KGI Securities Singapore Implements Scila Risk for Enhanced Multi-Asset Risk Management

Scila AB, the risk and surveillance solutions provider, has successfully deployed Scila Risk at KGI Securities Singapore, to support its equities and derivatives operations. The implementation consolidates KGI’s legacy risk systems into a single, multi-asset platform, covering equities, commodities, FX derivatives, and Spot FX. This move enhances operational efficiency, optimises collateral usage, and provides a unified view of risk exposure across asset classes.

Scila Risk’s real-time capabilities enable KGI to monitor and calculate risk across various instruments and markets, offering greater flexibility and scalability. The platform features advanced tools such as “time warp” analysis and “what-if” simulations, equipping KGI with deeper insights into market scenarios. The adoption of Scila’s solution marks a significant step in strengthening KGI’s risk management framework, positioning it for greater agility in responding to market changes and regulatory developments.

NeoXam Enhances Gérifonds’ Regulatory Compliance Capabilities

Gérifonds, a fund management subsidiary of Banque Cantonale Vaudoise (BCV), has expanded its long-standing relationship with software provider NeoXam, aiming to improve regulatory compliance and operational efficiency.

Operating in Switzerland’s demanding regulatory environment, Gérifonds manages 138 funds totalling CHF 21.6 billion. To navigate complex regulations – such as the Collective Investment Schemes Act (CISA) and associated ordinances (CISO and CISO-FINMA) – Gérifonds has adopted NeoXam’s Compliance solution to automate regulatory oversight.

NeoXam Compliance acts like an automated monitoring system, continuously evaluating portfolio positions for compliance breaches. If an issue arises, the system issues immediate alerts accompanied by a detailed audit trail, enabling Gérifonds to swiftly resolve breaches and maintain robust regulatory adherence.

The new capabilities build upon Gérifonds’ use of NeoXam’s GP investment accounting software, which has been in place for two decades. The combined solutions provide a streamlined workflow where anomalies are rapidly identified and resolved.

Philipp Sfeir, NeoXam’s Head of EMEA North, explained that while NeoXam Compliance comes pre-loaded with the “Swiss Rule Package,” users can add customized rules, enabling tailored compliance monitoring for investment-specific policies, including asset-type distributions and issuer concentration limits.

“In addition to the compliance offering, Gérifonds successfully utilises the latest generation of our investment accounting solution, GP4,” added Sfeir, highlighting the integrated approach Gérifonds employs to maintain operational effectiveness.

LeapXpert Acquires StartADAM and Broadens Channel Compliance Coverage

Communications compliance provider LeapXpert has acquired cross-platform messaging startup StartADAM extending its reach in the governed-messaging niche. Announced in New York on June 3, the deal folds StartADAM’s people, intellectual property, and product into The LeapXpert Communications Platform, adding fresh AI muscle, two new messaging channels, and three CRM connectors.

By integrating StartADAM’s agentic AI into LeapXpert’s existing intelligence layer (Maxen), the combined platform now auto-summarises threads and extracts action items in real time—functions that compliance and front-office teams typically bolt on via third-party add-ins.

“This is a natural evolution for our product and mission,” said Dima Gutzeit, Founder and CEO of LeapXpert. “StartADAM’s innovations in AI, Slack, Discord, and CRM will be deeply embedded into our platform—unlocking powerful new capabilities for our customers. It’s another important step as we scale the platform across new verticals, channels, and intelligence layers.”

New and expanded channels

Discord (in beta): Popular with gaming studios and crypto firms, Discord is edging into mainstream business use. LeapXpert says governed Discord support will shortly join its roster of WhatsApp, iMessage, SMS, Telegram, Signal, WeChat, and LINE.

Deeper integration with Slack: Corporate users can already route external chats through Slack, but the strengthened “Governed Mode” keeps them inside Slack while handling WhatsApp or other consumer apps in the background—key for advisors who live in channel-centric workflows.

CRM synchronisation: Native two-way sync with Salesforce, HubSpot, and Microsoft Dynamics means contacts, chat history, and context now flow automatically between front-office systems and messaging channels. Closing that loop is a common pain-point for firms juggling relationship data and retention rules.

“StartADAM shares our belief in intelligent, responsible business communication,” noted Avi Pardo, Co-Founder and CBO of LeapXpert. “We built StartADAM to reduce friction in business communications and add a layer of collective intelligence to conversations,” added Adam Stone, Co-Founder of StartADAM. “Joining LeapXpert gives us the reach and infrastructure to deliver on that mission at a global, enterprise scale.”

The announcement lands a few months after LeapXpert’s Portage-led Series B and a run of analyst recognition—including Most Innovative Trade Surveillance Solution in A-Team Group’s Innovation Awards 2025 and Visionary status in Gartner’s 2025 Digital Communications Governance & Archiving Magic Quadrant.

