Acin will contribute to crucial forums on the risk and regulatory challenges facing financial services in both the UK and US, drawing from its extensive pool of cross-bank operational risk data to help inform the industry and regulators.
The Acin Platform automates and simplifies operational risk processes and provides a dynamic dashboard that delivers real-time risk assessment, updates on changing regulations, risk intelligence, and third-party feeds. The Acin Network delivers peer-to-peer benchmarking for each customer’s operational risk response, presented in a standardized form to allow deeper analysis and better insights.
Ten of the world’s largest global banks are already members of the Acin Network, which currently spans the UK, US, Europe, and APAC regions.
Paul Ford, CEO, and Founder of Acin, commented: “At the heart of Acin’s solution is collaboration, bringing together a network of firms to share knowledge and collectively raise the bar on operational risk management. Financial institutions that work together will significantly improve their ability to operate profitably, securely, and in compliance with international regulation. We look forward to further contributing to cross-border cooperation through the DIT roadshow. Being selected is a testament to our position at the vanguard of the industry and another step towards lifting the global operational risk standard.”
Acin’s platform supports operational risk and control management for financial institutions through a standardized, industry-wide taxonomy and a first-of-its-kind network that facilitates collaboration and collective intelligence between its customers, delivering insights from the shared data.
Kunal Khatri, Director for DIT North America, said: “The UK has been at the heart of the global financial services innovation for decades, and in 2021 we will continue to lead the global FinTech and RegTech revolution. As the number one destination in Europe for FinTech investment, the UK accounted for nearly half of the $9.3Bn invested in 2020. We’re excited to showcase the talent and expertise that UK companies have to offer. This roadshow is a great opportunity to deepen our bilateral engagement on financial services with the US and encourage private sector collaboration to make the world a safer, easier, and more equitable place to do business.”
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