Press Release

Singapore-based RegTech Start-up RegTank Secures $2M in seed funding

Published

3 years ago

January 4, 2021

Singapore-based RegTech solution RegTank announced that it secured a $2M in funding from tech investors SuperChain Capital and IPB Capital. This is one of the largest seed funding rounds for RegTech companies in Asia. Founded by seasoned industry experts in 2020, RegTank will be using the funding to enhance its SaaS platform and deepen research into its patent-pending intelligent AML risk engine.

With the fast-changing regulatory landscape for Fintechs and financial institutions, RegTank provides an innovative risk-based approach (RBA) compliance solution integrating Know Your Customer (KYC) and Know Your Transactions (KYT) to provide a 360° risk profile by leveraging a smart risk assessment engine. KYC and KYT are combined into a single consolidated platform to offer the ultimate AML/CFT compliance solution. For an overview analysis of the individual’s risk level, a 360-degree risk profile of the clients are generated tracking risk across different transactions and over time. Lastly, firms can customize the smart risk assessment engine according to their business rules and enable automated workflow such as scoring and re-screening.

Building Asia’s Regtech infrastructure

Regtech helps with the management of regulatory processes within the financial industry. As compliance gets more complicated and complex due to the ever-changing regulatory landscape, there has been a surging demand for Regtech technologies. Quoting from the New RegTech Adoption Survey 2019 by RegTech firm Cube, 75% of financial institutions admit that their current processes and technology are hindering efforts to manage regulatory change effectively. For companies dealing with Virtual Assets, compliance teams often struggle with lean resources and fragmented systems aside looming regulatory pressures and security breaches. Therefore, one of the reasons for the rise of regtech adoption is because these innovative technologies can essentially replace the existing manual compliance process of many companies’ at a more efficient rate and even at a lower cost.

With the Global RegTech industry expected to hit USD$55.28B by 2025, RegTank is poised to capture a slice of the market share through developing cutting edge technologies. The future and sustainability of regtech firms are said to lie in data optimization. Given how fast the regulatory industry changes with new technologies and innovation, Regtech firms will need to be nimble and flexible to be ready to adopt breakthrough technologies to keep pace with such demands. Besides, Regtech companies will need to be proactive to ensure that their solution is up-to-date. It is said that Regtech firms that leverage on data analytics, AI and machine learning will have an advantage as analysis of the large volume of data to react to market changes remain and will be critical especially in the regulatory space.

“We believe that an integrated solution with an intelligent risk system can help clients improve efficiency and increase agility to comply with newer regulations. With this funding, we can double down on our efforts to achieve our mission of making Compliance easy.” – Megan Li, CEO of RegTank. RegTank is currently in the alpha stage with a couple of trial clients and will be officially launching beta soon into the market.

Reference

Singapore-based open finance startup Finantier gets backing from Y Combinator

With the fast-changing regulatory landscape for Fintechs and financial institutions, RegTank provides a risk-based approach (RBA) compliance solution integrating KYC and KYT to provide a 360° risk profile by leveraging on a patent-pending smart risk assessment engine.

KYC and KYT are combined into a single consolidated platform to offer the ultimate AML/CFT compliance solution. For an overview analysis of the individual’s risk level, a 360-degree risk profile with risk score tagged to every client is incorporated into RegTank’s solution. Lastly, using the risk-based approach, different processes are implemented after clients are categorized into different risk levels to optimize efficiency.

Regtech helps with the management of regulatory processes within the financial industry. As compliance gets more complicated and complex due to the ever-changing regulatory landscape, there has been a surging demand for regtech technologies. Quoting from a survey done on financial institutions, 75% of them admit that their current processes and technology are hindering efforts to manage regulatory change effectively. Therefore, one of the reasons for regtech adoption is because these innovative technologies can essentially replace the existing manual compliance process of many companies’ at a more efficient rate and even at a lower cost.

According to Deloitte, the 5 main categories of Regtech are

Compliance
Identity Management and Control
Risk Management
Regulatory Reporting
Transaction Monitoring

Currently, more companies are concentrated in the compliance landscape. The future and sustainability of regtech firms are said to lie in data optimization. Given how fast the regulatory industry changes with new technologies and innovation, regtech firms will need to be nimble and flexible to be ready to adopt cutting edge technologies to keep pace with such demands. Besides, Regtech companies will need to be proactive to ensure that their solution is up-to-date. It is said that Regtech firms that leverage on data analytics, AI and machine learning will have an advantage as analysis of the large volume of data to react to market changes remain and will be critical especially in the regulatory space.

About Author

Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Press Release

The UK small cap re-rating opportunity – VT Downing Small & Mid-Cap Income Fund

Published

41 mins ago

April 24, 2024

Cloud PR Wire

–News Direct–

Josh McCathie, lead fund manager of the VT Downing Small & Mid-Cap Income Fund, tells Proactive's Stephen Gunnion he is optimistic about current market conditions, particularly in the UK.

McCathie noted that challenges such as inflation and interest rates are subsiding, potentially shifting to support the market. He highlighted the significant opportunity in the UK's small and mid-cap sectors, citing that the FTSE 250 is trading at a 22% discount compared to its long-term average and at a steep discount relative to the FTSE 100a scenario seen only twice in the past 20 years, historically followed by strong performance in small and mid-cap stocks.

