Delega is a treasury management application that digitizes signatory management across multiple banking partners. The platform provides a secure, bank-agnostic single source of truth for authorized signatories and supporting documentation. This streamlines compliance and reduces operational delays associated with manual mandate updates for corporates and banks.
Funding
$320K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Managing signatory rights across multiple banks is traditionally a manual, paper-based process, leading to inefficiencies, delays, and increased operational risk for both corporations and banks. Discrepancies between corporate records and bank records often result in audit challenges and compliance issues.
Solution
Delega provides a cloud-based treasury management system that digitizes and centralizes the management of signatory rights across multiple financial institutions. The platform creates a bank-agnostic, single source of truth for authorized signatories, enabling corporations to easily create, modify, and revoke signatory permissions. Banks gain real-time access to accurate signatory records, streamlining their internal processes and improving customer experience. Delega's intelligent workflow engine guides users through each step, ensuring compliance and reducing the risk of errors. The system also acts as a secure repository for supporting documentation, eliminating the need to repeatedly provide the same documents to different banks.
Target Audience
Delega targets corporate treasurers managing relationships with multiple banks, as well as banks seeking to improve efficiency and customer experience in signatory management.
Features
- Centralized, bank-agnostic platform for managing authorized signatories
- Secure, cloud-based repository for storing and sharing supporting documentation
- Intelligent workflow engine to guide users through signatory management processes
- Real-time collaboration and communication between corporations and banks
- Automated notifications and status tracking for change requests
- Comprehensive reporting capabilities for audit and compliance purposes
- Integration with DocuSign for electronic signatures
- Dual control principle to ensure bank control of approval process