The uncertainties surrounding Brexit are increasing the need for efficient compliance solutions and in yet another example of overseas firms benefiting from the current uncertainty, Swiss solutions provider Apiax on Tuesday confirmed the launch of a new London office to leverage UK opportunities in the Regtech space.
The Zurich-based RegTech startup, which offers financial institutions access to machine-readable rules on key regulatory topics, claims to have faith in the potential of the UK market, particularly with the return of regulatory complexity through Brexit.
“Apiax believes in the potential of the UK market, not only because it continues to hold an important share of the global wealth and asset management market, but also because London offers an interesting talent pool in regulation and technology,” said the firm in a statement.
As such, Apiax has also hired former Financial Conduct Authority (FCA) Regtech expert Alan Blanchard to head up business development for the UK market. Formerly with LexisNexis, Blanchard was instrumental in implementing its ‘digital first’ strategy within tax and compliance publishing. He was later responsible for digitising the FCA’s Handbook to facilitate RegTech, acting as Editorial Team Leader.
“Every successful RegTech startup needs a healthy mix of regulatory expertise, technological prowess and business development skills,” says Ralf Huber, Co-Founder of Apiax. “With Alan Blanchard, we found a UK representative who brings all of this to the table. And with the return of cross-border complexity, we think the timing for us to open an office in London could not be better.”
To kickstart its business activities in the UK, Apiax will in May join the third cohort of Allen & Overy’s Fuse Accelerator, a collaborative innovation space where tech companies work with lawyers, technology specialists and their clients can collaborate to explore, develop and test legal, regulatory and deal-related solutions.