Less than 3 Months until Canadian OTC-Derivatives Trade Reporting Rewrite Enters Force

Canada’s long-awaited rewrite of its OTC-derivatives trade-reporting regime enters force on 25 July 2025, completing a multi-year effort by the Canadian Securities Administrators (CSA) to bring national rules into line with global data standards and the U.S. CFTC’s 2024 “swap-data” overhaul.? 

The amendments—first published in final form on 25 July 2024—touch every province and territory and will require virtually all swap dealers, clearing venues and many buy-side end- 

The new framework more than doubles the number of reportable data fields (from 72 to 148) and embeds the CPMI-IOSCO Common Data Elements alongside mandatory Unique Transaction and Product Identifiers, closing long-criticised cross-border gaps in the Canadian dataset.? 

A revised hierarchy now makes the “financial entity” among two Canadian dealers the default reporting party, while certain trades executed on recognised derivatives trading facilities shift the burden from dealers to the venue itself—moves designed to curb duplicate submissions and align with CFTC practice.? 

Error-handling rules have also tightened: firms must alert regulators to any “significant” inaccuracy as soon as practicable—and no later than the close of the next business day—bringing Canada into step with U.S. swap-data rules.? 

Technical specifications for every field, including XML schemas, sit in a new CSA Derivatives Data Technical Manual, giving market participants a single source of truth for permissible values and file formats. 

Implementation testing is already under way. DTCC’s designated Canadian repository opened a simulator on in March and followed with full end-to-end certification in April. Rival repositories have published near-identical schedules, leaving firms less than three months for defect remediation.? 

Legal advisers warn that buy-side entities relying on delegated arrangements will need to verify that new collateral, margin and lifecycle fields are correctly captured, while wealth-management affiliates may face position-level reporting for the first time.? 

For global dealers, the rewrite should simplify cross-border reporting once initial re-tooling costs are absorbed. By mirroring CFTC rule-text and embedding international Common Data Elements (CDEs), Canada removes a long-standing source of fragmentation that forced firms to maintain parallel mappings for ostensibly identical swaps.? 

Regulators, meanwhile, gain cleaner, more comparable data for systemic-risk surveillance—particularly valuable as interest-rate, commodities and crypto-linked derivatives volumes migrate between North American venues. With the clock ticking, market participants now face a tight—but achievable—window to finish development, certify with their trade repositories and lock down operational playbooks before the 25 July go-live. Failure to do so could leave firms unable to submit day-one reports and expose them to enforcement action from provincial regulators.?

ACA Adds Transaction Cost Analysis Capabilities with Global Trading Analytics Acquisition

ACA Group has acquired Global Trading Analytics (GTA), expanding its capabilities in transaction cost analysis (TCA) and best execution support across global financial markets. The move strengthens ACA’s positioning as a provider of technology-enabled governance, risk, and compliance (GRC) solutions, particularly for firms navigating increasingly complex regulatory expectations.

GTA, based in Rutherford, New Jersey, brings with it a long-established reputation in multi-asset class TCA, including equities, fixed income, foreign exchange, futures, and derivatives. Its client base—comprising investment advisers, asset managers, broker-dealers, and wealth managers—will now have access to ACA’s broader suite of compliance and risk solutions. Nearly half of GTA’s clients already work with ACA, offering opportunities for deeper integration.

TCA has grown in importance as regulators continue to scrutinize execution quality. The data-intensive process helps firms measure both explicit and implicit trading costs, allowing them to evaluate broker performance, refine algorithmic strategies, and demonstrate compliance with best execution standards.

Commenting on the rationale behind the deal, ACA CEO Patrick Olson said: “The acquisition of GTA underscores our ongoing commitment to expanding our offerings and equipping our clients with the tools and expertise they need to meet evolving compliance requirements.”

GTA’s leadership sees the transaction as an opportunity to scale while maintaining continuity for existing clients. “Along with my fellow co-founders, Joe Arleo and Clem Cheng, we’re pleased that this partnership ensures our clients will continue to receive the high-touch service they rely on, now strengthened by ACA’s complementary capabilities and broad resources,” said John Halligan, Co-Founder and President of GTA.

The combined offering is expected to deliver enhanced support for firms seeking to reduce trading costs, optimize execution quality, and meet regulatory obligations with confidence.

Aryza Strategic Acquisition of RiskLogix Solutions Expands Compliance and Geographical Reach

Aryza, a global provider of mission-critical automation software across the credit lifecycle, is pleased to announce the acquisition of RiskLogix Solutions, a prominent provider of governance, risk, and compliance (GRC) solutions. This strategic acquisition reinforces Aryza’s commitment to delivering best-in-class Credit & Debt Lifecycle Management SaaS solutions and positions both companies for accelerated growth and innovation.

