Harbinger Technology Solutions Receives $100K Investment

Harbinger Technology Solutions, LLC (HTS), a Norfolk, Va.-based provider of a web-based platform that helps financial institutions comply with increasingly complex reporting requirements promulgated by the Financial Accounting Standards Board (FASB) and its international counterparts, has received a $100k investment from the Center for Innovative Technology (CIT).

The investment was made through CIT GAP Funds.

The company intends to use the capital to continue to build out its technology platform.

Led by CEO Michael Umscheid, HTS provides ARCSys, an online platform that features an Allowance for Credit Losses (ACL) module designed to allow clients to upload data from their core banking systems, process the relevant data to produce required reporting and disclosures, perform analysis and adjustments, and review historical trends.



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