Belgian regtech Harmoney has acquired compliance specialist APPC, a subsidiary of the Forsides Group.
The acquisition will present APPC shoppers with a broader vary of instruments to struggle challenges starting from anti-money laundering (AML) to counter-terrorism financing (CTF).
Harmoney made its Finovate debut at FinovateEurope 2022 in London.
Belgium-based regtech Harmoney introduced its acquisition of APPC, the compliance-oriented subsidiary of the Forsides Group. The acquisition will allow Harmoney to supply a streamlined, all-in-one compliance resolution to monetary establishments (FIs), integrating all regulatory operations on a single platform and empowering FIs to take care of compliance with the ever-changing regulatory setting.
The acquisition comes after 5 years of collaboration between Harmoney and the APPC workforce. This collaboration has yielded versatile, personalized options to assist FIs take care of challenges starting from anti-money laundering (AML) to counter-terrorist financing (CTF). Put up-acquisition, the APPC model will stay intact; its providers shall be enhanced and expanded through Harmoney’s choices. This can present APPC shoppers with entry to a fair broader vary of compliance options. APPC shoppers may also profit from the experience of the Harmoney workforce which provides a cost-efficient strategy to compliance and complete protection to complicated company buildings.
“Our long-standing partnership with APPC has paved the best way for this thrilling new chapter,” Harmoney CEO Thomas Van Maele stated. “By integrating all regulatory processes onto a single platform, we’re capable of merge superior know-how with professional assist from two professional groups that share the identical values and dedication to compliance.”
Based in 2016, Harmoney made its Finovate debut at FinovateEurope 2022 in London. On the convention, the corporate demonstrated the workflow orchestration of a digital reboarding of a non-public buyer. The workflow consists of identification, authentication, and danger screening that gives an total danger rating that allows compliance groups to conduct due diligence and, finally, decide acceptance, escalation, or rejection.
This summer season, Harmoney introduced that it was teaming up with Discai, a subsidiary of KBC Group, which leverages information science and monetary experience to assist banks and different monetary establishments fight monetary crime. The 2 corporations launched an built-in AML resolution for FIs that mixes Discai’s AI-based alert system with Harmoney’s end-to-end case and course of administration platform. Additionally this 12 months, Belgian banking options collaborative Isabel Group introduced that Harmoney can be the primary integration companion for its newly launched verified company information hub.
Harmoney has raised $5.3 million (€6 million) in funding in accordance with Crunchbase, courtesy of a seed spherical in 2023.
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Picture by Barb Duggan
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