CUBE, a leading provider of ARI and RCM, has acquired Thomson Reuters Regulatory Intelligence and Oden products and businesses.
CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has acquired Thomson Reuters Regulatory Intelligence and Oden products and businesses. Thomson Reuters is renowned for its expertise in providing regulatory analysis and subject matter expertise, alongside world-leading journalism and news.
This acquisition marks a major step forward in the firm’s growth strategy, aiming to deliver substantial scale across numerous leading financial institutions globally. While the exact value of the deal has not been disclosed, it signifies a significant investment for CUBE.
CUBE’s existing global customer base will be substantially expanded, encompassing approximately 1,000 customers across banking, insurance, asset and investment management, payments, and adjacent regulated industries. With this acquisition, CUBE’s workforce will grow to 600 employees, including nearly 250 highly qualified regulatory subject matter experts, legal, and compliance professionals.
Ben Richmond, founder and CEO of CUBE, expressed excitement about the synergies between the two companies, stating, “The combination of CUBE’s purpose-built AI with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts will accelerate innovation.” Richmond emphasized that this collaboration would enable the delivery of regulatory transformation capabilities previously unimaginable.
According to Richmond, “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology, setting a new industry standard in regulatory automation and content.”
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters, highlighted CUBE’s established position as a leading regulatory intelligence provider and expressed confidence in a seamless transition for customers and employees.
Through this acquisition, CUBE aims to offer an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence and highly contextualized regulatory content for customers.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