The integration of RiskLogix Solutions into Aryza’s portfolio enables significant synergies through an overlapping customer base. Existing customers of both companies will benefit from an expanded suite of products and services, creating a comprehensive solution offering that addresses evolving market demands. By combining the strengths of both businesses, customers can expect enhanced functionality and greater value.

The acquisition will enable RiskLogix Solutions to leverage Aryza’s global presence to introduce its innovative solutions to new regions, and lays the foundation for Aryza’s future governance, risk, and compliance (GRC) offerings.  Aryza is poised to deliver a next-generation GRC platform that meets the demands of an increasingly complex regulatory and business environment.

Colin Brown, CEO of Aryza: “We are thrilled to welcome RiskLogix Solutions to the Aryza family. This acquisition not only strengthens our product portfolio but also expands our global reach and deepens our technical capabilities. We are accustomed to working in highly regulated sectors, and this acquisition is a natural progression for our business. We have a track record of springboarding smaller, high-potential businesses into the international market, and I look forward to incorporating RiskLogix-RiskLogix Solutions’ GRC capabilities into the Aryza product offering.”

John Kiddy, CEO of RiskLogix Solutions: “Joining forces with Aryza marks an exciting new chapter for RiskLogix Solutions. Our shared vision and complementary strengths will enable us to reach new heights and deliver cutting-edge solutions to a broader audience. We look forward to leveraging Aryza’s global network to accelerate our growth and bring our offerings to new markets. Aryza and RiskLogix Solutions are committed to ensuring a simple transition for customers and stakeholders moving forward.”

AI-Driven Insights Give Financial Crime Teams a New Edge

Digital intelligence firm Fivecast is bringing its AI-powered platform—originally used in national security—into the financial crime space.

The platform is designed to help compliance and investigation teams better detect risk by surfacing insights from vast amounts of online, publicly available data. Built around open-source intelligence (OSINT), it applies machine learning to identify red flags across customer profiles and transactions—speeding up risk assessments and reducing manual workloads.

According to the company, the platform has shown a four-fold increase in efficiency over traditional investigative methods when applied to KYC, EDD, and AML use cases. This comes at a time when regulatory bodies are demanding more from firms: new definitions and obligations under EU AMLD6, recent enforcement activity from FinCEN and the OCC, and revised AUSTRAC guidance have raised the bar for due diligence.

Legacy systems and static data sources often fail to capture the broader online activity that may signal criminal behaviour. Fivecast’s offering aims to close that gap by analysing a broad “digital footprint” across online content, including multimedia. The goal: a more complete, risk-based view of customer behaviour and affiliations.

The approach is gaining traction amid growing enforcement. In 2024, U.S. regulators alone imposed more than $4.3 billion in fines related to financial crime, including a $3 billion penalty against TD Bank for shortcomings in due diligence processes.

“Some banks employ thousands of analysts to perform enhanced due diligence and investigate money laundering or terrorism financing,” said Duane Rivett, Co-founder and VP of Strategic Growth at Fivecast. “Just as national security agencies use our products to analyse extremist or terrorist networks online, banks are doing the same with a slightly different focus.”

While the company recently received recognition from the Australian Government’s Department of Defence for its innovation in open-source intelligence, its expansion into the financial sector reflects broader adoption of national-security-grade tools in commercial compliance. The trend suggests financial institutions are shifting from traditional workflows to more adaptive, intelligence-led approaches to risk and compliance.

SIX Rolls Out Data Service to Help Institutions Navigate Digital Asset Rules

Swiss based financial services and market infrastructure provider SIX Group as introduced a new data package designed to help financial institutions better understand their exposure to digital assets amid a rapidly changing regulatory landscape. The Digital Assets Regulatory and Tax Service provides a consolidated view of evolving obligations, aiming to support compliance efforts as digital assets move further into the financial mainstream.

The service enables firms to assess whether more than 80,000 crypto-related instruments—including tokens and blockchain-based assets—fall under specific regulatory and tax regimes. Updated daily, the dataset allows users to monitor and flag changes tied to regulations such as the EU’s Markets in Crypto-Assets (MiCA), MiFID, the OECD’s Crypto Asset Reporting Framework (CARF), and the U.S. IRS Form 1099-DA.

It also accounts for traditional financial assets linked to underlying crypto assets and supports compliance with frameworks in jurisdictions such as Hong Kong. The dataset draws on multiple established sources including the ESMA Register, the Digital Token Identifiers Foundation, and CCData.

