Insights Success

MAP FinTech: Technology at the heart of Regulation.

D-e_v@IS — Tue, 20 Jul 2021 06:24:02 +0000

Considering the high levels of regulation in the financial services sector, it makes perfect sense for firms to rely on efficient and cost-effective technologies to manage and fulfil the multiple regulatory compliance functions required to run their businesses and remain compliant. With this trend gaining momentum, it’s imperative for firms to embrace RegTech and fully understand how these technologies can impact their business moving forward. It’s not enough to simply react to the compliance requirements imposed by new regulations as they are brought into line; firms must prepare ahead of time to tackle the rules that will be rolled out during the next five years and beyond. Consequently, adopting a solid RegTech framework to effectively comply with all financial regulations could also help boost a firm’s profitability and overall efficiency.
MAP FinTech has managed to combine compliance and technology successfully and innovatively. Its technology and compliance teams are closely synchronized. This allows the company to be flexible, efficient, and effective in supporting the new demanding and dynamic requirements of Global RegTech. Mark Ellis is the Senior UK Business Development Manager at MAP FinTech. As regulatory technology continues to evolve, MAP FinTech’s mission remains to provide its clients state-of-the-art scalable solutions, that simplify the way that they meet their regulatory obligations without burdening their operational flexibility.
In an interview with Insights Success, Mark Ellis shares the journey and contribution of MAP FinTech in the financial services industry through its innovative solutions.

“MAP FinTech is a leading and award-winning regulatory technology provider for the financial services industry, specializing in regulatory reporting solutions.”

Below are the highlights of the interview:
Talk to our readers about MAP FinTech, and its journey since inception / List of the popular services that make your company standout from the competition.
Founded in 2013, MAP FinTech is a leading and awardwinning UK and EU regulatory technology provider for the financial services industry, specializing in reporting solutions arising from the requirements of a number of complex and challenging international regulations such as EMIR, MiFID II/MiFIR, SFTR, FATCA, DAC6 and CRS. MAP FinTech also provides innovative and comprehensive solutions for Best Execution Monitoring, RTS 27/28 reporting, AML Transaction Monitoring and Screening, Trade Surveillance (Market Abuse), and eKYC (Screening, eIDV, Document Authentication).
MAP FinTech, has been one of the First providers in Europe to have reported under European Market Infrastructure Regulation (EMIR) with 2 Billion+ transactions successfully reported thus far since February 2014. We currently serve over 180 B2B global clients and have been recognised as having the Best Innovative Technology for Regulatory Compliance for 2021 at the RegTech Insight Awards and the Best RegTech Reporting Solution at the Finance Magnates London Summit in 2019. MAP FinTech was also listed as one of the most innovative companies in the world for 2020 and 2021 by RegTech100. MAP FinTech’s innovative solutions are currently used by LSE listed brokers including some of the biggest CFD MAP FinTech is a leading and award-winning brokers in the world.
How do you bring Regulatory Reporting Services with MAP FinTech’s easier, faster, and more cost-effective solutions?
All MAP FinTech’s solutions are delivered under its powerful and award-winning Polaris Platform. The Polaris Platform empowers MAP FinTech with complete control of the entire process, from data sourcing to reporting and monitoring and it delivers unparalleled flexibility to quickly adapt to new and evolving regulations. Additionally, the Polaris Platform enables the required conversions, enhancements, and re-formatting of the gathered data, preparing them for submission.
