Banks’ Data Estates Still Not Ready to Leverage AI and Innovations: Report

Banks still have gaps in their data management capabilities, which are preventing them from fully utilising new technologies such as artificial intelligence, according to a report by Cornerstone Advisors.

The consultancy’s “Improving Your Financial Institution’s Data IQ” study stated that lenders scored “50 out of 100” for their ability to acquire, manage and use data. But it added that shortcomings like siloed tech stacks and manual processes, such as continued use of spreadsheets, were mitigating against then taking full advantage of innovations.

“The banking industry stands at a critical inflection point as artificial intelligence (AI) transforms core banking operations, customer experiences, and risk management frameworks,” the report stated. “Although AI promises unprecedented efficiency gains and competitive advantages, many banking institutions are struggling to bridge the gap between their current data infrastructure and the sophisticated requirements of modern AI systems.”

Diginex Buys Matter DK to Expand ESG Data, Reporting Offering

Investor sustainability data and analytics provider Matter DK has been ESG reporting and supply-chain due diligence services and RegTech provider Diginex.

London-based Diginex said the acquisition of the Danish technology company, with a transaction value of US$13 million, would bolster its ESG service offerings worldwide by incorporating Matter DK’s advanced ESG data analytics, benchmarking and reporting capabilities.

Archax Secures Strategic Investment from Stellar Development Foundation to Advance RWA Tokenisation

Archax, the UK-regulated digital asset exchange, broker and custodian, has formed a strategic partnership with the Stellar Development Foundation (SDF), which includes a direct investment from SDF. The collaboration aims to strengthen Archax’s mission of bridging traditional finance with blockchain, leveraging Stellar’s layer-one network to expand tokenisation opportunities.

Archax has already integrated Stellar into its tokenisation engine and platform, recently completing projects such as tokenising an Aberdeen Money Market Fund. Through its established network of financial institutions, Archax plans to introduce more tokenised real-world assets (RWAs) onto the Stellar blockchain.

The partnership comes amid rapid growth in the tokenisation market, which has risen from $15.2 billion in December 2024 to over $24 billion by June 2025. Archax is also working with Lloyds Bank and Aberdeen Asset Management to enable tokenised money-market funds to be used as collateral for FX trades through its Nest collateral transfer network.

Data and AI Key Investment Targets for Asset Managers, Survey Finds

A survey of asset managers by FE fundinfo has found that more than half of respondents are prioritising investment in data governance and integration to unlock operational efficiency at scale. The report noted also that more than two-thirds of the 100 senior leaders interviewed said their firms are actively deploying artificial intelligence across their operations.

AI-led Privates Data Startup Alkymi Raises More Funding

Alkymi, an AI-powered data specialist for private investors, has raised yet more capital from a variety of investors including Cornerstone Investment Capital and Canaan Partners, SimCorp and Northwestern Mutual Future Ventures. The startup, which had raised US$35 million in previous funding rounds, also said that Bob Greifeld, Co-Founder at Cornerstone Investment Capital and former Chairman and CEO of Nasdaq, has joined Alkymi’s Board of Directors.

Droit Expands Cloud Data Privacy Safeguards with ISO 27018 Certification

Droit, a RegTech firm best known for applying computational law to complex financial regulation, has added another layer of assurance to its cloud services. The company has achieved ISO/IEC 27018:2019 certification, an international benchmark for protecting personally identifiable information (PII) in public cloud environments.

This new certification sits alongside Droit’s existing ISO/IEC 27001:2022 and ISO/IEC 27017:2015 credentials, both of which were recently renewed. Together, the trio provides a framework that strengthens security and privacy practices for global financial institutions moving more of their infrastructure to the cloud.

Why ISO 27018 Matters

Data privacy is a regulatory priority across markets. ISO/IEC 27018 was developed specifically to help cloud service providers demonstrate that they manage personal data responsibly and in line with evolving global rules. Importantly, the standard aligns with the EU’s General Data Protection Regulation (GDPR), covering how organizations process and safeguard personal data.

Kaveh Moravej, Head of Information Security at Droit, said, “ISO 27018 is the world’s best-known privacy standard for the cloud and is a natural evolution from our ISO/IEC 27001 and ISO/IEC 27017 certifications. To successfully achieve ISO 27018, we augmented our existing security and privacy programs. This included working across the business on new protocols and raising awareness to ensure all the requirements of the standard were met. We are now able to more easily address existing and future, ever-changing global data privacy regulations and give our clients the confidence that we are fully aligned with their data privacy needs.”

