Belgian regtech Harmoney has acquired compliance specialist APPC, a subsidiary of the Forsides Group.
The acquisition will present APPC purchasers with a broader vary of instruments to combat challenges starting from anti-money laundering (AML) to counter-terrorism financing (CTF).
Harmoney made its Finovate debut at FinovateEurope 2022 in London.
Belgium-based regtech Harmoney introduced its acquisition of APPC, the compliance-oriented subsidiary of the Forsides Group. The acquisition will allow Harmoney to supply a streamlined, all-in-one compliance resolution to monetary establishments (FIs), integrating all regulatory operations on a single platform and empowering FIs to take care of compliance with the ever-changing regulatory surroundings.
The acquisition comes after 5 years of collaboration between Harmoney and the APPC crew. This collaboration has yielded versatile, custom-made options to assist FIs take care of challenges starting from anti-money laundering (AML) to counter-terrorist financing (CTF). Publish-acquisition, the APPC model will stay intact; its providers will probably be enhanced and expanded through Harmoney’s choices. It will present APPC purchasers with entry to an excellent broader vary of compliance options. APPC purchasers will even profit from the experience of the Harmoney crew which affords a cost-efficient strategy to compliance and complete protection to complicated company constructions.
“Our long-standing partnership with APPC has paved the best way for this thrilling new chapter,” Harmoney CEO Thomas Van Maele stated. “By integrating all regulatory processes onto a single platform, we’re in a position to merge superior expertise with skilled assist from two skilled groups that share the identical values and dedication to compliance.”
Based in 2016, Harmoney made its Finovate debut at FinovateEurope 2022 in London. On the convention, the corporate demonstrated the workflow orchestration of a digital reboarding of a personal buyer. The workflow contains identification, authentication, and danger screening that gives an total danger rating that allows compliance groups to conduct due diligence and, in the end, decide acceptance, escalation, or rejection.
This summer time, Harmoney introduced that it was teaming up with Discai, a subsidiary of KBC Group, which leverages knowledge science and monetary experience to assist banks and different monetary establishments fight monetary crime. The 2 firms launched an built-in AML resolution for FIs that mixes Discai’s AI-based alert system with Harmoney’s end-to-end case and course of administration platform. Additionally this 12 months, Belgian banking options collaborative Isabel Group introduced that Harmoney can be the primary integration associate for its newly launched verified company knowledge hub.
Harmoney has raised $5.3 million (€6 million) in funding based on Crunchbase, courtesy of a seed spherical in 2023.
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Photograph by Barb Duggan
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