Financial institutions can access the data through SIX Flex®, the firm’s customizable platform for managing market, reference, regulatory, and ESG data.

Roy Kirby, Head of Core Products at SIX, noted the relevance of the launch: “This tool couldn’t arrive at a more opportune time for financial institutions in Europe and farther afield. It will provide firms with an extremely detailed and reliable snapshot of their digital assets obligations across an incredibly vast array of crypto-based instruments. Critically, it will do so at a time when the regulatory landscape for digital assets is shifting at an unprecedented rate.”

With institutional adoption of digital assets growing, tools that offer structured insights into shifting compliance requirements are becoming increasingly essential.

Flagright Secures $4.3M to Expand AI-Native AML Platform and Global Footprint

As financial crime grows increasingly sophisticated—with deepfake scams and AI-powered fraud on the rise—compliance teams face mounting pressure to match that pace of innovation. One startup, Flagright, is doing just that by building a full-stack AML compliance platform powered natively by artificial intelligence.

Co-founded in 2022 by Baran Ozkan and Madhu Nadig, Flagright has raised $4.3 million in seed funding to expand its AI agent capabilities and support international growth. The round was led by Frontline Ventures, with backing from prominent angel investors, including former executives from Zalando, Revolut, GoCardless, and others.

AI is now implicated in a significant portion of financial scams. A high-profile incident in Hong Kong saw an employee wire $25 million to fraudsters following a convincing deepfake video call. Reports suggest fintech-related deepfake incidents surged by 700% in 2023. Against this backdrop, Flagright has positioned itself as a counterweight to such threats by embedding AI at the heart of its compliance tools.

“We were really early-stage when the boom in AI came into effect, meaning we could implement AI-native solutions from the very start,” said co-founder Baran Ozkan. “It is true that bad actors in financial crime are finding new ways of using AI all the time, which is what makes the work Flagright is doing so important.”

Initially focused on real-time transaction monitoring, the company has since evolved into a full-featured AML operating system. Today, Flagright serves over 50 clients across six continents, offering tools like dynamic risk scoring, automated case management, and AML screening, all built on a high-availability infrastructure with real-time processing.

Client feedback suggests measurable operational gains. Tom Jennings, CEO of B4B Payments, noted: “By integrating Flagright’s AI-native compliance platform, we have enhanced our fraud detection and AML monitoring capabilities. This allows us to proactively identify and mitigate risks, ensuring a safe and secure environment for our customers while upholding the highest standards of compliance.”

The funding will also support the expansion of Flagright’s AI Forensics tools, which the company claims have already reduced false positives by up to 93% and cut operational costs by 80%. These tools are being developed into a broader product family targeting key areas such as governance, screening, monitoring, and quality assurance.

In parallel, Flagright is ramping up its global presence. The company is expanding operations in New York and San Francisco and has recently opened an EMEA headquarters in London to complement its teams in Berlin, Singapore, and Bangalore. These moves are designed to support customers around the clock and build stronger relationships with financial institutions across regions.

Will Prendergast, Partner at Frontline Ventures, explained the rationale for their continued backing: “During our research with financial institutions before Frontline’s initial investment in Flagright, we kept hearing how Flagright had outperformed other companies—we believe they will be the compliance platform category winner, making them a perfect fit for Frontline.”

As financial institutions prepare for an AI-driven future, Flagright’s latest funding and roadmap underscore a growing trend: compliance isn’t just keeping up with fraudsters—it’s using the same tools to get ahead.

FinCEN Trims CTA with Interim Rule

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that significantly alters the reporting requirements under the Corporate Transparency Act (CTA). This rule exempts U.S.-based entities, previously classified as “domestic reporting companies,” from the obligation to report beneficial ownership information (BOI) to FinCEN. Consequently, these domestic entities are no longer required to submit, update, or correct BOI reports. The focus now shifts to “foreign reporting companies,” defined as entities formed under foreign laws but registered to do business in the United States. These foreign entities are still required to report BOI, but the rule extends their filing deadline by 30 days from the rule’s publication date— to April 20, providing additional time for compliance. Notably, foreign reporting companies are exempted from reporting BOI of any U.S. persons who are beneficial owners, and U.S. persons are not required to provide such information to these foreign entities.

This interim rule comes after a period of legal uncertainty surrounding the CTA’s implementation. Previously, court orders had halted BOI reporting requirements between December 3, 2024, and February 18, 2025. With the issuance of this rule, FinCEN has clarified the current obligations, emphasizing that domestic entities are exempt from reporting, while foreign entities must comply within the specified timeframe. FinCEN is accepting public comments on this interim rule and intends to issue a final rule later this year. Entities affected by these changes should review the interim rule in detail and consider submitting comments to FinCEN during the open period.