The Polaris Platform automates complex workflow processes enabling to review results and ensure accuracy, along the complete cycle. It also adapts to changes across institutions, geographies, and jurisdictions without systems re-engineering, reducing implementation times. Finally, it offers a flexible foundation from which to achieve compliance and help meet the current and future reporting demands of regulatory authorities.
What makes your organization’s Comprehensive and Innovative Solutions a preferred choice for your clients over the competition?
MAP FinTech is not just a technology company that develops software to enable you to report. At the core of its offering lies compliance. MAP FinTech provides quality assurance that the reporting obligations are correctly covered in terms of data quality. If the need arises, the firm can also directly support businesses before any national competent authority without needing any external thirdparty advisory or assistance. MAP FinTech can directly and uninterruptedly report to a number of EU national competent authorities. Our products have been repeatedly tested and passed several rigorous reviews by EU regulatory authorities, providing full transparency for both clients and EU national competent authorities. Moreover, the company offers financial institutions the unique facility to comply with a firm’s reporting obligations before the regulatory authorities, carry out audit trails, and conduct their own reconciliations.
As mentioned above, all MAP FinTech’s solutions are delivered under a single and powerful platform, the Polaris Platform. Besides transaction reporting, the Polaris platform combines under a single user interface, unique solutions such as Market Abuse Surveillance, AML Transaction Monitoring, Best Execution Monitoring, RTS reports, CRS/FATCA reporting. This allows MAP FinTech to package its offerings to clients by reducing direct and indirect costs, maintain a single point of contact for support and access to the system and avoid the need of multiple integrations with various vendors, thus saving time and resources.
MAP FinTech’s dedicated and experienced support team specialises in regulatory reporting, providing continuous support on what is needed to master transaction reporting requirements. This starts from the onboarding phase and covers the whole process up until the initiation of the live reporting, the handover of the platform to the client, and ongoing day-to-day support.
Last but not least, MAP FinTech is a member of MAP S.Platis Group, a leading financial services consultancy group in the region that maintains one of the largest and most experienced teams of financial services compliance experts in the EU. This ensures that clients receive the best compliance support and guidance from industry experts in the EU, but also in the UK via Complyport, a leading London-based compliance advisory firm with more than 20 years of experience.
How do you envision on sustaining your company’s competency in a cutthroat and volatile world of business? Where do you see your company in the next five years?
We resolve to continue delivering exceptional, innovative, and one-of-a-kind solutions to our clients and partner firms. This includes our best-in-class regulatory reporting technology services and tools that allow those companies working with us to achieve best results. The combined expertise of compliance and technology teams underpins the company’s success in providing targeted solutions to its clients and addressing their reporting needs across a diverse regulatory landscape. Our flexibility to build and support completely customized solutions is what gives us the edge. Agility is the key. Personal care for each customer, commitment and innovation is the customer service model the company uses and will continue to use the years ahead.

