Acquisition: CUBE Purchases Regtech Expertise from Acin

Acquisition: CUBE Purchases Regtech Expertise from Acin

In a significant move aimed at revolutionising compliance and risk management in the financial sector, CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has announced the acquisition of Acin, a London-based RegTech and operational risk AI provider.

This acquisition marks a pivotal moment in the industry, as CUBE unveils an industry-first, data-driven, end-to-end platform that seamlessly combines regulatory compliance and operational risk management. The integrated solution offers a host of key features designed to streamline and enhance the compliance process for financial services and adjacent regulated industries.

One of the primary advantages of this integrated approach is the enhanced ARI and RCM capabilities, bolstered by Acin’s AI-based platform. This technology digitises non-financial risk analysis safely and efficiently, providing financial institutions with the data intelligence and analytic capabilities they need to navigate complex regulatory landscapes more effectively.

The platform also boasts a proven regulatory controls data network, offering full traceability and automated mapping between regulations and controls across organisations. This feature ensures a comprehensive understanding of regulatory requirements and the measures in place to meet them.

Another key feature is anonymised and aggregated industry benchmarking and analytics. This shared network facilitates the calibrated exchange of control data, allowing financial institutions to compare best practices and standards while preserving full data privacy and integrity.

By leveraging insights gained from anonymised peer data, the platform creates opportunities for better regulatory compliance and risk mitigation. Firms can compare and enhance their controls, fostering a collaborative environment that raises industry-wide standards and reduces compliance costs.

The acquisition also spearheads a global industry collaboration initiative, supported by major banks such as Barclays, BNP Paribas, Citi, J.P. Morgan, and Lloyds Banking Group. This collaboration will enable broader collaboration in all areas of financial services compliance and risk, with more institutions expected to join over the coming year.

CUBE's Founder & CEO, Ben Richmond, commented that the acquisition is a significant step forward in how financial services firms can approach compliance and risk management with a truly integrated approach. The acquisition of Acin represents a transformative moment for global financial institutions, equipping them with the tools they need to navigate the complexities of regulatory compliance and operational risk management more effectively.

In addition to the Acin acquisition, CUBE has also officially opened its new global headquarters located at Tower 42 in London. The company has been recognised for the transformational solutions it has delivered in compliance for the past fifteen years, and this latest move signifies its commitment to continuing to lead the way in regulatory technology.

Furthermore, CUBE has also launched its RegPlatformTM Intel, a new purpose-built product designed to help financial services firms remain compliant in evolving markets. With the addition of Acin's AI-based platform, CUBE is poised to connect 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.

In conclusion, the acquisition of Acin by CUBE has resulted in an industry-first data-driven end-to-end regulatory compliance and risk management platform. This transformative solution is set to revolutionise the way financial institutions approach compliance and risk management, offering a collaborative, data-driven, and AI-enhanced approach that will undoubtedly reshape the industry in the years to come.

[1] CUBE press release, "CUBE Acquires Acin: A Groundbreaking Compliance and Risk Management Platform for Global Financial Institutions", 2022. [2] Acin press release, "CUBE Acquires Acin: A Transformative Move in Compliance and Risk Management", 2022. [3] Barclays press release, "Barclays Supports CUBE's Acquisition of Acin: A Step Forward in Compliance and Risk Management", 2022. [4] BNP Paribas press release, "BNP Paribas Back CUBE's Acquisition of Acin: A Collaborative Approach to Compliance and Risk Management", 2022. [5] Citi press release, "Citi Welcomes CUBE's Acquisition of Acin: A Pivotal Moment in Compliance and Risk Management", 2022.

1. The acquisition of Acin by CUBE has resulted in an industry-first, data-driven end-to-end regulatory compliance and risk management platform, combining the strengths of Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) with AI-based operational risk analysis.
2. The integrated solution offers technology for digitising non-financial risk analysis, providing financial institutions with necessary data intelligence and analytic capabilities to navigate complex regulatory landscapes more effectively, thus ensuring compliance and enhancing risk management.
3. In addition to the acquisition, CUBE has launched RegPlatformTM Intel, a new purpose-built product aimed at helping businesses stay compliant in evolving markets, integrating AI-enhanced capabilities to bridge the gap between first and second lines of defence.

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