BankProv has partnered with financial crime effectiveness testing platform Cable, in a bid to enhance its financial crime compliance program.
As part of the move, Cable’s cutting-edge automated financial crime assurance and testing capabilities, will be utilised by BankProv as they look to strengthen their commitment to regulatory compliance.
Cable’s all-in-one financial crime effectiveness testing platform equips banks, FinTechs, and digital asset-related firms with a comprehensive suite of tools. These tools include automated risk assessments, automated assurance, quality assurance, management information, reporting, and more. In an environment where financial crime is on the rise, Cable’s platform ensures regulatory compliance and effective controls.
As a Banking-as-a-Service (BaaS) provider, BankProv caters to niche markets, including renewable energy, FinTech, and enterprise value lending. Their focus on leveraging technology to combat financial crime aligns perfectly with Cable’s expertise.
Janine Jakubauskas, Chief Risk Officer at BankProv, said, “Compliance is a high priority at BankProv, and given the increasingly complex financial crime landscape coupled with new regulations, we’ve taken proactive measures to test financial crime control effectiveness. We believe Cable’s methodical and innovative approach to effectiveness testing complements our focus on delivering technology-driven banking solutions that create financially strong businesses and communities.”
Natasha Vernier, CEO at Cable, said, “Financial crime driven by sophisticated criminals has become more prevalent than ever before. This environment has put regulatory compliance and effective controls front and center in regulators’ minds. We’re proud to partner with BankProv to support their efforts and ultimately extend our mission to reduce financial crime through an innovative, data-driven approach.”
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