Sumsub’s integration with Chainalysis and its Bring Your Own Key (BYOK) management model paves the way for a new era in digital compliance for crypto businesses, providing unified workflows and automated monitoring of transactions via a secure channel. With crypto regulations becoming more stringent and sophisticated, this partnership ensures that clients stay compliant and keep fraudsters and money launderers at bay.

Now, crypto exchanges, peer-to-peer marketplaces, and neobanks interacting with crypto for their customers can set up automated crypto transaction monitoring and advanced analytics for deeper investigations and effective risk management in one unified dashboard. With a Chainalysis key management model incorporated into the Sumsub full-cycle verification platform, they can enhance privacy and take complete control of their data, smoothly streamlining their KYC, AML, and transaction monitoring processes in one move.

“We are proud to work with Chainalysis, the leading blockchain intelligence provider in the world. This partnership enables us to offer access to over one billion mapped addresses across multiple blockchains to those customers who use Sumsub’s Transaction Monitoring and Chainalysis crypto risk solutions,” comments Jacob Sever, co-founder and Chief Innovation Officer at Sumsub. “Sumsub’s solution enhanced capabilities, integrated with Chainalysis’ analytics and key management model, are reshaping the landscape of crypto compliance and security in the digital realm. Through this integration, businesses can align with stringent global AML and KYC regulations, fostering trust and confidence in crypto transactions.”

“Partnering with Sumsub, a leading identity verification and fraud prevention platform, is another step for us towards bringing greater trust and transparency into the crypto world. By developing an integration between Sumsub’s platform and our crypto risk solution, we’re providing next generation digital infrastructure for security and compliance controls in the crypto industry. Together, we are striving for the cryptocurrency economy to flourish,” adds Ian Andrews, Chief Marketing Officer at Chainalysis.

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Today’s businesses are under significant pressure to transform their accounting and finance operations for greater accuracy and more valuable data and insights – critical for steering organisational strategy. This includes an increased focus on strengthening internal controls to comply with regulations, be audit-ready, and protect the business.

FloQast addresses these needs by offering accounting teams a wealth of resources to improve communication and transparency, automate time-consuming tasks, and assure financial accuracy. This empowers them to work collaboratively, reduce errors, and accelerate record-to-report and compliance management processes. PwC UK’s deep understanding of finance transformation and optimisation, regulatory environments, and industry-specific challenges will enrich the partnership by providing tailored consulting services to clients seeking greater efficiency and accuracy.

“FloQast is proud to partner with PwC UK, continuing our momentum in the region by pairing FloQast’s cutting-edge Finance and Accounting technology with PwC’s industry and consulting expertise”, said Adam Zoucha, Managing Director, FloQast EMEA. “The partnership comes at a critical strategic moment for many organisations, and we’re excited to be a resource for our customers as they pursue financial transformation.”

“We are hugely excited to embark on this journey with FloQast to help businesses in the UK and EMEA region to accelerate financial transformations and deliver accounting operational excellence,” said Lauren Cottier, Partner Enterprise Business Applications, PwC UK. “By combining our expertise in system implementation, back-office transformation and risk and compliance with FloQast’s best-of-breed advanced workflow automation, we aim to deliver comprehensive solutions that address the unique challenges faced by finance teams today.”

In 2023, FloQast announced a strategic consulting partnership with PwC Germany to enhance financial close solutions in the region. This latest collaboration between PwC UK and FloQast is built upon PwC UK’s dedication to delivering outstanding client service and FloQast’s commitment to innovation, forming a robust foundation for their strategic partnership.

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Additionally, Source by First AML combines data sources, risk assessment, onboarding, case management, verifications, entity structure builds, PEPs and sanctions, workflow management and more in one easy-to-use place. It’s now set to become even more accessible due to NayaOne’s Sandbox-as-a-Service, which will make it available to a range of financial institutions. NayaOne provides access to synthetic datasets, tech marketplace and a digital sandbox to discover, allowing firms to evaluate and scale third party technologies to production to build proofs of concepts in 4-6 weeks. 

Source by First AML is designed to empower  financial institutions to save valuable time, reduce costs, and eliminate frustrations associated with AML/KYC compliance. Whether it’s simple EIV checks or tackling the most challenging and high-risk compliance areas, the platform equips organisations with the tools and capabilities to handle it all seamlessly from one platform.  

It makes business sense, too; thanks to Source’s smoother onboarding procedure, it means there is a quicker time to revenue. It is designed for organisations to scale without excess, with more convenient onboarding processes that lower customer drop-off numbers and allow firms to use compliance as a competitive edge. With Source, there is less risk to a business in both monetary and reputational terms. 

