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Global Screening Services Raises $47 Million, Moves into Operational Phase
Global Screening Services (GSS), a provider of transaction screening, has completed a Series A2 funding round raising over $47 million (£37 million). The investment will support the London-based company’s transition from a development to operational phase as its cloud-native platform prepares to go live with inaugural clients. Originally incubated by AlixPartners, GSS tackles the complexity…
SmartSearch Sets Growth Plans Following Investment from Triple Private Equity
SmartSearch, a UK provider of digital compliance and anti-money laundering (AML) software, has received a large investment from Triple Private Equity. The private equity firm will gain a majority share in SmartSearch and work with the company to support its core markets and continued expansion following the release of its latest technology platform last year….
EU Parliament Approves Landmark Artificial Intelligence Act
The EU Parliament has approved the Artificial Intelligence Act, marking the world’s first regulation of AI. The regulation establishes obligations for AI based on its potential risks and level of impact and is designed to ensure safety and compliance with fundamental rights, democracy, the rule of law and environmental sustainability, while boosting innovation. The act…
SmartStream Reference Data Services Provides Derivatives Data for EMIR Refit
SmartStream Reference Data Services (RDS) has released an enhanced derivatives data service providing in-depth insights into futures related transactions and playing into EMIR Refit reporting requirements. EMIR Refit is geared towards enhancing transparency and stability in the OTC derivatives trading market and is set to take effect in April for Europe and September for the…
A-Team Group Announces Winners of RegTech Insight Awards APAC 2024
A-Team Group has announced the winners of its RegTech Insight Awards APAC 2024. The awards are designed to recognise excellence in RegTech solutions and services, and focus on vendors providing exceptional offerings to capital markets participants in APAC. The winners of the awards were announced on 6 March 2024. This year’s RegTech Insight Awards APAC…
Fusion Risk Management Adds Generative AI Powered Resilience Copilot
Fusion Risk Management, a provider of cloud-based operational resilience, business continuity, and risk management solutions, has announced general availability of its generative AI-powered assistant, Fusion Resilience Copilot, following a successful global beta program. The Copilot is pre-configured to answer questions at the click of a button and enables practitioners to automate manual and time-consuming activities,…
Archer Acquisition of Compliance.ai Drives AI-Powered Regulatory Compliance and Risk Management
Compliance.ai, a San Francisco, California-based provider of AI driven regulatory change management solutions, has been acquired by Kansas headquartered risk management specialist Archer. The acquisition will enable Archer to supplement its compliance line-up with cutting-edge AI technology to automate the monitoring, tracking, reporting, and response to changing regulations in real time. Archer integrates risk and…
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…
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…