SEI has added a new group of startups to Codify, its London-based RegTech incubator.
The incubator, which launched last year, looks to address technology solutions that tackle various challenges in the financial services industry. The firms selected as the latest wave of Codify participants include AllStreet, KiteEdge, KyoLab, Lodestar Ecosystems and Waymark.
AllStreet is provider of independent investment research on private and listed small-cap and investment vehicles, while KiteEdge utilises an enterprise search platform for the asset management industry to find, collaborate and leverage content across complex organisations.
KyoLab aims to ‘bridge the gap’ between regulatory compliance and mobile messaging for regulated financial services companies by enabling audit trails and dispute resolution for digital communications applications.
Waymark uses artificial intelligence to help legal and compliance teams automatically and continually track, identify and analyse regulatory requirements, while Lodestar Ecosystems specialises in building robo-assistants for asset managers, traders and brokers.
Ahsan Mallick, general counsel at SEI UK and executive sponsor of Codify, said: “We are pleased to be working with Codify participants to test emerging technologies across SEI. These projects create opportunities to effectively analyse the latest, leading tech trends, with a view toward helping our clients reduce their development burdens and operating risks.”
SEI is working with the Seismic Foundry, a venture fund focused on early-stage capital market FinTechs, to help identify and recommend potential Codify participants.
Codify provides participants with office space, mentors, access to a network of partners and customers, and the chance to formally pitch their technology solution(s) for potential investment and/or equity opportunities consideration.
Back in February, Codify expanded by bringing in five new participants, selected based on their ambition to tackle technology solutions that address various compliance challenges’ in the financial services industry according to the firm. SEI selected Analytic Risk Technology (ART), Kormoon, Rise Financial Technologies, Cognitiv+ and RegTech 100 company Covi Analytics for the incubator.
Vasilis Tsolis, CEO of Cognitiv+, said: “Wealth and asset managers are under continuous pressure to minimize costs and comply with numerous regulations. SEI’s insight into the needs of the financial services market, as well as their understanding of industry-wide contractual and regulatory requirements, enables us to develop algorithms that identify risks and opportunities across multiple agreements. We are excited to work alongside SEI to continue technology’s evolution in the legal landscape.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
