RegTech Cube has acquired AI-driven data capture firm The Hub, marking the first step in a planned series of acquisitions aimed at consolidating the regulatory technology market.
Founded in the wake of the 2008 financial crisis, Cube provides services to over 5,000 issuing bodies across 180 jurisdictions, assisting financial institutions in managing complex regulatory change and compliance processes. After securing an investment from Bregal Milestone in the fall, Cube aims to expand its geographical footprint and enhance its platform by partnering with complementary market players.
While Cube primarily focuses on classified market intelligence from issuing authorities, The Hub specializes in capturing and analyzing unstructured data from the regulatory internet. It employs various tools, including topic-based classifications, relevance calculations, article versioning, indexing, and data analysis, to deliver timely regulatory content to financial firms.
Cube founder and CEO, Ben Richmond, stated, “The current macro environment creates uncertainties for newer, less proven market entrants, so it is increasingly important for customers to select the right partner to support their long-term regulatory compliance strategy. The acquisition of The Hub is just the beginning of our strategy to consolidate regulatory compliance-focused firms and technologies in this fragmented RegTech market.”