RegTech Insight Blogs The latest content from across the platform
It’s Time to Embrace Risk Profiling for Regulatory Compliance
By Richard Pike, Managing Director, KYR Solutions, MyComplianceOffice. Regulations, frameworks, policies and controls define the day-to-day of Chief Compliance Officers (CCO) and their teams in what can best be described as a world of monitoring spaghetti. At the same time, the teams also need to ensure they are keeping senior executives and the front office…
Darlington Building Society Taps LexisNexis’ RiskNarrative to Combat Financial Crime
Darlington Building Society has selected LexisNexis Risk Solutions’ RiskNarrative platform to support its financial crime prevention strategy and improve its existing online member portal experience and customer onboarding journeys. The implementation is part of the UK building society’s ongoing digital transformation programme to digitalise its overall customer journey, including automated document verification and due diligence…
SteelEye Raises $21 Million in Series B Led by Ten Coves
Communications and trade surveillance platform SteelEye has raised $21 million in a Series B funding round led by Ten Coves Capital and including existing investors Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and a large family office. The round – which takes SteelEye’s total capital raised to $43 million – will be used to fund…
ESG Data Industry Welcomes Latest UK Disclosure Guidance
New ESG data recommendations by the UK’s accounting watchdog have been welcomed by leading data providers and users, who said the guidance provides a clear pathway to better sustainability disclosures. The Financial Reporting Council’s FRC Lab said its guidance on the production of ESG data was necessary because the sustainability data space was “less mature”…
Real-time and Always on: The Benefits and Challenges of Perpetual KYC
Monitoring risks to companies during the onboarding of clients can be time-consuming and costly. Nevertheless, it’s an essential effort, demanded by regulators and expected by stakeholders who want to ensure their investments are protected. By streamlining the process, the impacts of know-your-customer (KYC) monitoring on corporate bottom lines and productivity can be reduced. Technology has…
Txtsmarter Completes Series A, Names Green as New CEO
Messaging surveillance specialist Txtsmarter has completed its Series A funding in a round led by Carolina Financial Group, a North Carolina investment bank. The company also used the occasion to appoint a new CEO, Edward Green, who succeeds Nuri Otus, who has left the company. Txtsmarter will use the unspecified funds to expand its services…
A-Team Group-Partnered Publication Looks into the FinTech Crystal Ball
Charting the digitalisation of the financial industry is the beating heart of what we do at A-Team Group. And we are delighted and proud to have had the opportunity to take our messaging further, for the first time co-producing a special supplement on the Future of Finance in a major British national newspaper. The “Future…
Financial Crime is on the Rise – Banks Need Visibility, Predictability, and Control
By Peter Cregg, Product Director, ActiveOps. The Office for National Statistics revealed that in 2021, that there was a 43% increase in fraud and computer misuse crimes compared to 2019, indicating that economic crime – a broad term that covers a range of financial crimes – is on the rise. The pandemic altered the financial…
Regulators and Anti-ESG Forces Put Data Providers Under Spotlight
ESG data providers have every right to feel under attack. On one side are the regulators, who have made it clear they plan to keep companies like MSCI, Sustainalytics and SIX under their gaze amid concern that assets and funds are being greenwashed. More recently, however, anguished cries of foul play have come from conservative…
FCA Fines Citigroup Global Markets £12.5 Million for Market Abuse Failings
The UK’s Financial Conduct Authority (FCA) has issued Citigroup Global Markets with a fine of more than £12 million for failing to properly implement the EU’s Market Abuse Regulation (MAR) trade surveillance requirements. The failure meant that Citigroup Global Markets could not effectively monitor its trading activities for certain types of insider dealing and market…