“Trade screening compliance has become both one of the most important and most complex processes. We selected Bloomberg’s data solution given their comprehensive coverage of both corporate and security-level sanctions data so we can react dynamically and compliantly”,

said Zoárd Gázmár, director of Compliance Directorate, at OTP Bank.

Through the adoption of Bloomberg’s sanctions data solution via Data License, OTP Bank will have access to legal entities and financial instruments identified as being potentially impacted by sanctions.

“Identifying sanctioned entities and securities and knowing the type of sanction is a complex process, which leaves little room for error. Bloomberg’s sanctions data solution gives OTP Bank access to data and information to support their compliance decisions throughout their pre-trade and post-trade workflow”,

said Brad Foster, Global Head of Enterprise Data Content at Bloomberg.

Bloomberg’s solution provides high-quality data that is detailed, verified, and can be integrated into OTP Bank’s existing workflows streamlining pre-trade and post-trade sanctions compliance.

Bloomberg’s sanctions data solution monitors sanctions across 10 global jurisdictions — the United States, United Kingdom, European Union, United Nations, Canada, Switzerland, Japan, Australia, Hong Kong and Singapore.

The solution uses Bloomberg’s corporate hierarchy database and a sophisticated rules engine to help identify entities that are potentially explicitly and implicitly sanctioned, as well as instruments issued by such entities.

Ontotext Receives Growth Funding to Expand in the US, Strengthen its Leadership in the Knowledge Graph Market and Develop Industry-specific Offerings

The Integral-led international investment consortium also includes PortfoLion Capital Partners, the venture capital and private equity arm of OTP Bank, and Carpathian Partners, a specialized technology-focused investment platform based in London. The Consortium’s investment in excess of €30 million will be structured as a combination of a capital increase and a secondary share purchase.

Evtim Chesnovski, the partner leading the transaction in Integral Venture Partners, said:

“We have been working with the company and our advisers for months to develop a strong conviction about Ontotext’s market and business model. Together with our co-investors from Portfolion and Carpathian we are looking to support the acceleration of Ontotext’s international expansion and the augmentation of its products. “

Supported by new capital, Ontotext will accelerate its international expansion and go-to-market operations, focusing on the US market.  The company will invest in further development of their vertical product stack – end-to-end solutions for specific industries starting with Life Sciences and Financial Services. Last but not least, Ontotext will further strengthen its position as global leader in knowledge graph technology.

Atanas Kiryakov, CEO of Ontotext, commented:

“I am impressed by Integral’s dedication and the comprehensive approach to understand our business and analyze its potential. This investment will help us turn our excellent technology and market recognition into a great business!”

The transaction is not subject to any regulatory approvals and is expected to close by August 2022. The terms of the investment were not disclosed.

Ontotext is a global leader in enterprise knowledge graph technology and semantic database engines. Ontotext employs big knowledge graphs to enable unified data access and cognitive analytics via text mining and integration of data across multiple sources. Ontotext GraphDB engine and Ontotext Platform power business-critical systems in the biggest financial services, publishing, healthcare, pharma, manufacturing companies and public sectors.

Integral Venture Partners manages institutional private equity and growth capital and is focused on investments in the countries of central and south-eastern Europe. Integral’s fund is backed by leading international institutional investors, including the EIF, the EBRD and the IFC. Integral covers its pan-regional target market out of hubs in London, Budapest and Belgrade.