Finantix Partners with Capita Consulting on Digital Solutions

The Finantix Product Suite is a modular, API-driven suite of products that can be integrated with existing IT systems. Capita Consulting will become a Finantix certified strategic implementation partner in the UK. In this role Capita Consulting will help clients in the private banking and wealth management sectors design and launch a Finantix platform tailored to their needs. As well as helping Finantix clients select the right mix of capabilities for their needs, Capita Consulting will also advise Finantix on product enhancements across the suite of solutions offered to the UK market.

Shield Joins Microsoft’s One Commercial Partner Program

Specialist RegTech provider Shield has been selected by Microsoft to join its One Commercial Partner (OCP) program, which provides best-of-breed Cloud-based solutions. The partnership means the Shield platform is now available on Microsoft’s App Source and Azure Marketplace.

“With increased remote working and ongoing disruption to many business operations because of the COVID-19 pandemic restrictions, many firms are looking at their options for maintaining regulatory compliance and surveillance during these challenging times,” says Eran Noam, Global VP of Sales and Marketing at Shield. “As an early supporter of the Microsoft platform in the RegTech sphere, Shield is perfectly placed to help regulated firms meet these needs, as they switch to Microsoft Teams as a key part of their journey towards cloud services.”

ONE Appointed by Maitland to Provide Compliance Technology

ONE regulatory has been appointed by global advisory and family offices firm Maitland to implement R-ONE, a cloud-based compliance technology and workflow tool. ONE group provides fund management solutions including third-party Management Company, Regulatory & Compliance Advisory, Corporate Secretary and Governance Technology solutions to asset, wealth and fund managers through offices in Luxembourg, London and Zurich.

MirrorWeb Joins Microsoft Scale-up Programme

UK-based web archiving and monitoring solutions provider MirrorWeb has been selected to join the Microsoft ScaleUp programme, an initiative that gives a small number of high-growth companies access to Microsoft’s sales, marketing and technical support. To be successful, companies must be start-ups or growth enterprises at the forefront of emerging technologies, and with the potential to tap into newer markets. Fewer than 2% of applications to the program currently succeed.MirrorWeb helps marketing and compliance professionals meet regulatory requirements by capturing immutable records of their digital content and archiving their web and social media channels. Clients include Liontrust Asset Management, Zurich Insurance Group, Tesco Bank, Bank of England and the Treasury.

Wolters Kluwer Updates OneSumX, Signs ING in China

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has released an update for its OneSumX for Regulatory Reporting solution to allow clients to meet the Second-Generation People’s Bank of China Enterprise Credit Reference Submission, an update to the country’s credit reference system first launched in January 2020, which makes a broad range of changes to reporting and information collection procedures for personal and enterprise credit data. ING’s China business has chosen OneSumX for Regulatory Reporting to meet the new requirements.

Wolters Kluwer Updates OneSumX, Signs ING in China

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has released an update for its OneSumX for Regulatory Reporting solution to allow clients to meet the Second-Generation People’s Bank of China Enterprise Credit Reference Submission, an update to the country’s credit reference system first launched in January 2020, which makes a broad range of changes to reporting and information collection procedures for personal and enterprise credit data. ING’s China business has chosen OneSumX for Regulatory Reporting to meet the new requirements.

Kyckr to Raise A$10m Through Share Placement

Australian digital verification specialist Kyckr has confirmed plans to raise a further A$10 million (before costs) via a new share placement to institutional and sophisticated investors, woith new shares issued at $0.08 per share. Kyckr will also conduct a Share Purchase Plan (SPP) for an additional A$2m, to allow eligible existing shareholders an opportunity to participate in the raising at the same price. The funds will be used to expand international sales growth. Kyckr recently launched its latest ‘Company Watch’ product, an automated online monitoring service for enterprises, and announced expanded contracts with Commerzbank and Citigroup.

Singapore Introduces ‘Fairness Metrics’ for AI Adoption

The Monetary Authority of Singapore (MAS) announced today that the first phase of its Veritas initiative – a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA) – will commence with the development of fairness metrics in credit risk scoring and customer marketing. The 25-member consortium will publish a white paper documenting the metrics and release an open-source code to enable financial institutions to adopt the fairness metrics in these two areas by the end of 2020.

Covid-19 is Impacting Banks’ Operational Resilience, Warns EBA

The European Banking Authority (EBA) has issued a preliminary assessment of the impact of COVID-19 on the EU banking sector, warning that operational resilience is now under pressure. “Following the outbreak of the pandemic, banks have activated their contingency plans, which have allowed them to keep their core functions broadly unaffected. However, the handling of large volumes of applications for debt moratoria and guaranteed loans, and the insufficient preparation of some offshore units to work remotely added some pressure on their operational capacities,” says the regulator.

Push and Baker Technology Partner on Bespoke Real-Time Trading Systems

California’s Push Technology, which provides real-time data streaming and messaging solutions, has partnered with London-based Baker Technology, a specialist user interface software engineering firm that builds bespoke trading systems for global investment banks and exchanges. Through the partnership, Baker will use Push’s Diffusion Real-Time API Management platform to provide a single, secure, unified gateway for distributing and synchronizing shared data models out to their on-premise and cloud-based trading systems built in HTML5. Financial service firms will be able to outsource UI development to Baker – while using Diffusion, Baker can reduce the development time it spends writing the network stack to connect their user interfaces to a variety of data services.