McCathie acknowledged threats from geopolitical tensions but emphasized the greater potential returns in the small and mid-cap space, pointing to expected earnings growth and dividend returns. He differentiated the VT Downing Small & Mid Cap Income Fund by its exclusive focus on small and mid-cap stocks, contrasting with other funds that focus on larger caps. He also discussed the overlooked dividend potential in smaller companies, suggesting that despite being perceived as growth-focused, they offer substantial dividend opportunities.

Celebrating three years as the lead manager, McCathie reviewed the fund's performance, noting significant outperformance relative to other small-cap mandates and overall positive results despite some challenges in 2023. He advocated for investing in UK equity markets, citing the potential for strong returns and robust dividend yields as reasons for optimism.

Contact Details

Proactive UK

Proactive UK

+44 20 7989 0813

[email protected]

View source version on newsdirect.com: https://newsdirect.com/news/the-uk-small-cap-re-rating-opportunity-vt-downing-small-and-mid-cap-income-fund-764593393

Downing LLP

COMTEX_451344751/2655/2024-04-24T11:05:24

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Press Release

The Future of Sustainable Crypto Mining on Solana?

Published

41 mins ago

April 24, 2024

Cloud PR Wire

Baked Beans on Solana is set to launch a groundbreaking presale for the Baked Beans Token on April 23rd via Pinksale.

This token is the cornerstone of an innovative ecosystem that combines high-yield mining with sustainable and gamified features. With a strong focus on community-driven governance, long-term sustainability, and unique engagement methods, Baked Beans on Solana is positioned to become a leading name in the crypto space.

Ecosystem Overview

The Baked Beans ecosystem centers around several key elements: The Baked Beans High-Yield ROI Miner, The Baked Beans Store, Baked Beans Mini-Games, and The Baked Beans Token.

These features are designed to create an interactive, profitable, and sustainable environment for investors.

High-Yield Miner: The Baked Beans Miner offers daily compounding interest, with an APR of up to 4.9%. Users can “re-bake” to compound their returns, maximizing their earnings over time.
Baked Beans Store: The store allows investors to use Baked Beans Tokens to purchase items like Buffs (temporary APR boosts), Gems (permanent APR increases), and other powerful upgrades.
Mini-Games: These daily games give users a chance to win additional rewards like more tokens, buffs, gems, or even a doubled mining output.

Sustainability and Governance

Sustainability is a top priority for Baked Beans on Solana. To maintain a stable and sustainable ecosystem, the platform incorporates a debuff system. These debuffs are mechanisms that can be applied globally or locally to help control inflation and ensure stability in the miner. They can reduce ROI to manage excess profits and promote a healthier economic balance within the ecosystem.

The project also uses buy-back and burn strategies funded by miner fees, reducing token supply and stabilizing market prices. Community governance ensures all major decisions are made through a democratic voting process, allowing users to have a voice in the project’s direction.

Why Join the Presale?

High-Yield Returns: The Baked Beans Miner offers substantial daily returns, made even more lucrative through daily compounding.
Debuffs for Sustainability: These unique mechanisms ensure the miner remains balanced and sustainable, even during high yields.
Gamification and Interaction: The platform features engaging mini-games and unique store upgrades purchasable with Baked Beans Tokens.
Community Governance: All major decisions are made via community voting, promoting a sense of ownership and trust.
Strong Partnerships: With key partners like Coinbound, CryptoVirally, DexView, and Pinksale, the project has a solid foundation.
Security and Compliance: The team is KYC’d, and audited for safety and transparency.

Don’t miss this opportunity to be part of the next big thing in the crypto world. Join the Baked Beans Token Presale on April 23rd and Bake Your Future, Today!

*The Baked Beans on Solana Ecosystem including The Baked Beans Token and The Baked Beans ROI Miner are not associated to or affiliated in any shape or form with the Bakehouse Baked Beans Miner on the Binance Blockchain.

Website: https://www.bakedbeans.com/

Telegram: https://t.me/Bakedbeanstoken

Discord: https://discord.gg/pYc5r7h7

LinkTree: https://linktr.ee/bakedbeanssolana

Contact Email: [email protected]

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Press Release

Ilika chief executive Graeme Purdy discusses 2024 revenue growth and strategic milestones

Published

41 mins ago

April 24, 2024

Cloud PR Wire

–News Direct–

Ilika PLC (AIM:IKA, OTCQX:ILIKF) chief executive Graeme Purdy discusses a trading update and the latest company milestones with Proactive's Stephen Gunnion.

Purdy highlighted that Ilika's financial performance for the year ending in April is expected to be in line with projections, noting a significant revenue increase from 0.8 million the previous year to approximately 2 million. This growth is largely attributed to grant support for their Goliath development programme. He provided an update on the Goliath batteries, mentioning that they had reached a milestone in late 2023, which allowed them to start producing P1 prototypes for external evaluation. These prototypes are currently being tested, with results expected to be shared with partners soon.

Additionally, Purdy touched on achieving lithium ion parity with their Goliath batteries, marking a significant technological advancement. He also discussed the progress with their Stereax product following a tech transfer and licence agreement with Cirtec in the USA, which is moving forward with the initial production line installed and operational.

Purdy said investors can participate in a Q&A session with Ilika on 26 April at 11am BST on the Investor Meet Company (IMC) platform by registering here: https://www.investormeetcompany.com/ilika-plc/register-investor