions provide companies with critical intelligence and analytics, supply chains, investments, and risk areas of their customers.
Kharon CEO Matthew Epstein said: “Barclays’ move from client to partner and now to investor reflects our shared belief in the broad industry and geographical applicability of Kharon’s technology, analytic products, and expertise.
“From risk and compliance teams seeking to strengthen KYC and screening processes; to technology providers keen to examine every stage of their supply chain; to investors looking to assess a company’s long-term performance; Kharon supports companies in a wide range of industries around the world.”
According to a recent report, Barclays is being probed by the UK’s privacy regulator for spying on its staff.
