Last checked at 11 Jul 2018 07:00
11 July 2018
KRM22 plc
("KRM22" or the "Company")
KRM22 announces partnership with Ascent Technologies Inc.
- Partnership brings Compliance Automation to KRM22's Global Risk Platform -
KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, today announces that it has partnered with Ascent Technologies Inc. to further enhance KRM22's Global Risk Platform. The partnership includes an agreement for KRM22 companies to distribute and support Ascent's Regulatory Technology Platform on the KRM22 Global Risk Platform.
Ascent's "regtech" Software-as-a-Service ("SaaS") product helps capital market clients build, manage and automate their own regulatory compliance programmes. Ascent uses machine learning and predictive analysis to analyse the multitude of rules and regulations from sources including Exchanges, Primary Regulators and other laws and guidelines across the globe. Ascent codifies the rules from each regulatory source and links related topics from those sources to simplify compliance implementation.
Keith Todd CBE, Executive Chairman and Chief Executive Officer of KRM22 plc commented:
"This key addition to our Global Risk Platform validates our vision of delivering one platform for capital market clients to login to a multitude of applications. The KRM22 platform will allow customers to choose applications from a single platform.
We chose Ascent's regulatory compliance system as it allows capital market clients to identify all their compliance obligations in minutes rather than via weeks of consultant reviews and receive real-time updates. That represents huge potential cost savings for customers."
Brian Clark, CEO and Co-Founder of Ascent said:
"We're excited to provide KRM22 with Ascent's technology, which can process and analyse millions of points of regulatory data and translate them into actionable intelligence. This will allow KRM22 to incorporate the rules and regulations from regulators around the world into a fully integrated enterprise risk management system. As regulators update their rules, each customer's regulatory ecosystem is automatically updated through Ascent's platform, so we can provide our customers with constantly updated information for their risk management program. Ascent's technology is fully scalable and our solutions are customizable for each client."
For further information please contact:
KRM22 plc via FTI Consulting LLP
Keith Todd CBE, Executive Chairman and CEO
Karen Bach, COO
finnCap Ltd (Nominated Adviser and Sole Broker) +44 (0)20 7220 0500
Carl Holmes / Kate Bannatyne
FTI Consulting LLP +44 (0)20 3727 1000
Matt Dixon / Emma Hall / Jamille Smith / Debbie Oluwaseyi Sonaike
Ends
About KRM22 plc
KRM22 is a closed-ended investment company which listed on AIM on 30 April 2018. The Company has been established with the objective of creating value for its investors through the investment in, and subsequent growth and development of, target companies in the technology and software sector, with a particular focus on risk management in capital markets.
Through investments and partnerships in businesses with risk management software, KRM22 delivers a risk management platform as a Software as a Service offering: a true "Global Risk Platform". KRM22 provides capital market organisations with the way forward for better, lower-cost, risk control and regulation compliance to drive profitability.
See more about KRM22 at KRM22.com.
About Ascent Technologies
Ascent Technologies is a regtech firm that helps customers simplify and automate their regulatory compliance programs. Its IntaaS (Intelligence-as-a-Service) platform uses a proprietary vertical AI and automation processes to convert the rules and documents of a regulatory body into units of intelligence that are distributed to customers online.
Ascent's regtech products allow customers to automate their regulatory compliance function by helping them to identify, monitor, and manage their regulatory obligations, saving time and money and reducing regulatory risks. Learn more at www.ascentregtech.com.