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S&P Global Market Intelligence Adds Quantifind Sanctions Screening Data to Entity Insights
S&P Global Market Intelligence has enhanced its entity due diligence platform, Entity Insights, with the inclusion of sanctions and adverse media screening data. The additional data is provided by Quantifind and enables users to screen more than 30 million entity records from more than 30,000 global sources to meet due diligence requirements and manage reputational…
How 2024 will be a Monumental Year with Evolving Regulatory Requirements
By Leo Labeis, CEO at REGnosys. This year will be uniquely busy with numerous changes to global reporting regimes. This article explores the changes firms need to be aware of and how RegTech solutions can help them stay ahead of the curve. RegTech is one of the fastest advancing areas of fintech with the global…
Corlytics Reports Eye-Watering Fines for 2023 Regulatory Breaches
Corlytics, a provider of regulatory risk intelligence, has released an enforcement data report for 2023 revealing financial crime, data protection, and governance as the main risk categories for financial services with the highest penalties. Some $6.7 billion of fines were imposed for financial crime, most of which were for money laundering and terrorist financing. Looking…
Azentio Partners Regula to Automate Identity Proofing In Digital Onboarding Solutions
Azentio Software, a Singapore-based technology firm, has made a strategic partnership with Regula, a global developer of forensic devices and identity verification solutions, to improve its digital onboarding solutions. Two Regula solutions, Regula Document Reader SDK and Regula Face SDK, will be integrated with Azentio ONEBanking and Azentio ONECapitalMarkets platforms. Regula Document Reader SDK ensures…
Compliance Automation Provider Ascent Technologies Acquired by Edgewater Equity Partners
Ascent Technologies, a Chicago-based provider of AI-driven compliance automation, has been acquired by Edgewater Equity Partners, a private equity firm in Boston. The acquisition aims to accelerate development of Ascent’s compliance automation platform and enhance its value proposition to customers. The acquisition is a strategic move for Edgewater Equity Partners, which acknowledges Ascent’s capability in…
Firms in the US Prepare to Meet Compliance Date for UPI in Regulatory Reporting
The Derivatives Service Bureau (DSB) has released figures indicating industry readiness for the first jurisdictional compliance date for the inclusion of the Unique Product Identifier (UPI) in regulatory reporting in the US on 29 January 2024. The US is the first jurisdiction to start UPI reporting in G20 derivatives markets with EU EMIR Refit regulations…
Encompass Plans Corporate Digital Identity Platform Following Acquisition of CoorpID and Blacksmith KYC
Encompass Corporation, a provider of real-time digital Know Your Customer (KYC) profiles, has acquired CoorpID and Blacksmith KYC from ING to develop a platform that solves the critical challenge of identification and verification of corporate and institutional clients. ING will be a stakeholder and development partner to Encompass and will use the platform in the…
Quantexa Partners Anti-Human Trafficking Intelligence Initiative
Quantexa, a provider of decision intelligence solutions, has announced corporate sponsorship and advisory council membership of the Anti-Human Trafficking Intelligence Initiative (ATII). The ATII is a US-based non-profit organisation with a mission to fight human trafficking and child exploitation by providing data to advance the prevention, detection, investigation, and reporting mechanisms required to identify potential…
Broadridge and Boring Money Collaborate on Consumer Duty Solution for Asset Managers
Boring Money, a financial data and insights business, and Broadridge Financial Solutions have collaborated to help asset managers address the requirements of the UK’s Consumer Duty regulation. The duty applies to all new financial services products, and to all products and services currently available to retail customers. Among others, consumer duty affects regulated firms, and…
Refinitiv Releases Sub-Saharan Africa Financial Crime Report
Refinitiv, a London Stock Exchange Group business, has released the results of its second financial crime report for Sub-Saharan Africa. This year, the survey highlights trends including low awareness of third-party exposure, high demand for advanced compliance technology, emerging supply chain risks, and lack of digital identity solutions in Know Your Customer protocols. According to…