Telstra Ventures has invested in Singapore-based voice tech startup enepath in a bid to build out its fintech portfolio.
The company is an internal communications provider which targets trading rooms. It uses voice to communicate trading positions, which seems a little dated considering everything is monitored electronically in financial institutions these days.
Matthew Lempriere, Telstra’s global head of financial services market segment, said the telco is expanding its fintech portfolio at pace and will continue to build it out over the coming months.
Telstra has also struck a global distribution agreement with enepath, which means the companies will offer several deployment options, including on-premise and hosted, for customers globally.
Lempriere said the enepath investment will accelerate the telco’s financial product development, expand its capabilities into new global markets and also capitalise on new opportunities outside the financial services industry.
The partnership will involve meshing enepath’s trading platform with Telstra’s network and cloud data solutions.
“In today’s highly competitive capital marketplace, financial services organisations face many challenges, including the need to comply with increasing regulatory requirements, together with greater volatility and increased pressure on margins,” enepath CEO Stephen Phillips said.
“As a result, demand for our IP technology among global traders is increasing and this investment will help us scale quickly while accelerating some exciting product developments, including new desktop solutions and applications.”