FCG today announces the acquisition of Reg&Tech Solutions AB (Reg&Tech), a software technology provider of Big Data analytics and automation solutions to the financial services industry.
FCG has a decade long track record of providing new and customer centered services to clients in the finance and insurance sector, and is now adding new capabilities to enhance and expand is offering even further.
“Financial services and insurance companies generate and consume a rapidly growing amount of data in their daily businesses” says Per Andersson, CEO of Reg&Tech. “Our technology combined with FCG’s indepth expertise and analytical competence will give our clients new actionable insights to fuel their business and at the same time comply with current and coming regulations.”
FCG Group CEO Kristian Bentzer sees the synergies between regulation and technology as a vital part of the future of the financial industry: “Through the acquisition of Reg&Tech, FCG takes a decisive step in our strategy to provide efficient data-driven solutions by adding new capabilities to our client offering. By complementing our already strong expertise in the financial sector with the software development capabilities we now gain access to, FCG becomes an even stronger partner to all our customers.”
Given the depth and breadth of competencies required to ensure internal control and compliance with financial regulations, many financial institutions, both small and large, are increasingly seeking external support from specialist service providers. With Reg&Tech’s platforms DeepSea and Layla, FCG can assist clients in analyzing transactions and business records to extract valuable insights. By leveraging Big Data, Machine Learning and Deep Learning, companies can act and manage their business based on customer sefficiently in accordance with applicable regulations.
“This acquisition is an important step to achieve FCG’s ambition to combine market leading experts within the risk and compliance arena with a strong suite of software solutions to further strengthen our value proposition to customers”, says FCG Chairman Liselotte Engstam.
Contributed |what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.