CUBE Extends AI Regtech Capabilities, Acquires The Hub

According to the press release, CUBE intends to merge the technology offered by The Hub with its proprietary RegPlatform platform. It will reduce compliance costs and risks and provide consumers with additional capabilities to automate compliance processes.

“The acquisition of The Hub marks the first in what is expected to be a number of purposeful acquisitions for CUBE as a consolidator of regulatory compliance focused firms and technologies in what is a highly fragmented RegTech market. The Hub’s team and solutions are best in class and represent many synergies with CUBE’s own capabilities,” Ben Richmond, the Founder and CEO of Cube, said.

Both CUBE and TheHub operate in the regtech industry. Established in 2008, CUBE offers its customers Automated Regulatory Intelligence (ARI) solutions, covering 180 jurisdictions and 60 different languages. However, The Hub has been on the market since 2015 and provides AI-based network monitoring and data storage solutions to support regulatory requirements.

The Hub’s Co-Founder and CEO, Juned Jable, admits that the two companies have been working together for some time, and he sees the acquisition as a natural step forward to develop AI-based regulatory technology together.

The acquisition comes after CUBE received funding from Bregal Milestone to support further development and expansion into new markets.

RegTech Industry Is Booming

In the increasingly crowded fintech
Fintech

Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices.

Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices.
Read this Term space, regtech appears to be a niche presenting solid growth potential. In 2022, the industry grew to $9.88 billion at a compound annual growth rate (CAGR) of 25.1%. By 2026, analysts expect the global regtech market to be worth $23.7 billion at a CAGR of 24.5%.