CUBE has partnered with Sionic to accelerate regulatory compliance

By Joy Dumasia

CUBE has 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, impacting 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 still need to discern which is relevant to them.

The combination of CUBE & Sionic will ensure that clients have up-to-date regulatory obligations 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, said: “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, said: “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.”

Recently, IBS Intelligence reported that PwC Switzerland, PwC UK and CUBE have revealed a collaboration that will see the organizations work together to transform the world of financial compliance by combining PwC‘s expertise in regulatory compliance with a leading RegTech platform.