Financial reg tech company CUBE partners with Sionic
Sionic, a global consulting firm, has announced a new partnership with financial reg tech pioneers CUBE. This new 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 across the world manage multiple, complex regulatory changes, all of which impact different business areas, and geographic regions. The past year has brought big changes for many businesses and whilst some aspects are now automated, much remains manual, time-consuming, and prone to error. Sometimes 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 categorised and mapped to the associated operational controls.
Producing and providing insights for customers
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.”
Born of the 2008 financial crisis, CUBE combines industry-leading technology and automation with insights to enable global financial institutions to streamline their regulatory change management processes. Using 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.
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 reg tech 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.”