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LogSentinel: Improving Cybersecurity with Threat Detection and Response.

D-e_v@IS — Tue, 20 Jul 2021 06:22:06 +0000

In the world of digitalization, it is essential to protect the important information from the potential cyber threats. It has become the obvious reality in recent years that one can’t ignore information security, as the risks are too high, and one can’t afford getting breached. LogSentinel delivers robust and reliable cybersecurity solutions to protect data breaches and insider attacks, as well as it ensures a higher level of compliance with legal standards and regulations.
LogSentinel is an information security company that was founded several years ago with the vision of improving security for everyone. It was started with protecting the integrity of log collection and grew to offer a full-featured Security Information and Event Management (SIEM) solution. Bozhidar Bozhanov is CEO at LogSentinel. He is a senior software engineer and solution architect with over 10 years of experience in the software industry.

“LogSentinel is an information security company helping businesses of all sizes to prevent data breaches and simplify compliance.”

Leveraging the Latest Technologies
LogSentinel is passionate about information security and believes in privacy as a human right. Its mission is to help boost IT security processes of organizations by leveraging the latest technologies including blockchain and AI along with industry best practices. LogSentinel SIEM is an easyto-use next-gen SIEM system that helps its customers to reduce the time and cost of incident detection, investigation, and response by over 90%. By leveraging the latest technologies like blockchain and machine learning, it enables security teams to eliminate their blind spots and prevent any security incident in real-time.
Guaranteeing the Integrity of Data
LogSentinel is zealous about what it does, and the products it creates that entirely protect personal, confidential, and sensitive data of the organizations so that organizations can focus on achieving their business goals without worrying about data breach and its security. LogSentinel’s fundamental priority is to keep critical data of organizations safe by using state-of-the-art way to store, monitor, and analyse their business-related events.
LogSentinel offers absolute integrity guarantees for the collected data. One can use company’s system to prove to third parties, including courts, auditors and regulators, that the digital evidence that was collected hasn’t been tampered with. This is a strong requirement for many sensitive industries. LogSentinel prides itself with the ease of integration and ease of use. SIEM projects are typically very complex and often have unsatisfactory results due to the complexity of integration – company fixes that with a lot of flexibility on the data collection side. LogSentinel offers a predictable pricing model that scales down to allow mid-market companies and SMEs to fully benefit from SIEM.
One-of-a-kind Security Innovation
LogSentinel SIEM offers one-of-a-kind security innovation: privacy of logs, audit log integrity, unlimited retention, and full visibility, all at a flat and predictable fee, estimated by the number of active users. It provides a solution that was previously thought to be only fit for large enterprises, to customers that could not have afforded it, and who are left vulnerable because of that.
Today, LogSentinel is happy to help small and medium enterprises in their cybersecurity and compliance efforts because the world won’t be more secure if a few large companies buy every security product out there. It will be more secure only if every enterprise has access to the best tools. Log management, behavior analytics, advanced AIdriven threat detection and incident response into a complete security monitoring platform – LogSentinel SIEM offers simplicity, predictability, and innovation like nobody else on the market.
Ensuring Endpoint Protection
The pandemic drove many companies to remote work setups which complicate security and that making 360- degree security monitoring extremely important. Organizations cannot afford to miss any source of security related logs and events and cannot afford to trust that home computers are safe, and this is why segments like endpoint protection and SIEM is becoming more and more relevant. LogSentinel’s zero-setup cloud SIEM and its open-source collector and agent can handle every system and every setup even in complex organizations.
Facilitating Digital Transformation
Certainly, remote work is here to stay, and the software industry can make great use of it. But COVID-19 is driving digital transformation in many industries, including the public sector. This is great for software outsourcing, as many businesses will require new systems and new integrations, but is also great for security companies like LogSentinel, as the attack surface is increasing. LogSentinel’s plans are to increase its portfolio of out-of-the-box supported solutions for security monitoring so that any digital transformation project can benefit from great security monitoring and threat detection.
Being Ethical
CSR for a startup is different than CSR for a large corporation. First and foremost, LogSentinel believes in ethics – being ethical to partners, competitors, and customers. This changes the environment for the better.
Reputable Cloud Services
The hard thing about cyber hygiene is finding the time and resources to enforce best practices. LogSentinel prioritizes low hanging fruit in its company, including 2FA and having reputable cloud providers.
Scope for Improvement
Bozhidar states that lot of improvements can be made in the cybersecurity industry in order to account for a complex business environment. He believes that volatility should be met with flexibility and endurance. If something doesn’t work, he advises to adapt, pivot, overcome. He says that Logsentinal’s direction in coming years would to be to fulfil the vision of providing great security tools to organizations of any size.

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Sedicii: Making Identity Verification More Secure than Ever.

