By Oliver Smith on Monday 22 November 2021
It’s not easy keeping compliant when you’re a global super app.
Remaining compliant with a plethora of financial regulations across dozens of markets and product verticals is no easy challenge.
Revolut says that’s why it’s engaged the services of regtech Cube, a firm dedicated to ‘regulatory intelligence’ i.e. keeping an eye on the entire regulatory landscape in real time.
Cube says it will help Revolut to monitor every issuing body in every jurisdiction it operates in, notifying the company of all regulatory announcements or updates.
“Revolut has grown at an incredible pace, and made the banking industry sit up and take notice,” said Cube’s CEO and founder Ben Richmond.
“Being selected by a trailblazer such as Revolut, to help them build out their compliance architecture, is phenomenal. We are delighted to be working with such an innovative company, and look forward to continuing to work together in the years to come.”
Cube has spent a decade building its tech to help firms like Deutsche Bank, HSBC, Zurich and PwC to monitor for regulatory change.
The firm also claims to have AI which monitors and anticipates future regulatory trends and frameworks that can allow its customers to mitigate risk in the jurisdictions they operate in.
Harry Gill, Revolut’s group head of regulatory compliance, said the partnership would enable “Revolut to grow at pace whilst keeping up with the ever-evolving regulatory landscape.”
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