From legacy systems to leading innovation 

Stride.VC,  a London-based early-stage tech investor, struggled with painful, manual AML processes. A slick customer experience is expected, although not always delivered due to archaic processes, and First AML offered the opportunity for more effective work in that area. In 2021, Stride.VC implemented First AML to streamline workflows and screening checks to onboard limited partners and investments. 

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With the impending release of the new SEC rule in October of 2023, and as 9 states have already rolled out their own cybersecurity regulations, Smartria’s Cybersecurity Focus is poised to revolutionize the landscape of cybersecurity compliance for RIAs.

“We developed Cybersecurity Focus to align seamlessly with forthcoming regulations,” said Mac Bartine, CEO of Smartria. “Our ultimate goal is to empower our clients with a truly comprehensive cybersecurity solution that not only protects their clients, but also their own firms. We aim to provide our client firms peace of mind by enabling them to effortlessly prove compliance with this vital yet complex new rule, which is currently creating uncertainty and concern within our industry.”

Unlike other cybersecurity offerings, Cybersecurity Focus has placed careful attention on matching the full demands of the SEC’s rule as it’s been proposed, delving deep into its intricate requirements and their underlying intent. The robust solution packages an array of pivotal components together, including:

• Cybersecurity Policies and Procedures Templates: Pre-designed templates meticulously aligned with regulatory standards, ensuring a solid foundation for compliant operations.
• Associated Compliance Workflows: Streamlined workflows that facilitate adherence to cybersecurity policies and procedures, minimizing administrative overhead.
• Cybersecurity Training and Phishing Tests: Interactive training modules and real-world simulation tests, bolstered by compliance documentation to fortify staff readiness.
• Vendor Due Diligence: A systematic approach to evaluating and monitoring third-party vendors to safeguard sensitive data.
• Employee Access to Data and Incident Reporting and Tracking: Tools to manage employee access, bolster incident reporting mechanisms, and facilitate swift responses to potential threats.
• IT, Device, and Cloud Surveillance and Reporting: Comprehensive surveillance of IT infrastructure, devices, and cloud systems, delivered by CybersecurRIA to be reportable within Smartria.

“Securing sensitive information and maintaining cybersecurity has never been more critical in today’s fast-evolving landscape,” said Jonathan Addington, President of CyberSecureRIA. “We founded CyberSecureRIA to secure and support RIAs, and we’re thrilled to partner with Smartria to help enhance cybersecurity and compliance protection for more advisors and their clients.”

Smartria’s commitment to addressing the core tenets of compliance for RIAs extends beyond Cybersecurity Focus. The company’s visionary approach seeks to furnish RIAs and hybrid RIAs with comprehensive solutions that span the entirety of compliance management, with cybersecurity compliance as a much-needed new pivotal cornerstone to reducing risk for RIAs and their clients.

Cybersecurity Focus is available as a full package for $399/month, with individual components able to be purchased separately

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The Saifr team will be exhibiting to showcase its solutions that help transform the compliance process while mitigating many of the challenges that come with it. Saifr helps reduce the friction in creating, reviewing, approving, and filing compliant communications, enabling teams to produce better, more compliant content up to 10 times faster.

Saifr’s CEO and Co-Founder, Vall Herard, will share his experiences on a panel titled “How Can AI and Automation Advances Be Used to Reshape the Compliance Function?” He will be joined by thought leaders from Standard Chartered Bank, Societe Generale, and BNY Mellon. “I look forward to sharing views on implementing and validating AI as well as discussing what the future of the regulatory landscape of AI might hold,” said Herard.

SaifrReview® is an intuitive, innovative SaaS workflow that simplifies the development and approval of public communications containing text, images, video, and audio. SaifrScan® add-ins allow customers to use Saifr’s advanced AI models to conduct compliance and brand scans of marketing communications directly within their current business software.

Fintech Global’s Global RegTech Summit USA event is the largest in-person gathering of RegTech leaders and innovators in the United States. Attendees engage with leading financial institutions, hear from experts, and explore the opportunities and challenges that define compliance today.

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“I am deeply honored to be recognized as one of HousingWire’s Insiders for 2023,” said David Greenwood. “At Asurity, we are committed to driving meaningful innovation in the mortgage industry. This recognition is a reflection of our team’s collective dedication to delivering technology solutions that address the evolving needs of lenders in an ever-changing regulatory environment.”

As CTO over the past 6 years, David has spearheaded Asurity’s technology focus – cloud infrastructure, information security, and software development – and has been central to the system design and build of Asurity’s intuitive, interoperable, and flexible loan documentation solution, Propel. In addition, David plays a pivotal role in defining all aspects of Asurity’s technology vision, strategy, and execution, ensuring its innovative compliance solutions meet rigorous standards for quality, security, and resiliency.

