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SteelEye Eyes North American Expansion with Beacon-Led Funding Round
UK-based regulatory data integration specialist SteelEye has secured £5 million of new funding from Boston-based Beacon Equity Partners, a private equity focused on the financial technology space, to finance its expansion into the North American marketplace. The company has already opened an office in Boston and is in the process of adding 22 new staff…
Preparing for IFPR: The Time to Act is Now
By Kwame Frimpong, Regulatory Product Manager at Wolters Kluwer FRR. With the implementation of the new Investment Firms Prudential Regime (IFPR), the FCA is aiming to streamline and simplify the prudential requirements for solo-regulated investment firms in the UK. While key details of the new rules remain to be finalized, panellists joining me on a…
SmartStream Adds AI to Reconciliation Platform
UK-based SmartStream Technologies has launched TLM Aurora Universal Data Control, an AI-enabled platform for managing the complex data underpinning firms’ reconciliations activities. TLM Aurora UDC builds on the technology used for SmartStream’s Air, its next-generation AI solution for reconciliation processing, version 2 of which was officially launched in October last year. Air introduces advanced AI…
Recorded Webinar: Developing operational resilience
Financial institutions’ operational resilience – essentially the ability to prevent, adapt and respond to, and recover and learn from operational disruptions – has come under extreme pressure during the coronavirus pandemic, with last year’s March lockdown creating unprecedented circumstances for financial firms. Employees working from home raised the stakes, as they still do, adding to…
Recorded Webinar: The UK’s New Prudential Regime for Investment Firms – Time to Prepare!
With the implementation of the new Investment Firms Prudential Regime (IFPR), the FCA is aiming to streamline and simplify the prudential requirements for solo-regulated investment firms in the UK. Under the new regime, all MiFID authorized, Collective Portfolio Management Investment Firms (i.e. UK UCITS ManCo and Alternative Investment Fund Management Firms permitted to undertake Additional Activities)…
China Merchants Bank Selects Appway for Onboarding and KYC Compliance Checks
China Merchants Bank – Singapore branch (CMB SG) has selected Appway to provide client lifecycle management solutions and domain expertise to accelerate the branch’s compliance agility and efficiencies. Appway’s Singapore office will lead the implementation of its Onboarding for Wealth and KYC Review solutions, as well as its Digital Binder product for front to back…
With First CFTC Limits Deadline Past, FundApps Urges Firms to Plan for Next Wave
Practitioners reported general readiness for the introduction last week of new CFTC rules around position limits, a decade after the regulator first floated its plans for changing them. Regulated firms are now being urged to prepare for further changes scheduled for next year, which will introduce new exchange rules and federal limits on derivatives contracts…
IPSX Creates Integrated Technology Framework Ahead of First Admission
UK-based IPSX, which describes itself as the world’s first regulated stock exchange dedicated to real estate assets, has pulled together an integrated technology environment and a set of standardised data workflows ahead of its first ‘Intention to Float’ (ITF) on its IPSX Wholesale market, scheduled for next month. IPSX has been working with a plethora…
Encompass Secures New Funding from Beacon
London-based Know Your Customer (KYC) automation software provider Encompass Corp. has secured new investment from Beacon Equity Partners, a Boston-based private equity firm that focuses on companies in the regulatory and compliance space, as part of a broader capital round that included existing investors. Joe Bradley will join Encompass’s Advisory Council, to sit alongside existing members Stephen Allen,…
The Lexicon is Dead – Time to Reboot
By Matt Storey, Chief Product Officer, SteelEye. For years now, surveillance of regulated employees at financial services firms has relied on the lexicon, a piece of technology that scans staff for specific words or sequences of words that could be associated with an act of market abuse or misconduct. For example, a firm might have…