For financial institutions, independent certifications are a form of assurance. They help firms demonstrate compliance while relying on vendors like Droit for cloud services. The external audit process confirmed that Droit’s controls meet internationally recognized benchmarks.

Peter Bals, Chief Technology Officer at Droit, said, “Droit’s ISO certifications underscore our commitment to the safeguarding of both cloud security and data privacy to build trust with the global financial institutions we serve. Achieving ISO 27018 provides independent validation of our focus on security and cements our position as a major cloud services provider. These best practice controls are integral to supporting clients on their cloud journeys.”

Broader Context

Droit’s step reflects a broader industry trend: as financial services continue to migrate sensitive processes into public cloud environments, clients expect not only robust security but also compliance with a patchwork of privacy regulations worldwide. Independent standards like ISO 27018 offer a common baseline, reducing complexity for firms operating across multiple jurisdictions.

By layering ISO 27018 onto its existing security certifications, Droit signals that its cloud services are designed with both resilience and regulatory alignment in mind – a factor that increasingly influences vendor selection in regulated financial markets.

Droit was audited by an external, independent, and accredited team as part of the ISO certification process.

CITGO Petroleum Implements Behavox Platform for Regulatory Archiving and Communications Surveillance

Behavox, the AI-powered communications surveillance provider, has announced that CITGO Petroleum Corporation has gone live with its platform for Regulatory Archiving and Communications Surveillance. CITGO, a major U.S.-based oil refiner, adopted the solution to strengthen its compliance programme and address evolving regulatory risks.

With the new platform, CITGO gains access to AI-driven risk policies, high-quality alerts, and advanced testing tools aimed at improving both protection and operational efficiency. Behavox deployed a dedicated implementation team to ensure rapid onboarding while minimising the workload for CITGO’s staff.

The launch highlights Behavox’s growing presence in the energy and commodities sector, where more organisations are seeking intelligent, scalable solutions to meet complex compliance requirements and operational challenges.

ISS Stoxx Acquires Geospatial Climate, Nature Risk Analysis Firm Sust Global

Geospatial risk modelling and analytics provider Sust Global has been acquired by ISS Stoxx to be incorporated into its Sustainability Business.

Sust’s geospatial artificial intelligence engine analyses and seeks to find climate and nature patterns within geographical regions.

“This acquisition helps to underline our commitment to helping you better manage sustainability-related risks and uncover opportunities,” said Till Jung, Global Head of Sustainability Business.

S&P Global’s iLevel Private Markets Tool Updated with Document Search

S&P Global Market Intelligence has updated its private asset portfolio management capabilities with the launch of iLevel Document Search, an artificial intelligence-powered tool that can extract insights from a variety of unstructured data sources.

The latest augmentation of the iLevel suite has includes natural language querying, annotations for traceability and permissions-based search results for confidentiality.

“We’re moving from an era of portfolio monitoring to one of portfolio intelligence,” said Christopher Sparenberg, Head of iLEVEL, S&P Global Market Intelligence. “With deal flow at multi-year lows and exit windows tightening, the firms that will thrive are those that can unlock the ‘unknown unknowns’ in their existing portfolios to create differentiated value. iLEVEL Document Search enables investment teams to discover new opportunities and identify risks to make decisions with conviction.”

FIX Publishes MMT 5.0 to Support Readiness for the European Consolidated Tape

The FIX Trading Community has released Market Model Typology (MMT) 5.0 to help firms prepare for the pending European consolidated tape. MMT is the independent industry data standard for classifying trades across European capital markets, enabling consistent interpretation of published transactions and supporting clean, transparent market data. FIX Executive Director Jim Kaye said FIX’s independent, industry-run governance ensures MMT reflects the needs of all market participants.

Developed in 2012 by the Federation of European Securities Exchanges and handed to FIX in 2013, MMT is now used by all major European trading infrastructure venues and the majority of market participants. FIX’s MMT Steering Committee has worked with European regulators since 2013 to keep the standard aligned with evolving regulations and user requirements, underpinning market efficiency and transparency.

MMT 5.0 addresses the revised post-trade transparency requirements of MiFIR RTS 1 and RTS 2 and introduces additional voluntary flags. These optional fields are designed to further enhance transparency for users seeking deeper insight into European capital markets.