CUBE, a London-based global provider of Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has acquired Acin, a regtech company specialising in operational risk and based in London.

The acquisition enhances CUBE’s existing capabilities by incorporating Acin’s regulatory controls data network and tools for full traceability.

According to CUBE, the deal supports its aim of helping financial institutions and other regulated industries manage increasingly complex regulatory and risk environments by offering a data-driven, end-to-end compliance and risk management platform.

Acin’s platform uses artificial intelligence to support financial institutions in digitising non-financial risk analysis.

It also enables the calibration and sharing of control data across a network of financial institutions, allowing users to benchmark against anonymised peers.

This approach offers institutions insights to improve risk controls while maintaining data privacy.

The acquisition marks the beginning of a wider industry collaboration initiative led by CUBE and initially supported by five major banks, with additional participants expected in the coming year.

The initiative aims to encourage greater cooperation in managing compliance and risk across the financial sector.

Ben Richmond, CUBE’s Founder and CEO, said:

“This is a significant step forward in how financial services firms across the globe can take a truly integrated approach to their compliance and risk management… What was once siloed knowledge can become collective intelligence for improving compliance and risk effectiveness industry-wide. Secure, data-driven collaboration isn’t just possible, it’s essential for the continued evolution of the industry.”

Paul Ford, Founder of Acin, added:

“By joining forces with CUBE, our platform will continue to grow and deliver even greater value to both our existing customers and CUBE’s global client base, while shaping the future of our industry.”

The acquisition follows a series of deals by CUBE in the past year, including the purchase of Thomson Reuters Regulatory Intelligence, Oden, and RegRoom.

CUBE states that integrating Acin’s capabilities enables the company to offer a combined compliance and operational risk platform, RegPlatform.

CUBE, which now employs 700 people across 20 countries and serves 1,000 customers, recently opened a new global headquarters in London.

The company has announced plans to create 200 new roles over the next year, half of which are expected to be UK-based. The new headquarters also houses CUBE’s AI Centre of Excellence, the RegBrain AI Lab.

Financial terms of the transaction were not disclosed.

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