Broadridge Acquires to Extend Regulatory Reporting Offer

Broadridge Financial Solutions has extended its regulatory reporting offer for asset managers with the acquisition of certain private fund regulatory reporting capabilities from PivotData, a data warehouse and compliance reporting solutions platform for the investment community, and its partner Sol Hedge. PivotData and Sol Hedge’s proprietary data transformation, normalisation and load processes, as well as their in-house compliance experience, are expected to provide asset management clients with a reliable, cost-effective and timely regulatory reporting solution.

CubeLogic Adds CubeWatch Sentiment Analysis

CubeLogic has added CubeWatch sentiment analysis to its portfolio of business intelligence driven risk management, workflow and reporting solutions. CubeWatch monitors social media and other data sources, and automatically organises, filters, translates, scores and weights data collected to provide risk management practitioners with insight into market, geographical and climate related events in real time. The solution is offered as a standalone product or integrated with CubeLogic’s RiskCubed platform.

NICE Actimize Extends Financial Crime Capability

NICE Actimize has established a financial crime consulting and advisory practice and introduced a target operating model designed to pinpoint client objectives, create a technology roadmap and establish an enterprise operational plan.

The consulting practice is working with clients to evaluate the people, process and technology aspects of financial crime programmes, identify inefficiencies and provide guidance on reducing costs and improving effectiveness of existing programmes.

The practice and methodology are part of NICE Actimize’s vision of autonomous financial crime management that could unify and mitigate risk through targeted use of big data, advanced analytics, artificial intelligence and robotic process automation.

RegTech Market Worth $12.3bn by 2023, Says New Report

A new report from MarketsandMarkets suggests that the global regtech market could grow from USD 4.3 billion in 2018 to USD 12.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.5%. Key drivers include the increased cost of compliance, adoption of regulatory sandbox approach, and low entry barriers for Software-as-a-Service (SaaS)-based offerings. The large enterprises segment is expected to hold the largest market share, as most publicly traded companies are compelled to adopt regulatory programs. North America is expected to dominate in geographical terms.

BIG Offers Blockchain Course for Crypto Investigations

BIG Blockchain Intelligence Group (BIG), a Vancouver-based developer and provider of blockchain and cryptocurrency search, risk-scoring and data analytics tools and investigation services, claims to have launched the “world’s first” investigator-developed, eight-hour online certification course for cryptocurrency investigations. Originally created for US law enforcement officials, the course has been adapted for use by finance and compliance professionals and consists of five fee-based modules including a detailed forensic review of cryptocurrency transactions and covering a variety of crypto crimes. Completion earns the credential of “Certified Cryptocurrency Investigator” from BIG.

New Hotscan360 Solution From Canada’s CGI

Anti-financial crime solutions provider CGI has launched CGI HotScan360, an enhanced version of its existing HotScan solution. CGI HotScan360 provides integrated, intelligent and real time anti-money laundering, customer due diligence and fraud detection capabilities. The platform uses a real-time risk engine to scan and score thousands of transactions per second utilising machine learning, advanced analytics and automation. “CGI HotScan360 is a modular solution that allows banks to integrate certain modules with other systems or omit them, as necessary,” says CGI. “The solution also complies with the latest and upcoming regulations such as PSD2, GDPR and SEPA instant payment requirements.”

Asian Development Bank Launches AML Scorecard

The Asian Development Bank (ADB) has launched a new scorecard designed to enhance regulatory efficacy to boost access to trade financing while enhancing efforts to combat financial crimes. The ADB Scorecard is informed by and complements the work of the Financial Action Task Force (FATF) and the Financial Stability Board (FSB). It is comprised of “Seven Elements of Effective Regulation” including consistency, risk alignment, co-design, communication, technology/data, enforcement and quality control. “The Scorecard is not an end in itself, but the beginning of a process. The next step is a workshop with stakeholders to address issues,” says the ADB.

Fintrail Solutions Launches Financial Crime Forum

US-based financial crime consultancy Fintrail Solutions has launched the US chapter of the FinTech FinCrime Exchange (FFE), a free members forum already operating in Europe which brings together a network of fintech firms to collaborate on the best practices in financial crime risk management and create a globally connected community in the fight against financial crime.

“Currently, there is no platform in the United States where financial technology and regulatory technology firms can share information and learn from each other,” said Julie Myers Wood, Fintrail Solutions Co-Founder. “This new chapter of the FFE changes that.”

Compliance.ai Launches New Product

RegTech specialist Compliance.ai has launched a new Workflow Automation solution as part of its financial regulatory change management platform. The software-as-a-service platform is designed to clients to cost-effectively manage the growing volume and velocity of regulatory changes in near real-time without increasing headcount.

“Chief Compliance Officers are tasked with managing a massive increase in the volume and complexity of regulatory changes – and the consequences for not complying include huge financial fines and reputational damage – yet banks often don’t have the resources or technology to efficiently keep track of and comply with the regs they need to,” said CEO Kayvan Alikhani.

Dash Financial Technologies Acquires eRoom Securities

Capital markets technology and execution provider Dash Financial Technologies has signed an agreement to acquire Chicago-based eRoom Securities.

The eRoom platform, which provides multi-asset trading technology, agency execution, risk management, reporting and clearing services to professional traders, institutions and hedge funds, will be rebranded as Dash Prime.

As the Dash Prime project gets underway, eRoom leadership will continue to be headed by Collin Carrico and Ben Schwartz.

“Joining forces with Dash puts us at the leading edge of technology and enables us to broaden our prime services suite to create more opportunities for our current and future clients,” says Carrico.

The transaction is expected to close in Q1 2019, contingent upon standard closing conditions including regulatory approvals.