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DTCC Partners Xceptor to Streamline SFTR Reporting

DTCC has partnered Xceptor to support regulatory reporting under Securities Financing Transactions Regulation (SFTR). SFTR reporting obligations are expected to come into play in late 2019 or early 2020. The partnership allows DTCC clients to use Xceptor’s artificial intelligence (AI) automation software within the DTCC global trade repository to transform data in support of compliance…

AML Compliance Costs US Firms $25.3 billion a Year

US institutions are paying more than $25 billion a year to comply with financial crime requirements. A survey by LexisNexis Risk Solutions, based on responses from over 150 decision-makers at banks, investment, asset management and insurance firms, suggests smaller firms are hit hardest, relative to their bottom lines, with the cost of AML compliance reaching…

MUFG Europe Selects Wolters Kluwer for Regulatory Reporting

MUFG Europe, the European subsidiary of Japan’s Mitsubishi UFJ Group, has selected Wolters Kluwer’s OneSumX software to manage a number of regulatory and risk reporting obligations, including AnaCredit and Interest Rate Risk in The Banking Book (IRRBB), for its Dutch and German business lines. The bank is an existing user of OneSumX, which uses a…

A-Team Group Names Winners of 2018 Data Management Awards

A-Team Group has announced the winners of its 2018 Data Management Awards. The annual awards, now in their sixth year, are designed to recognise leading providers of data management solutions, services and consultancy to capital markets participants. See the full list of winners below. The awards were hosted by Sarah Underwood, Editor of A-Team’s Data…

Kaizen Extends ReportShield Service to MiFIR Trade Reporting

Quality assurance provider Kaizen Reporting has branched out to include Markets in Financial Instruments Regulation (MiFIR) reporting in its flagship ReportShield service, which will be led by new hire Chris Machin, the brains behind the London Stock Exchange’s (LSE’s) MiFID II transparency service, TRADEcho. Kaizen managing director Ian Rennie notes: “With both buy-side and sell-side…

Fighting Financial Crime: A Path for Progress

The recent A-Team Group RegTech Summit in New York on November 15, 2018 featured a wide range of challenging and sometimes controversial discussions, but none were more pertinent in today’s environment than the in-depth and insight panel discussing the best methods of fighting financial crime and improving technology techniques for anti-money laundering (AML) and Know…

Arachnys Adds Cloud-Native Version of Customer Risk Intelligence Platform

Arachnys, a provider of customer risk intelligence solutions for client onboarding, Know Your Customer (KYC), customer due diligence (CDD), enhanced due diligence (EDD), and Anti-Money Laundering (AML), has introduced a cloud-native version of its platform. The capabilities of the platform address changing market dynamics that are leading financial institutions to focus on five initiatives: real-time…

Derivatives Service Bureau Names Members of Expanded Product Committee

The Derivatives Service Bureau (DSB), which issues ISINs for OTC derivatives, has announced the members that will join an expanded product committee from January 8, 2019. It has also named five trade associations that will join as non-voting members, and transitioned the role of chair from the DSB to two external co-chairs from industry with…

Main Capital Buys Stake in German RegTech Start-up cleversoft

Main Capital Partners, an investment manager focused solely on the software industry in Benelux, Germany and Scandinavia, has acquired a stake in Munich-based regtech software-as-a-service specialist cleversoft for an undisclosed sum. Founded in 2004, cleversoft provides cloud-based regulatory reporting services for regulatory regimes including PRIIPs, MiFID II, PIB, FIDLEG and AML, underpinned by lifecycle management…

German RegTech Start-up Alyne Raises €3 million in Seed Funding

Munich-based regtech start-up Alyne has raised €3 million in Series A financing in a round led by Alstin Capital and Hannover Digital Investments. The investment brings Alyne’s total funding to €4.2 million since launching its next generation regtech solution in early 2016. Alyne’s software-as-a-service product, the Governance Risk Compliance (GRC) platform, provides a curated and…