CUBE, a regtech firm specialising in Automated Regulatory Intelligence (ARI) has officially acquired AI-driven monitoring solution provider The Hub.
The Hub specifically specialises in supplying AI capabilities to the regtech industry, capturing and analysing unstructured data across the regulatory internet. The acquisition of The Hub enables CUBE to expand its market reach to provide its solutions to regulated firms worldwide.
CUBE made the acquisition in response to ever-changing global regulations. Firms across the world require ways to keep track and ensure compliance with regulations. The regtech firm aims to provide leading regulatory compliance technology in order to enable this.
CUBE plans to integrate The Hub technology into its platform, adding to existing capabilities for customers to automate their regulatory compliance processes. The platform also looks to reduce both risks for firms alongside compliance operating costs.
The ARI regulatory platforms looks to capture new or changing regulations and use AI to automatically map them to customers’ policies, procedures and controls. The solution ensures that firms are updated and aware of new regulations relevant to the. CUBE’s service also aims to mitigate the requirement for compliance departments to attempt to prevent non-compliance and ensure good governance practices.
Becoming ‘the right partner’ for new firms in the industry
Ben Richmond, founder and CEO of CUBE, discussed the decision to acquire The Hub. Richmond said: “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.
“The current macro environment creates uncertainties for newer, less proven market entrants so it is ever more important that customers can be confident in selecting the right partner to support their long-term regulatory compliance strategy. CUBE’s vision and proven track record as the category-defining regtech leader for ARI and strategic provider of choice to the world’s most highly regulated institutions gives customers assurance that CUBE is here to partner with them in the long term.”
Juned Jable, co-founder and CEO of The Hub, also added: “We are excited by this next phase in our journey. We have partnered with CUBE for some time and see this as a natural next step in more closely aligning both firms’ AI-driven regulatory technology. CUBE’s strategy will ensure Hub’s employees, customers and partners are in safe hands and will benefit from further investment from what is clearly now the undisputed market leader.”