The latest acquisition news from CUBE;
CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces the acquisition of Acin, a London-headquartered RegTech and global operational risk AI and technology provider for the financial services sector.
The acquisition further expands CUBE’s existing capabilities, with a proven regulatory controls data network and full traceability. It accelerates CUBE’s mission to help the financial services sector and adjacent regulated industries to navigate increasingly complex compliance and risk environments – providing an industry-first data driven end-to-end regulatory compliance and risk management platform.
Acin’s AI-based platform empowers financial institutions to safely digitise their non-financial risk analysis, using groundbreaking data intelligence and analytic capabilities. Acin has established a network that calibrates control data and facilitates the appropriate sharing of best practice and standards between financial institutions. This creates new opportunities for regulatory compliance and risk mitigation, as
customers can compare processes and best practices against their anonymised peers, offering valuable insight to enhance controls while maintaining full privacy and integrity of data.
The acquisition also signals the beginning of an expanded global industry collaboration led by CUBE and supported by five leading banks, with others expected to join over the coming year. This will enable broader collaboration in all areas of financial services compliance and risk.
Commenting on the acquisition of Acin, CUBE’s Founder & CEO Ben Richmond, said: “This is a significant step forward in how financial services firms across the globe can take a truly integrated approach to their compliance and risk management. Since the founding of CUBE fifteen years ago, we’ve become recognised for the transformational solutions we’ve delivered in compliance. We’ll now build on this by connecting the first and second lines of defence with a whole new end-to-end capability, which at its core will be the best of what AI can deliver for transformation.”
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