The latest developments in technology products and investments in the North American market.

Sigma Ratings, a New York-based risk intelligence platform that helps companies stay compliant with regulations, has drawn investment from ratings agency big-hitter Fitch Group. This adds to investments from FinTech Collective, Contour Ventures, and Barclays.

The investment was made through Fitch Ventures, the equity investment arm of Fitch Group.

As money laundering scandals and other problems put know-your clients and AML controls under the spotlight, Sigma said its tech enables firms to screen and check risks rapidly, slashing tasks from hours to seconds.

“Non-financial risks such as governance and financial crime are becoming more relevant to Fitch's bank credit ratings,” Shea Wallon, managing director, Fitch Ventures, said. "An increased focus from market participants on the risks related to financial crime and governance underpins Fitch's decision to invest in Sigma, as well as to pursue joint work and research between Fitch Ratings and Sigma.”

The firm’s services are used by major banks, asset managers, insurers and money service providers.