Tag: automation

With the ever-emerging organizational risks, boards are constantly on the lookout for ways to mitigate threats. These include areas like ESG, cyber resilience, human capital management, and even the personal liability of directors.

Flagright recently detailed how financial industry companies can manage third-party risks in compliance solutions.

In an era of growing operational costs, it has become a pressing necessity for banks to embrace efficient Know Your Customer (KYC) practices. The global spend on regulatory technology (RegTech) is predicted to ascend to $207bn by 2028, a forecast that urges banks to channel their investment into automating their manual KYC processes.

1Fort, an innovative cyber insurance automation platform, has recently achieved a significant financial milestone. The firm, which aims to streamline the cyber insurance procurement process for middle to large businesses and insurance brokers, has secured $2m in pre-seed funding.

The financial sector has for long been bogged down by manual processes in adhering to regulatory standards. The spotlight now shifts towards embracing technology, particularly in Know Your Customer (KYC) operations. Fenergo has outlined the opportunities for KYC compliance automation.

Evaluating the business line of potential clients is a key part of Know Your Customer (KYC) procedures in commercial relationships. However, analysts often spend substantial time utilising search engines and other manual processes to establish a client's Line of Business. This allows them to assess the risk involved in onboarding records or transactions.

Scrut Automation, a governance, risk and compliance automation platform, has netted $7.5m in a new round of funding.

BoostSecurity, a developer-first DevSecOps automation platform, has secured $12m for its seed round, as it emerges from stealth.

Continuous compliance automation software platform RegScale has closed its Series A round on $20m.

Automated machine identity management platform AppViewX has secured $20m in its Series B round.