SEI (NASDAQ:SEIC) today announced that five participants joined Codify, its London-based RegTech incubator.
This newest group of companies has been selected based on their ambition to tackle technology solutions that address various compliance challenges in the financial services industry.
The selected firms include:
• Analytic Risk Technology (ART) builds stress-testing technology for banks, intermediaries and regulators. Its technology analyses and controls the results of thousands of pieces of data for complex capital requirements.
• Cognitiv+ specialises in automated technology, utilizing deep learning and natural language for the analysis and management of contractual obligations.
• CoVi Analytics uses artificial intelligence to help banks, insurers and intermediaries simplify their assessments of complex regulations.
• Kormoon develops software designed to help firms’ manage the complexities of rules governing data privacy and protection by automating the decision-making process. Its current focus is the General Data Protection Regulation (GDPR) implementation.
• RISE Financial Technologies offers distributed-ledger technology-based solutions to optimise the post-trading activity of traditional asset classes. RISE also develops custody and servicing solutions to make crypto-assets compliant and compatible with existing investment processes.
Commenting on the group of participants, Ahsan Mallick, General Counsel at SEI U.K. and executive sponsor of Codify, said:
“Over the past year, we have seen a growing number of start-ups experimenting with technology to help manage regulations. We have enjoyed being a part of this, collectively testing ways to modernise compliance methods and standards. We look forward to serving as mentors to these young businesses, fostering their growth, and learning new ways to integrate next-generation technology into our industry.”
Codify, which launched last April, provides participants business resources and development opportunities, including 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.*
Applications are now open for entrants to join Codify in second-quarter 2018.
*SEI makes no commitment to invest or take equity from entrants.