Baringa Partners is working in partnership with London-based compliance and data analytics firm SteelEye, to provide solutions for the Reg tech market.
Baringa says it has identified compliance as a huge opportunity in terms of technology investment, as financial services firms want sustainable solutions that can be ‘plugged in’ instantly. As the RegTech market continues to grow in terms of maturity, viability and sustainability, Baringa believes investment will continue to grow, with new products entering the market and firms embracing RegTech in their existing business models. The firm also views London as a hotbed for RegTech start-ups and developments in big data technologies, which will be vital in enabling the creation of new use cases and next-generation RegTech solutions.
SteelEye’s compliance and data analytics technology is aimed at enabling firms to ensure that their record keeping, trade reporting, trade reconstruction and best execution capabilities are both accurate and compliant with MiFID II. The technology also provides a data analytics capability that can be leveraged for business benefits.
SteelEye's CEO, Matt Smith (pictured), says: "SteelEye has the best communications and trade record keeping solution, combined with the most advanced trade reconstruction capabilities available in the market. We wanted to partner with Baringa to leverage their deep regulatory and capital markets expertise. This will ensure that we are in a position to provide a solution that gives our clients a platform for compliance that, importantly, can be leveraged to drive the business benefits our software can provide."
Chris Nott, Partner at Baringa, adds: "SteelEye has proven to be a really innovative RegTech firm in the financial services regulatory and compliance space. We are excited to now be working with SteelEye to help our clients not only meet their regulatory obligations, but also gain a strategic advantage from the data that the regulations prescribe they must now maintain. I truly believe that firms who embrace this and invest well in technology will gain a genuine advantage in the market place."
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