About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

KRM22 Partners with deltaconX, Raises £1m Through Share Issuance

Subscribe to our newsletter

Risk management specialist KRM22 has partnered with deltaconX, a provider of regulatory reporting services, on a new Software-as-a-Service (SaaS) solution to cover regulatory reporting requirements including EMIR, FinfraG, SFTR, MiFIR and MiFID II, and REMIT. Available through KRM22’s Global Risk Platform, the application simplifies the reporting process through automation and dynamic error handling,

“With a rise in the number of enforcement actions and a plethora of progressively complex regimes to comply with, regulatory reporting is an increasingly important area of focus for our customers,” says Saeed Patel, Director of Product Strategy at KRM22.This new partnership with deltaconX is complementary to the suite of regulatory risk applications which is currently available through our Global Risk Platform and will allow us to help firms reduce the complexity of complying with multiple regulatory reporting regimes.”

KRM22 on November 7 also confirmed capital-raising of around £1 million through the issuance of just under 1.9 million shares (worth 10 pence each in the company) at a price of 52 pence per share.

Last week KRM22 announced a further three new contracts, taking its annual recurring revenue to £4.3 million in 2019 and up to an expected £4.4 million in 2020 – representing an 18% increase so far this year. The new clients include an investment firm, which has signed up to use KRM22’s Irisium market surveillance applications; along with a Singapore broker who has taken on its Risk Monitor solution, and an Australian firm which has bought into its Enterprise Risk Cockpit software.

However, the firm has suggested that it may reduce the scope of some of its activities in 2020, in order to achieve a cost reduction of around £1 million. The move is not expected to impact 2020 revenue.

The firm currently operates 15 applications, addressing enterprise, regulatory, market and operations risk.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Best practice approaches to trade surveillance for market abuse

Date: 5 March 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Breaches of market abuse regulation can lead to reputational damage, eye-watering fines and, ultimately, custodial sentences of up to 10 years. Internally, market abuse triggers scrutiny of traders and trading behaviours; externally it can undermine confidence in markets and...

BLOG

Ascent Technologies Adds Horizon Scanning with Acquisition of Waymark

Ascent Technologies, a Chicago-based vendor of AI-enabled compliance automation solutions, has acquired Waymark, a UK-based provider of horizon scanning and compliance management workflow solutions. The move follows Ascent’s recent acquisition by Edgewater Equity Partners. Waymark’s horizon scanning tools augment Ascent’s obligations management technology, with the combined company now able to offer regulatory coverage of the...

EVENT

RegTech Summit New York

Now in its 8th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...