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HKMA Invites RegTech Tenders
The HKMA (Hong Kong Monetary Authority) is inviting tenders for the provision of professional services to help it facilitate the adoption of RegTech by the banking industry, with services expected to commence in May 2020. Submission details can be found in the tender document, which can be obtained upon request by email to regtech@hkma.gov.hk.
ESMA Consults on New MiFIR and MiFID II Regimes for Third-Country Firms
The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has launched a consultation on draft technical standards on the provision of investment services and activities in the European Union (EU) by third-country firms under MiFIR and MiFID II, which will specify the information that third-country firms must provide to ESMA for the…
All Eyes on Oracle as it Upgrades Financial Crime Capabilities
Global anti-money laundering and sanctions fines hit a record high of $5.7 billion in 2019 (compared to $3 billion in 2018 and $2 billion in 2017). Coupled with the growing threat of sophistication, and rising compliance costs, financial institutions are desperate for solutions to help them deter financial crime – and avoid massive penalties. Oracle…
BearingPoint Expands Business in Sweden
BearingPoint RegTech has won Stockholm-based GCC Capital AB (GCC) as a new customer for its Abacus360 Banking solution, a Regulatory-as-a-Service (RaaS) model. GCC will use Abacus360 Banking to fulfil its EBA reporting. In addition to RaaS, the solution for GCC also includes professional services covering the use of a cloud-based data management solution as well…
ESMA Launches Supervisory Action On MiFID II Suitability Rules
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is launching a common supervisory action (CSA) with national competent authorities on the application of MiFID II suitability rules across the EU, to be conducted during 2020. The CSA will focus on the application of the MiFID II requirements on the assessment of…
Pelican Expands in South Korea
Pelican, a global provider of AI-powered payments and financial crime compliance solutions for banks and corporates, has expanded its global sales reach through a partnership with CMSoft Co in South Korea. The new strategic partnership will enable the company to bring its PelicanSecure Trade Compliance solution to the financial services industry in South Korea. “We…
Fenergo Gets $80 Million Investment from ABN Amro and DXC Technology
Dublin-based Fenergo has secured $80 million of new funding from ABN Amro and financial infrastructure specialist DXC Technology in one of the biggest RegTech financing rounds yet. The company, which specialises in solutions for AML and KYC, as well as client lifecycle management (CLM), plans to use the funds to acquire new capabilities in the…
SteelEye Outlines International Expansion and Product Development Plans Following Series A funding of $10 Million
SteelEye will extend its presence in Europe, evolve its regulatory compliance and data analytics products, and expand its team after raising $10 million of Series A funding in a round led by Eight Roads, the proprietary investment firm backed by Fidelity, and including its existing investor Illuminate Financial. Looking two years out, the company is…
Encompass Receives £2m Grant for AI Project
RegTech Encompass has been awarded a £2 million grant from Scottish Enterprise to develop an AI engine to accompany its KYC product offering. The funding, part of a £4.9, project, will help customers to accurately find risk relevant information about their organisations and investments, from a wide-ranging pool of data. “We have a long-standing relationship…
Recorded Webinar: Digital Investor Onboarding and Transformation for Asset Servicers and their partners
Transfer agents, fund administrators & custodians are endeavouring to deliver a better Investor Experience (IX) for their clients, seeking to differentiate their offerings and to truly deliver value adding services across the entire investor lifecycle. The race is on to stand out & better differentiate their firms, to showcase their technological onboarding & management prowess,…