D-e_v@IS — Fri, 07 May 2021 15:49:06 +0000

Sedicii, headquartered in Waterford, Ireland was founded in 2013. It is the sixth start-up founded by serial entrepreneur Rob Leslie, Founder & CEO of the company. Sedicii is creating a global federated privacy ecosystem where governments, financial institutions, national utilities and telco’s will be the foundation for KYC, KYB and AML services in respect of a private individual. At the core of Sedicii’s services is its patented ZKP (zero knowledge proof) protocol. ZKP allows for the verification of personal ID without either party to the verification process having to share the raw data. “Rather than the traditional method of documentation verification, the future is to rely on authoritative data to prove identity – while concurrently protecting the privacy of the individual,” says Rob.
Rob asserts “there is nothing that focuses your mind about the importance of privacy like having your personal information and credentials “hacked” online. Working in my previous company, Kyckr, we worked on KYC for companies and entities, and I saw the next natural step as personal privacy and so Sedicii was founded.”
In an interview with Insights Success, Rob Leslie shared his view on a variety of reasons why electronic identity verification is critical in modern times, and how Sedicii is embarking on providing “best in class” digital identity.
Below are the highlights of the interview:
As a security solutions provider company, what contribution has the company made in assisting its clients in achieving measurable goals?
The Sedicii development team are passionate when it comes to helping our clients through the process of integrating our technologies seamlessly into their existing workflows. We fully acknowledge that the concept of verification without information sharing is hard for people to get their heads around. We expect and – dare I say it – welcome the “Doubting Thomas” sceptic. However, the measurable goals show almost instantaneous benefits in terms of cost-effectiveness, real-time validation, enhanced privacy, efficiencies and reliability.
How does Sedicii’s solution differ from the other companies’ solutions?
In the context of Anti-Money Laundering (AML) transaction monitoring processes, using Sedicii’s solutions enables banks to better collaborate where they can jointly compute advanced risk assessment algorithms that consume customer information available in the different banks without actually having to share that information -. all enabled by using Sedicii’s patented multi-party computation (MPC) cryptographic protocol.
Sedicii’s solution allows financial institutions to securely share the insights they have about clients or transactions, without disclosing the underlying confidential data or information (PII). This enables financial institutions to identify potentially suspicious transactions more clearly and accurately by combining the risk information they have – which enables more effective detection of criminal activity.
Give an insight about importance of AI in security solutions and how aspects of the solution are changing with the advancement in technology?
Sedicii is spending significant time and effort working on the development and refinement of new technologies in the areas of advanced cryptography, biometrics and artificial intelligence. These capabilities allow us to deliver more robust verification capabilities which protect privacy and confidentiality without compromising on the need to hold the data that proves someone really is who they claim to be.
Give a detailed description of the featured person’s influence over the company and the industry.
Rob is a serial entrepreneur and a World Economic Forum (WEF) Technology Pioneer. He has spoken at Davos on cybersecurity, digital identity and other technology issues affecting the world’s economies. Additionally, Rob has spoken at worldwide seminars and conferences such as EU Parliament (ESPAS) Conference, the International Economic Forum of the Americas Conference, Montreal, Canada, the Horasis Global Summits where he is regarded as an industry leader. In addition to addressing these important global communities Rob believes strongly that listening to the experiences of others keeps him up to date with the latest technologies and relevant trends as well as allowing him to meet with other like-minded creative professionals.
As a Founder / CEO, Rob is very hands-on and has had a deep involvement in the evolution of Sedicii. “In the early years, I was it!” Rob says. “I researched ZKP for almost two years whilst working at my previous company Kyckr and in 2016 relinquished my role there to concentrate fulltime on Sedicii”. “I sought out investors, did the market research and finally in 2016 we began our growth from one person to today’s group of 16 people” The company is now multi-locational with finance and operations at our base in Waterford, Ireland, innovation and strategy is based in the U.K. and technology development is based in Belgium and the Canary Islands.
How do you sustain in the current unpredictable markets and hectic competition?
Sedicii is on a mission and has seen a definite increase in organisations looking to collaborate over the past 12 months. In many respects, Covid-19 has focused minds on the positives and negatives of becoming digital by default. We regularly hear in the media of the huge growth in online activity be it retail, commercial, banking or social. We also hear of the corresponding significant growth and the upsurge in fraud, impersonation, personal and financial theft. Pre-Covid, perhaps we were in denial of the relevance or importance of keeping our private information private? Perhaps the internet problem, described by Andrew Grove former CEO, COO and Chairman of Intel when he said “Privacy is one of the biggest problems in this new electronic age”, will finally be taken seriously. We are sustained by the team’s utter conviction in our products and services and the prediction of former BBVA Head of Open Innovation who stated that “Sedicii is the start-up with the greatest potential to transform the financial sector in the next 10 years!”.
What is your vision for Sedicii? And what would be the best roadmap for getting there?
By working with other like-minded organisations and building a global federated network Sedicii’s vision is to make the Universal Declaration of Human Rights real such that “No one shall be subjected to arbitrary interference with his privacy, family, home or correspondence, nor to attacks upon his honour and reputation. Everyone has the right to the protection of the law against such interference or attacks” while accessing technology at the same time.
The roadmap is created through a combination of our investors, employees, stakeholders who believe in our vision and for whom all seek to succeed. Additionally, the roadmap includes our customers, partners and community whose online experiences will become more secure and who will see reputational enhancements, organisation cost effectiveness and operation improvements in efficiencies.

