Amanda Khatri
Editorial Manager
Posted: 2021-09-06
Financial RegTech pioneers CUBE have announced a new partnership with Sionic, the global consulting firm. The collaboration aims to accelerate regulatory compliance, by combining CUBE’s AI-powered 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 a myriad of alerts to users who then still need to discern which is relevant to them.
The combination of CUBE & Sionic 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 10 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, 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.”
About CUBE
CUBE is a global RegTech boasting the world’s most comprehensive source of classified, meaningful regulatory intelligence. Born of the 2008 financial crisis, CUBE combines industry-leading technology and automation with expert-validated insights to enable global financial institutions to streamline their complex regulatory change management processes.
Using leading techniques in artificial intelligence, including machine learning and natural language processing, CUBE captures and classifies all regulatory content across 180 countries in 60 languages and maps it to customers’ compliance frameworks, from financial crime to cyber, privacy, tech risk and more.
About Sionic
Sionic is a global consulting firm specialising in financial services. Our purpose is to accelerate the business, technology and people performance of our clients and to have a positive impact on our society. We are expert-led specialists across banking, asset and investment management, financial markets infrastructure, wealth management, insurance and reinsurance.
We offer multi-disciplinary, multi-capability expertise across six core areas: business strategy, operational excellence and improvement, technology transformation and digitisation, international regulatory compliance, risk, finance and control, leadership, talent and cultural transformation. Our main offices are in New York, Toronto and London and we have 300+ staff based across North America, Europe and Asia.