BABB nabs $20M ICO, Ascent acquires $6M – Friday Deal Book for 03/09/2018

OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements from across the identity industry. Here’s a quick peek at what you need to know for the week ending March 9, 2018.

BABB’s biometrics, blockchain banking backed by $20M ICO

The company, short for Bank Account Based Blockchain, plans to open its first biometrics-backed regulated bank accounts before the end of the year. Its decentralized banking platform leverages blockchain, AI and biometrics for P2P financial services for anyone with a bank account. Financial services on the platform will be carried out via its BAX utility token. Individuals will be able to open a bank account through the BABB app, which uses face and voice recognition. [Read more]

Ascent raises $6M for growth, AI

The Chicago-based regtech startup offers a cloud-based platform to assist companies in regulated industries. Ascent completed a U.K. pilot program with ING Group and cOmmonwealth Bank of Australia, exploring AI use for regulatory compliance. The Series A round of funding was led by Alsop Louie Partners, while Randall Kroszner, Temerity Capital Partners, Steve Kaplan, and Doug Monieson. [Read more]