KRM22 Adds SMCR Applications to Global Platform

Software investment firm KRM22 has added additional SMCR applications to its Global Risk Platform, including a partnership agreement with London-based ‘digital intelligence’ specialist Neotas to distribute and support its enhanced due diligence application. The partnership follows recent agreements to distribute Trailight’s Individual Accountability Regime application which addresses the governance requirements of SMCR, and Entrima’s SMCR Online Training. Alongside its product partnerships, KRM22 is also launching the SMCR Navigator within its Enterprise Risk Cockpit solution to assist firms in addressing their SMCR risk and compliance positions.

FactSet Launches KYC Application for Customer Due Diligence

FactSet, a global provider of integrated financial information and analytical applications, has announced the release of FactSet KYC, a cloud-based SaaS application that allows clients to streamline their KYC due diligence. The new RegTech app combines KYC robotic process automation with FactSet content and public registries, to improve the efficiency and consistency of the customer due diligence process. Additional features include the ability to apply risk indicators, schedule automated customer reviews, and generate a complete, exportable audit trail.

EBA Warns of £135bn Bank Shortfall for Basel IV

The European Banking Authority (EBA) has warned that the EU’s biggest banks could face a funding gap of up to £135bn in order to comply with Basel IV, an updated set of post-crisis regulations expected to be phased in from 2022 and be in full force by 2027. The EBA estimates that banks could face an average 2.8% decline in their core capital in order to meet the new requirements, which include a 24.4% increase in minimum capital levels and are designed to restrict the use of internal models to calculate risk.

Dion Global Releases Corporate Actions Solution

Dion Global Solutions has released a corporate actions solution. Already live with two pilot customers, the solution is designed to make corporate actions processing cost effective for the smallest industry participants and scalable for the largest. It aims to decrease manual processing by increasing automation, and reduce risk by ensuring no event is missed or acted on erroneously. Other functionality includes management of notifications from a single source or multiple sources, diarisation of events and related tasks, digital dissemination of event information and tasks to clients and internal parties, and MiFID II reporting of corporate action transactions.

ClauseMatch Parters with Singapore’s Ingenia

Following on from its recent expansion into Singapore, UK-based regtech firm ClauseMatch has announced its first partnership in the region, with independent consultancy Ingenia. The alliance aims to provide ‘Compliance-as-a-Service’ for small and medium-sized financial institutions in Singapore, based on Ingenia’s existing service of developing and maintaining compliance networks for financial institutions who outsource their compliance functions. The firm will adopt the Clausematch platform to create and maintain policies and procedures for their clients. The news follows a $2.5m loan package for Clausematch provided by Silicon Valley Bank to support the company’s continued growth in Europe and Asia.

Coinform to Investigate Ripple’s AML Compliance

US regtech start-up Coinfirm has signed an agreement with San Francisco-based Ripple, the company behind cryptocurrency XRP, to investigate the crypto’s compliance with AML regulations. The move comes in advance of a planned crackdown by US authorities on cryptocurrency exchanges, following an announcement by the Financial Action Task Force report in June of tighter regulation to restrict the role of digital currencies in global money laundering. The new measures will require that crypto assets exchanges comply with AML provisions in the same way as traditional financial institutions.

Datactics Secures £1.2m Seed Funding

Belfast software solutions provider Datactics has raised £1.2m from the Bank of Ireland Kernel Capital Growth Fund (NI) in its second round of funding, completing a package commenced in 2018.

“Seldom does a day go by where the possibilities of machine learning aren’t being discussed, and everything we are hearing from industry agrees that any successful use of this technology will rely on fast access to perfected data,” said CEO Stuart Harvey. “This has been our sweet spot since we were founded, and in which we’ve been investing continuously throughout the six years I have been involved at Datactics.”

Comyno and REGIS-TR Join Forces

German tech consultancy Comyno has partnered with Luxembourg trade repository REGIS-TR to provide an integrated SFTR solution with straight-through processing for mutual clients. The alliance will connect Comyno’s C-ONE SFTR solution to REGIS-TR’s test environment, offering clients early validation and testing in advance of implementation.

Calypso Teams Up With IHS Markit on SFTR

San Francisco-based software application provider Calypso Technology has partnered with IHS Markit to offer seamless connectivity for SFTR reporting, from the booking of the trade through to the trade repository, providing a comprehensive end-to-end view of the reporting. Common clients will benefit from a single interface to the trade repositories of their choice, with data validation, enrichment and pre-reconciliation to ISO 20022 format performed en-route.

IHS Markit Partners With Cappitech

IHS Markit has partnered with regulatory reporting and intelligence solutions provider Cappitech to deliver its SFTR solution via Cappitech’s reporting platform Capptivate. The alliance aims to automate and streamline transaction reporting to trade repositories for all securities finance instruments. It will also support out-of-the-box MiFID II reporting for additional instruments that will be in scope when SFTR goes live.