RegTech Insight Risk Management & GRC The latest content from across the platform
Themis Adds AI Chatbot to Financial Crime Platform
Themis has released an AI-powered chatbot integration for its financial crime platform. The chatbot is designed to provide instant assistance, speedy responses, personalised support and connections to experts. The 24/7 availability allows customers to receive assistance at any moment regardless of time zones or business hours, while instant responses supported by the inclusion of natural…
Singapore-Based GRC Solutions Provider Xcelerate Secures Funding for Acquisitive Growth
Xcelerate, a Singapore-headquartered provider of governance, risk and compliance (GRC) solutions to industry sectors including capital markets, has secured an equity funding round with participation from funds managed by Altair Capital and Exacta Capital Partners. Co-founders, management and select existing shareholders of Xcelerate also participated in the funding, which will be used to finance acquisitions…
Saifr Acquisition of Giant Oak Solution Adds Adverse Media Screening and Monitoring
Saifr, a Fidelity Investments company, plans to extend its RegTech capabilities with the acquisition of GOST, an AI platform developed by Giant Oak to deliver adverse media screening and monitoring. The addition is expected to provide financial institutions with broader functionality across regulatory intelligence, due diligence, risk management analytics and continuous monitoring, and help them…
UAE Commercial Bank International Selects Bloomberg MARS for Risk Management
Commercial Bank International (CBI), a national bank in the UAE, has selected Bloomberg’s Multi-Asset Risk System (MARS) modules for counterparty risk, market risk and valuation. The bank previously adopted MARS Front Office to help its LIBOR transition. The three additional modules make MARS the bank’s primary risk management system. The MARS counterparty risk (XVA) module…
NICE Actimize GenAI Solutions Cut Crime Investigation and SAR Filing Time
NICE Actimize, a provider of financial crime, risk, and compliance solutions, has released generative AI solutions designed to reduce the time and manual effort traditionally required for financial crime investigations and compliance reporting. The company suggests the solutions offer up to a 50% decrease in investigation time and a 70% reduction in Suspicious Activity Reporting…
SS&C and Regnology Collaborate to Ease Risk and Regulatory Reporting
SS&C Technologies, a provider of financial software and services, has made a strategic partnership with Regnology, a regulatory reporting and data company, to help clients meet upcoming regulatory requirements from the European Banking Authority (EBA). The collaboration is building a joint solution developed by SS&C Algorithmics and Regnology that addresses a wide range of needs…
Best Practice Approaches to Trade Surveillance for Market Abuse
Market abuse is a problem, a very big problem for financial institutions that fall on the wrong side of regulation. Penalties include eye-watering fines, reputational damage and, ultimately, custodial sentences of up to 10 years. Internally, market abuse triggers scrutiny of traders and trading behaviours, a lack of trust and the potential need for significant…
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…
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…