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Novatus Gets £4 Million Investment from Maven Capital Partners
Novatus Advisory, whose RegTech division provides tools for regulatory reporting, has received a £4 million investment from Maven Capital Partners, a venture capital company. The company plans to use the funds to expand its team of technical advisors and boost its sales and marketing resources. London-based Novatus provides specialised advice to financial services firms to…
ID-Pal Secures €7 Million in Series A funding Round
Dublin-based identity verification provider ID-Pal has raised €7 million (£6 million) in a Series A funding round to fuel its expansion into international markets. ID-Pal offers global identity verification coverage of more than 6,000 identity documents and 200 verified address data sources to enterprise clients and SMEs across 200 countries and jurisdictions. The funding will…
Russia Sanctions Pose Challenges for Regulated Entities
By Martin Cheek, Managing Director, SmartSearch As fears of renewed Russian offensives put Vladimir Putin’s invasion of Ukraine back on the news agenda, the sanctions against Putin and Russia which followed the war have never gone away. Before the invasion, Russia was already subject to about 2,700 sanctions. Within two weeks of the attack, that…
How Can Firms Prepare for the CFTC Rewrite?
By Leo Labeis, CEO, REGnosys. The Commodity Futures Trading Commission’s (CFTC) rewrite of swaps reporting rules – known as the ‘CFTC Rewrite’ – is one of several upcoming changes to global trade reporting regimes. Earlier this year, it extended the deadline for financial institutions to comply from May 25, 2022, to December 5, 2022. The…
Plenitude Targets Financial Crime Risk with ClientSight CRR Solution
Financial crime risk specialist Plenitude has launched ClientSight, a cloud-based client risk rating (CRR) solution. The platform is aimed at helping financial institutions, fintechs and professional services firms to assess the financial crime risk of both individuals and entities. ClientSight seeks to address regulators’ heightened activity around financial crime and sanctions. CRR is a key…
The Current State of Play in Transaction Reporting: Herding Cats in a Hurricane
Regulated firms trading in markets globally are bracing themselves for what’s been termed a ‘sea change’ in regulators’ approach to transaction reporting. Having introduced the requirement to provide detailed transaction reports to market through prescribed reporting vehicles over the past few years, some key regulators – including ESMA, CFTC and MAS – are reviewing their…
Recorded Webinar: Embracing cloud in your firm’s regulatory response
Regulatory compliance is a key function for financial institutions. It is also a huge burden in terms of time, data management, systems resources, manual intervention, and reporting. As financial firms progress digital transformation programmes, is it time to move regulatory reporting to the cloud with a view to improved efficiency, reduced costs and better business…
Protecting Data Privacy in the Fight Against Financial Crime
By Ronen Cohen, VP of Strategy at Duality Technologies. A primary goal for financial institutions is to generate revenue while understanding and mitigating risk. Tackling financial crime and compliance issues, including fraud, cybercrimes and money laundering, is critical to achieving this goal and remains among the most challenging tasks for the industry. The perpetual problem…
Firms Turning to Voice Transcription to Address Regulatory Scrutiny
Demand for voice transcription services from surveillance professionals at financial institutions is at record highs, according to analysis from compliance data and technology specialist SteelEye. Firms are seeking voice-to-text solutions for calls on fixed-line, mobile, MS Teams, Zoom, WhatsApp, and other communications mechanisms as part of to their surveillance programmes. SteelEye analyzed all Requests for…
Video: ACA’s Charlotte Longman and Matt Chapman Discuss the Challenges and Solutions of Transaction Reporting
In this video, Charlotte Longman and Matt Chapman, managing directors and co-leads of ACA’s regulatory reporting monitoring and assurance solution – and winners of the most innovative trade and transaction reporting initiative in A-Team Group’s Innovation Awards 2022 – discuss the state of play in transaction reporting, the scale and detail of regulatory reporting breaches,…