FTF News also offers FinTech updates from tZero, Ranieri Solutions, Symbiont and StatPro Group.
Acquisition to Expand ACA’s Services in Europe
ACA Compliance Group reports that it will acquire Cordium, a provider of governance, risk and compliance (GRC) services.
ACA, a provider of risk management and technology solutions that focus on regulatory compliance, performance, financial crime, and cybersecurity, expects the transaction to close this summer, subject to regulatory approvals. Terms of the transaction were not disclosed.
The acquisition will expand ACA’s services in Europe to include Cordium’s regulatory hosting platform, Mirabella, and a post-Brexit EU office, ACA says.
After the acquisition closes, Cordium’s compliance, cybersecurity, software, regulatory hosting, tax and regulatory-reporting offerings will be integrated into ACA’s operations to create a combined organization employing nearly 700 people and servicing more than 4,000 clients worldwide, ACA notes.
Cordium currently maintains offices in London, New York, Boston, San Francisco, Malta and Hong Kong.
tZero Unveils Security Token Trading Software
tZero, which describes itself as Overstock.com’s “blockchain-meets-Wall-Street” subsidiary, reports the release of a prototype for its planned security-token trading software.
A link to the demo video, illustrating how security tokens may be traded on the token-trading platform, is available here.
“Technologically speaking, we anticipate the security token trading software will be ready to trade security tokens in May, subject to developing further regulatory clarity,” Joe Cammarata, tZero president, says in a statement. “We have been working hard on getting this prototype right and look forward to user feedback.”
On December 18, 2017, tZero also notes, it opened its global $250 million initial coin offering (ICO) to accredited investors.
Users may offer their own comments here.
Ranieri Solutions & Symbiont Partner for Blockchain Explorations
Symbiont, a blockchain and smart-contract company, reports a new partnership with Ranieri Solutions, a tech company established by Lewis S. Ranieri, who is characterized by the partners as the “architect of mortgage securitization.”
The two companies declare that they will “work toward innovations that will bring transparency and cohesion to the entire mortgage industry.”
“The combination of Ranieri’s deep knowledge of the mortgage market coupled with Symbiont’s expertise in deploying enterprise blockchain networks led to the partnership between the firms,” the two say in the statement.
“The mortgage market, despite significant efforts, continues to lag behind from a technological standpoint creating inefficiencies that impact mortgage loans throughout their life cycle,” Ranieri says in the statement. “By partnering with Symbiont, a proven blockchain pioneer, Ranieri Solutions believes that together we can implement this transformative technology to bring necessary efficiencies, transparency, and security to the mortgage markets.”
Ranieri Solutions LLC is an investment company established by Lewis S. Ranieri to “invest in, develop, and apply innovative technology solutions focused primarily on the real estate and mortgage markets,” per the firm.
StatPro Group Moves Revolution Engine to New Platform
StatPro Group, a vendor of cloud-based portfolio analytics and asset pricing services, is moving its Revolution calculation engine to Microsoft Azure Data Lake Analytics platform, officials say.
“In order to harness the power and elasticity of the cloud better, and to offload big data analysis and storage further from the core Revolution system to serverless cloud computing, StatPro has selected the Azure Data Lake Analytics service,” StatPro officials say in a statement. The StatPro Revolution cloud processor engine was already using the Microsoft Azure cloud platform using a HDInsight server cluster, officials add.
The Microsoft Azure Data Lake Analytics provides “a cloud-based data processing architecture, enabling processing of extremely large data sets and true parallel processing of structured and unstructured data,” officials say. “StatPro is using the technology for processing anonymized assets and non-client identifiable information for large benchmark calculations and fixed income analytics processing.”
“StatPro continues to research and invest in the best cloud technologies suited to our clients’ needs,” says Justin Wheatley, CEO of StatPro, in a comment. “As we develop new fixed income and benchmark analytics, we require enormous amounts of on-demand computing power to deliver results in totally new timeframes versus other systems.”
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