JACKSONVILLE, Fla., – Azimuth, a compliance automation pioneer, announced today that it has been selected to participate in the 2023 FIS Fintech Accelerator program. In partnership with The Venture Center, the FIS Fintech Accelerator program aims to accelerate the pace of innovation in financial services by identifying and advancing startup financial technology firms with high potential.
Azimuth’s mission is to transform the way every industry manages regulatory compliance and provide a fair and equitable experience for every customer. It is the only company to replace sample-based manual testing with automated full-population compliance testing. With its revolutionary platform, institutions can quickly test an entire portfolio and determine if it is compliant.
“We are honored to be chosen for the FIS Fintech Accelerator program,” said Rohin Tagra, CEO and Founder of Azimuth. “Our solutions help financial institutions address the gaps in regulatory management. Currently, most financial institutions still rely on manual, resource-heavy processes, which are inefficient and costly. This lack of transparency can also lead to serious problems. At the same time, financial institutions continue to seek out ways to cut costs and must do so without compromising strong compliance management efforts.”
Tagra continued, “At Azimuth, we’re revolutionizing the way companies manage compliance. We are the only company to replace manual sample-based testing with automated full-population compliance testing, making it easier for organizations to meet their legal obligations with confidence and ease. We look forward to being a part of this latest cohort and the value we’ll bring to the financial industry.”
The FIS Fintech Accelerator program actively seeks new fintech startups and nurtures their creative ideas to bring innovative technologies to FIS clients. This FIS program represents the largest ready-made ecosystem for fintechs, providing them the unique combination of infrastructure to build on, a vast distribution network to tap, and subject matter expertise to guide them toward success. This is an evolution and culmination of nearly a decade’s worth of work providing support for fintech startups by offering one-on-one guidance complemented by FIS’ deep expertise and industry experience.
Since its founding, Azimuth has experienced strong growth. The company is backed by Truist Ventures, the corporate venture capital division of Truist Financial Corporation, Detroit Venture Partners, founded by Dan Gilbert, Rocket Mortgage Founder and Chairman, Mosaik Partners, a Silicon Valley-based investor of B2B fintech companies, and Andromeda Systems Incorporated (ASI), a provider of expertise and capabilities in the reliability, maintenance, supportability, engineering and logistics disciplines.
Earlier this year, the company released its automated HMDA filing solution, HMDA Validator, making the filing process faster, more accurate and more cost effective for financial institutions. Azimuth also has plans for future product releases and is partnering with several banks to develop an automated 1071 filing solution.
Azimuth revolutionizes the world of regulatory compliance by being the first and only company to codify every state and federal law on one platform, changing the culture of compliance by taking manual compliance work done on paper spreadsheets and automating it. Led by founder and CEO Rohin Tagra, Azimuth is the only company bold enough to offer VALIDATOR, a software that provides daily automated tests of an entire portfolio to determine compliance with all applicable laws and regulations.