“We are thrilled to see Dr. Greenwood receive this well-deserved recognition,” said Luke Wimer, Chief Operating Officer at Asurity. “David’s vision and technical expertise have been instrumental in elevating Asurity to the forefront of mortgage technology innovation. We are proud to have him as a key member of our executive leadership team.”

For over 25 years David has been at the forefront of information technology in fintech services. Prior to Asurity, David served as Chief Information Officer at Promontory Financial Group, where he had executive leadership over corporate information systems and business applications. David was also a Managing Director, Technology, in the U.S. tax business of PricewaterhouseCoopers, with a focus on leveraging new technology to deliver innovative products and services. Prior to PwC, David was a senior technology leader and business line CIO at Genworth Financial. He previously served as the Vice President of Architecture and Engineering at Federal Reserve Information Technology, leading a portfolio of application and infrastructure initiatives aimed at modernizing the U.S. payment system. He began his career at IBM, where he held a number of senior management and technology leadership positions.

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During this highly uncertain and inflationary period, organizations are turning to Procurement for critical cost reductions, stronger supplier relationships, and reliability of supply all while pushing forward on innovation and sustainability efforts.

P2P suites are a key component of delivering on such initiatives as they optimize the purchasing and payables process, support improved financial controls and compliance, drive cost savings, and mitigate third-party risk. They can also improve sustainability by guiding users to lower carbon products, improve traceability and accountability, and help improve supplier relationships with timely invoice and payment processing.

“We started by deploying standard out-of-the-box functionality in Ivalua with a focus on achieving early and quick wins. We then reviewed our entire process by applying lean management principles and embedding stakeholders’ feedback”, said Yannick Caharel, Global CPO at BVLGARI. “The flexibility of Ivalua’s platform allowed us to evolve with the organization’s needs, which accelerated adoption and generated further efficiencies and cost optimization.”

“Ivalua is proud to once again be recognized by Gartner as a Leader in Procure-to-Pay,” said David Khuat-Duy, Founder and CEO of Ivalua. “Our focus on closely innovating together with our customers and partner ecosystem allows us to implement best practices tailored for unique industries and provide an optimized user and supplier experience. I’d like to thank our teams, our customers, and our partners.”

Read a complimentary copy of the full October 2022 report to get an up-to-date view of the market and vendor offerings.

Gartner, Magic Quadrant for Procure-to-Pay Suites, Micky Keck, Lynne Phelan, Balaji Abbabatulla, Patrick Connaughton, 28 November 2022.

GARTNER and Magic Quadrant are registered trademarks and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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“We are excited to partner with Estancia on this next stage of our journey,” says David Reeve, Founder & CEO of InvestorCOM, “as we continue to grow our platform and expand our distribution. I am confident that our combined knowledge and resources will yield greater capabilities for our clients.” Mr. Reeve went on to say that “InvestorCOM’s experienced management team will remain in place and continue to support InvestorCOM’s strong client service model.”

“InvestorCOM has a legacy of providing compliant communications solutions. Estancia is pleased to partner with David and his leadership team to accelerate InvestorCOM’s growth trajectory, including its comprehensive solutions addressing Regulation Best Interest, often referred to as ‘Reg BI’, as well as PTE 2020-02 [Prohibited Transaction Exemption 2020-02],” says Takashi Moriuchi, Co-Founder and Managing Director at Estancia. “We spent considerable time listening to InvestorCOM’s management team and believe in their strategic vision to expand the firm’s software-enabled compliance platform. We look forward to partnering with InvestorCOM and providing strategic, operational and distribution value-added advice.”

InvestorCOM developed its compliance platform to support wealth management firms and advisors in meeting the best interest principles set out by securities regulators across North America. These capabilities include evaluating and monitoring the competitive health of a firm’s product offering, supporting advisor’s assessment of investment alternatives and ensuring all transactions are digitally captured and disclosed.

“Together with Estancia, we have even more opportunity to accelerate growth and innovation across our product suite,” explains Parham Nasseri, InvestorCOM’s Head of Product & Regulatory Strategy, whose team will continue to be integrally involved in driving the company forward. Mr. Nasseri also stated, “We believe that this transaction is a compelling opportunity for InvestorCOM to further augment and expand our client solutions, infrastructure, personnel, product development, and service models.”

DC Advisory served as exclusive financial advisor and Gowling WLG as legal counsel to InvestorCOM. Kirkland & Ellis LLP and Stikeman Elliot LLP served as legal advisors to Estancia.

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“Since Drata’s founding, we have worked with AWS, from technology support to go-to-market positioning,” said Kevin Kriebel, VP of Business Development at Drata. “By joining the AWS ISV Accelerate Program, we strengthen our commitment to our customers as we work together to promote compliance automation and technology infrastructure as well as simplified transactions in AWS Marketplace.”

