SteelEye, a compliance technology and data analytics firm, has joined EY’s Fast Growth Platform, which provides a unique suite of services and support to drive the development of fast-growing tech companies.
This will help SteelEye expand its capabilities and enhance its capacity to assist its clients in meeting their regulatory obligations.
Launched in July 2017, EY’s Fast Growth Platform provides a three-tiered, tailored programme that includes start-up, scale up and global support. It offers emerging tech companies a range of services at each stage of their journey to help spur their expansion, including financial forecasting, growth planning, strategic support, social strategies, and comprehensive legal services. The industry-leading platform combines this support with access to EY’s global network of clients and professionals to help them maximise opportunities.
In assessing companies for the Fast Growth Platform, EY considers a range of factors, including the boldness of the company’s strategic vision, strength of the management team and the distinctiveness of the offer or service that the business is bringing to the market. EY draws on its extensive experience of working with fast-growth companies to inform its support for the platform as well as its development of other complementary key initiatives. These include the firm’s EY 7 Drivers of Growth methodology to help spur the expansion of growth businesses as well as its ‘Entrepreneur of the Year’ programme, which celebrates the people who are building and leading successful, growing and dynamic businesses.
“The services offered by EY’s platform and the expertise and support we can draw on will be a strong growth enabler and will help us develop the best service we can for businesses looking for support to cope with the significant regulatory challenges that many face,” says SteelEye CEO, Matt Smith (pictured). “Next year a number of key directives will be implemented and our cloud-based service is designed to give companies a comprehensive solution and an ability to analyse and evaluate regulatory data to provide them with a wealth of insights to help optimise their business. Our motto is ‘don’t just comply, compete’.
MiFID II, GDPR and PSD2 are just three key regulatory directives that come into force next year. In particular, for MiFID II, SteelEye’s innovative cloud-based platform uniquely offers transaction reporting, record keeping, trade reconstruction, best execution and data analytics in a single solution. This will help firms to trade with greater efficiency, profitability and control. At the same time, the open API framework allows clients to harness the power of their data in whatever manner that best suits their business needs.
“We are thrilled that SteelEye has joined our Fast Growth Platform,” says Richard Goold, EY’s Fast Growth Leader. “The company is one of the most dynamic and innovative businesses in the RegTech arena and is offering businesses a unique solution to manage their regulatory obligations. We look forward to helping the company better serve its clients and accelerate its growth both domestically and internationally.”
Earlier this year, SteelEye partnered with the London Stock Exchange’s UnaVista Partner Programme to provide firms with an integrated, end-to-end technology-based solution that would help them meet their transaction reporting obligations. SteelEye has also established a presence in Switzerland, opening offices in Zurich and Geneva with plans to expand into Germany in the coming months. SteelEye’s cloud-based platform was formally launched in October 2017.
