Trapets, Insightful create surveillance and regulatory compliance platform

RegTech company Trapets and Insightful Technology have formed a partnership to deliver a trading surveillance and regulatory compliance ecosystem.

Headquartered in Stockholm, Sweden, Trapets is a provider of Market/Trading Surveillance, AML and KYC solutions, providing automatic surveillance and compliance through its flagship product, InstantWatch. It offers advice on the best fit compliance solutions for the capital markets accompanied by fully project managed implementation, consultancy and maintenance services.

The company said it will align its product suite with Insightful best-in-class compliant multimedia communications SaaS platform, Soteria.?? Trapets said it will now be able to proactively monitor and analyse not only market activity around trades, but all global multimedia communications inside their organisation that potentially relates to a trade.

Rob Houghton, CTO of Insightful Technology said: ?In marrying up reports from Soteria with Trapets own intelligent reporting capabilities, a fundamental gap is bridged in providing a complete set of records to the regulator around the lifecycle of a trade, and more importantly gives businesses back ownership of their data and a confidence that they have shown best execution and transparency in line with the major financial market regulations. The collaboration is an exciting one to say the least.p>

InstantWatch AML provides automatic surveillance against money laundering and terrorist financing, supporting the third, and fourth, EU Anti Money Laundering directive. InstantWatch KYC enables banks, financial companies and institutions to scree their clients against EU sanctions lists and also keep track if a client is a politically exposed person, PEP, or can be categorized as relatives and close associates, RCA.

Through Soteria, Insightful Technology provides organisations with the ability to securely capture, analyse and store business communications in real time. With an accompanying A.I. and B.I. analytics and proactive alerting suite, and the functionality to create case reconstructions immediately. It claims to drive compliance on a global scale but also impact on enterprise agility. Soteria is currently used by 9 of the top 12 tier 1 global banks, and over 175 other financial organisations, and can also be implemented by government agencies, legal institutions and pharmaceutical companies all around the world.

Copyright ? 2018 RegTech Analyst

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