Drata’s membership in the AWS ISV Accelerate Program validates Drata as a leading solution provider that offers differentiated value for AWS customers. Through this program, Drata and AWS have aligned to provide exceptional outcomes to AWS customers in further streamlining their ability to automate and monitor their security posture through the lens of risk and compliance.

The AWS ISV Accelerate Program provides Drata with co-sell support and benefits to meet customer needs through collaboration with AWS field sellers globally. Co-selling provides better customer outcomes and assures mutual commitment from AWS and Drata.

In addition to the ISV Accelerate Program, Drata has also passed an AWS Foundational Technical Review (FTR), adhering to best practices to reduce risks around security, reliability, and operational excellence outlined by the AWS Well-Architected Framework. Passing the AWS FTR gives customers peace of mind in knowing Drata takes a holistic approach to its cloud security posture to proactively identify and resolve potential vulnerabilities.

Connecting AWS to Drata offers continuous monitoring on AWS through automated daily testing and evidence collection to validate the compliance posture of an organization’s AWS footprint for frameworks, standards, and regulations such as SOC 2, ISO 27001, PCI DSS, and several others. Additionally, Drata continuously discovers and imports all AWS virtual assets to streamline the asset collection and categorization process, helping to eliminate burdensome manual processes. This allows auditors to review in-scope assets without the need for end-user intervention.

“Using both Drata and AWS hand-in-hand has made our journey to becoming SOC 2 Type 2 compliant painless,” said Adam Ilowite, CEO at Axero Solutions. “These platforms work together and have helped our organization improve our security protocols, and add automated control monitoring. It’s taken the headache out of our continuous compliance efforts.”

Drata’s offerings are available in AWS Marketplace, where customers can identify and deploy third-party software. For more information, please visit Drata in AWS Marketplace or Trusted, the Drata blog.

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The Regulation Asia award category recognizes solutions that can conduct real-time surveillance and monitor trading behavior and patterns for common abusive practices in cryptocurrency markets, such as manipulation, spoofing, quote stuffing, insider trading and wash trading. Validus is the trade surveillance platform for a wide range of digital asset exchanges throughout the world, including multiple cryptocurrency exchanges throughout APAC and Canada.

“The convenience of having surveillance, anti-money laundering (AML), transaction monitoring and risk monitoring capabilities within a single platform is a game changer for crypto markets,” said one judge on the Regulation Asia awards panel. “Eventus is rapidly expanding in APAC, even in markets where regulatory obligations on crypto market risk monitoring are not yet in place. This is helping to legitimize the industry, particularly at a time when it is suffering a crisis of confidence.”

Eventus CEO Travis Schwab said: “We are deeply honored to again receive recognition from such highly respected organizations as Regulation Asia and the Canadian RegTech Association. An important part of our role is to make sure we collaborate with clients and make Validus relevant to the regulatory jurisdictions in which they do business. To that end, we’ve grown our regulatory affairs division significantly and ensured we have people on the ground to support our clients as needed. We have worked diligently to help clients in all asset classes – including the emerging digital asset space – monitor for potentially problematic behavior and be able to respond to regulatory inquiries in a transparent and holistic manner.”

APAC is Eventus’ fastest-growing region, now representing 25% of its client base, with staff on the ground in Hong Kong, Singapore, Australia and the Republic of Korea. The latest award is the company’s sixth for its activities in the region. In 2021, Eventus won the Regulation Asia Award for Excellence for Best Solution: Payments, Markets & Infrastructure: Market Abuse & Surveillance. The Regulation Asia Awards for Excellence recognize financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.

Last year, the Canadian RegTech Awards recognized Validus for Best Market Conduct Solution in its inaugural award program following review by its independent judges. Hosted by the Canadian Regulatory Technology Association in partnership with Ernst & Young (EY), the awards are designed to recognize significant achievement and innovation in the advancement of Regulatory Technology solutions to meet and improve regulatory compliance and oversight in Canada. Eventus now has staff located in three Canadian provinces.

Eventus’ real-time trade surveillance and market risk platform helps firms quickly identify potential abusive behavior in equities, listed derivatives, foreign exchange, fixed income and digital asset markets. Validus employs machine learning and advanced analytics to automate anomaly detection and pattern analysis, providing actionable alerts to help firms guard against regulatory, legal and operational risks. Validus is connected to more than 100 marketplaces and trading venues globally and can ingest billions of messages per day per client in any format, in real-time, 24×7.

Since 2018, Eventus has earned more than 30 awards and honors for its technology, expertise and service.

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