Dice, a regtech firm specializing in regulatory intelligence, introduced on Wednesday that it acquired The Hub, a supplier of synthetic intelligence (AI ) options for regulatory know-how. The phrases of the transaction weren’t disclosed.
In accordance with the press launch, CUBE intends to merge the know-how supplied by The Hub with its proprietary RegPlatform platform. It’ll scale back compliance prices and dangers and supply customers with extra capabilities to automate compliance processes.
“The acquisition of The Hub marks the primary in what is predicted to be a lot of purposeful acquisitions for CUBE as a consolidator of regulatory compliance centered corporations and applied sciences in what’s a extremely fragmented RegTech market. The Hub’s workforce and options are finest at school and signify many synergies with CUBE’s personal capabilities,” Ben Richmond, the Founder and CEO of Dice, stated.
Each CUBE and TheHub function within the regtech trade. Established in 2008, CUBE presents its clients Automated Regulatory Intelligence (ARI) options, overlaying 180 jurisdictions and 60 completely different languages. Nevertheless, The Hub has been in the marketplace since 2015 and supplies AI-based community monitoring and information storage options to help regulatory necessities.
The Hub’s Co-Founder and CEO, Juned Jable, admits that the 2 corporations have been working collectively for a while, and he sees the acquisition as a pure step ahead to develop AI-based regulatory know-how collectively.
The acquisition comes after CUBE acquired funding from Bregal Milestone to help additional improvement and growth into new markets.
RegTech Business Is Booming
Within the more and more crowded fintech area, regtech seems to be a distinct segment presenting strong progress potential. In 2022, the trade grew to $9.88 billion at a compound annual progress charge (CAGR) of 25.1%. By 2026, analysts count on the worldwide regtech market to be price $23.7 billion at a CAGR of 24.5%.
One of many most important explanation why the trade is so well-liked is the flexibility to make use of synthetic intelligence and machine studying successfully. As the instance of CUBE and The Hub described above exhibits, many regtech corporations depend on these superior applied sciences to automate their processes.
In December, Finance Magnates reported that TAINA, a London-headquartered regulatory know-how firm based in 2016, secured an undisclosed sum from returning traders of Deutsche Financial institution CVS and HSB Asset Administration. Just a few months earlier, SteelEye, one other distinguished regtech agency, confirmed a profitable Collection B funding spherical, elevating $21 million to develop its presence in new markets.
In the meantime, a report ready by IHS Markit final Might confirmed that corporations desire to outsource regulatory processes to specialised regtech corporations somewhat than deal with them themselves.
Dice, a regtech firm specializing in regulatory intelligence, introduced on Wednesday that it acquired The Hub, a supplier of synthetic intelligence (AI ) options for regulatory know-how. The phrases of the transaction weren’t disclosed.
In accordance with the press launch, CUBE intends to merge the know-how supplied by The Hub with its proprietary RegPlatform platform. It’ll scale back compliance prices and dangers and supply customers with extra capabilities to automate compliance processes.
“The acquisition of The Hub marks the primary in what is predicted to be a lot of purposeful acquisitions for CUBE as a consolidator of regulatory compliance centered corporations and applied sciences in what’s a extremely fragmented RegTech market. The Hub’s workforce and options are finest at school and signify many synergies with CUBE’s personal capabilities,” Ben Richmond, the Founder and CEO of Dice, stated.
Each CUBE and TheHub function within the regtech trade. Established in 2008, CUBE presents its clients Automated Regulatory Intelligence (ARI) options, overlaying 180 jurisdictions and 60 completely different languages. Nevertheless, The Hub has been in the marketplace since 2015 and supplies AI-based community monitoring and information storage options to help regulatory necessities.
The Hub’s Co-Founder and CEO, Juned Jable, admits that the 2 corporations have been working collectively for a while, and he sees the acquisition as a pure step ahead to develop AI-based regulatory know-how collectively.
The acquisition comes after CUBE acquired funding from Bregal Milestone to help additional improvement and growth into new markets.
RegTech Business Is Booming
Within the more and more crowded fintech area, regtech seems to be a distinct segment presenting strong progress potential. In 2022, the trade grew to $9.88 billion at a compound annual progress charge (CAGR) of 25.1%. By 2026, analysts count on the worldwide regtech market to be price $23.7 billion at a CAGR of 24.5%.
One of many most important explanation why the trade is so well-liked is the flexibility to make use of synthetic intelligence and machine studying successfully. As the instance of CUBE and The Hub described above exhibits, many regtech corporations depend on these superior applied sciences to automate their processes.
In December, Finance Magnates reported that TAINA, a London-headquartered regulatory know-how firm based in 2016, secured an undisclosed sum from returning traders of Deutsche Financial institution CVS and HSB Asset Administration. Just a few months earlier, SteelEye, one other distinguished regtech agency, confirmed a profitable Collection B funding spherical, elevating $21 million to develop its presence in new markets.
In the meantime, a report ready by IHS Markit final Might confirmed that corporations desire to outsource regulatory processes to specialised regtech corporations somewhat than deal with them themselves.
