Cumberland, USA-based technology company which specializes in Identity Security for financial institutions, Provision IAM raised an undisclosed amount in funding. The round took place on December 12, 2023. Curql, a Credit Union Service Organization driving fintech innovation for credit unions, led the financing for the company.
Purpose of financing for Provision IAM
With the latest financing Provision, IAM seeks to fund its growth and business operations. It also seeks to expand its reach. Provision IAM further strengthens Curql’s portfolio by delivering an essential back-office solution—identity access management.
What the company’s official has to add
Jonathan Hutcherson, CEO of Provision IAM, said, “The investment by Curql is a testament to the strategic value of Provision IAM’s unique solution to make credit unions more efficient and secure. Curql was in the unique position to understand and appreciate the identity access needs of the organizations that Provision serves. This partnership will propel Provision IAM forward and, more importantly, strengthen credit unions nationwide.”
In addition, Andrew Rowe, Chief Growth Officer, said, “We are thrilled to bring Curql on as an investor as Provision IAM continues to grow. This latest round of funding will allow us to pursue new opportunities as we seek to be the premier identity access management solution for community financial institutions.”
What the investors have to comment
Nick Evens, President and CEO of Curql Collective, further said, “We are proud to invest in Provision IAM, as we believe this is the right technology that will help credit unions operationally, plus materially strengthen their security perimeter by automating access governance. We look forward to supporting Provision IAM’s next growth phase as more forward-thinking credit unions embrace automating their Identity and Access Management system.”
Curql invested in Provision IAM and brought them into its ecosystem to address this vulnerability head-on. Provision IAM helps credit unions automate the access as well as audit process. It further reduces time spent on identity management while materially improving security by automatically enforcing access policies.
Currently, Curql’s robust ecosystem includes 113 credit union industry partners and represents institutions of varying sizes. On behalf of these progressive partners, Curql evaluates as well as invests in innovative fintech driving the digital transformation of credit unions.
About Provision IAM
It is a financial Institution, especially a credit unions, managing hundreds of systems with varying user access permissions requiring timely, accurate updates. The company accesses permissions to evolve constantly. Meanwhile, it also conducts Internal and external audits frequently to ensure compliance. As a CUSO, the Provision Identity Access Management platform automates common tasks to improve productivity, heighten security, and reduce audit preparation efforts.
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