Sionic, the global consulting firm and financial regtech company, Cube, have announced a new partnership.
The collaboration aims to accelerate regulatory compliance, by combining Cube’s AI-regulatory data inventory with Sionic’s applied expertise in global financial compliance.
Financial institutions worldwide manage multiple, complex regulatory changes, all of which impact different business areas, and geographic regions. While some aspects are now automated, much remains manual, time consuming and prone to error. Even the automated elements are overly complex, sending myriad alerts to users who then still need to discern which is relevant to them.
The combination of Sionic and Cube will ensure that clients have up-to-date regulatory obligations that are relevant to their business, removing the inefficiency of false-positives, that are categorized and mapped to the associated operational controls.
Ben Richmond, Founder and CEO of Cube says: “Partnering with Sionic represents a key step on Cube’s journey to transform regulatory data into regulatory intelligence. Our inventory is built on ten years’ experience and expertise working with regulatory data. Coupling that with Sionic’s deep domain expertise is a compelling combination for financial firms across the globe who are looking to transform their regulatory compliance.”
Robert Cranmer (pictured), Managing Partner and Head of Sionic Canada says: “Our clients rely on us to provide insights and solutions that are relevant and timely. Partnering with Cube enables us to combine the best of regtech and AI with our experience of what clients need to do to be compliant with regulations and crucially, how they need to do it. We are delighted that this innovative partnership originated from our Toronto-based team. We believe that accessing Cube’s inventory will be a powerful accelerant of regulatory intelligence across North America and beyond, offering significant efficiency benefits to our whole international client base.”