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DeltaconX: Unifying Regulatory Compliance.

D-e_v@IS — Fri, 07 May 2021 15:48:01 +0000

During the last few years there has been a clear trend to use cloud-based solution. The advantages of a centrally managed and maintained private cloudbased reporting platform that can be accessed from everywhere in the world are always existent. deltaconX AG believes that cloud computing and in consequence outsourcing of data centres is the future for most industries. The company is working with two highly secure data centres (Tier 4) in which its data and its customer data is maintained. deltaconX AG offers its solution as private cloud solution since 2013 as it realized these advantages much earlier. The pandemic has even more accelerated the trend to use cloud-based solutions.
deltaconX AG’s main sector of activity is the financial industry but also non-financial companies are among its clients. As a Swiss company based in Lucerne, deltaconX AG is a full-service provider offering a unique software and support package specifically tailored to European Financial, Energy, and Commodity trading organisations to cover multiple jurisdictions within a unified regulatory platform.
At the helm of the company is its elite leadership team. One of the key members of the company is Fabian Klar, Director Sales & Customer Relations.
Strong Position in Financial Sector
deltaconX AG’s deltaconX regulatory platform has been launched as a private cloud solution in 2013 to offer a reporting solution under the European Market Infrastructure Regulation (EMIR). In 2015, the reporting obligation under the Regulation on wholesale Energy Market Integrity and Transparency (REMIT) has kicked in and company included the module to its solution. In 2017, the Financial Market Infrastructure Act (FMIA or FinfraG) in Switzerland came into force and it won 50+ financial institutions in Switzerland.
In 2018, the Markets in Financial Instruments Regulation (MiFIR) entered into force in Europe and it has included transaction as well as trade reporting modules into its regulatory platform. In July 2020, the Securities Financing Transaction Regulation (SFTR) reporting obligation came into force. With the introduction of this highly complex regulation into its deltaconX regulatory platform, the company has significantly strengthened its positioning in the financial sector.
Clients from Different Sectors
Today deltaconX AG reports on behalf of over 200 direct and indirect clients coming from different sectors. It has its Energy and Commodity trading organisations on one hand and on the other hand it has its clients from the financial sector being banks, asset managers, insurance companies or pension funds. Even industrial clients that are active in the capital markets (mainly FX trading) are among its clients.
Beside the company’s direct clients, it also has partnerships in place with some of the most prestigious software vendors in the financial industry. It has been white labelling its platform to Finastra and SimCorp and has a connectivity agreement with Murex in place. It plans to further extend such partnerships and are confident that it can announce at least 1-2 new cooperation within 2021.
Easing Regulatory Reporting Processes
deltaconX AG’s vision is to become the strongest FinTech/RegTech community in unifying regulatory compliance processes by providing its centralized deltaconX regulatory platform. The company intends to ease regulatory reporting processes of its clients as much as possible while reducing the total cost of ownership significantly.
Brexit has also been a topic that kept deltaconX AG busy over the last months as depending on the regulation, reports must either be split between both regulations or even double reporting might be necessary for certain transactions and constellations. deltaconX AG has established additional EMIR UK, MiFIR UK and SFTR UK reporting modules that include rules engine defining under which regulation a transaction or even a delegated report needs to be reported.
Multi-Regulatory Platform
The deltaconX regulatory platform is a state-of-the-art multi-regulatory platform offering various possibilities regarding data management, exception management, reconciliation management as well as a whole sweep of useful functionalities like UTI generation and sharing, an LEI-Repository which is directly connected to the GLEIF database, just to name a few. In its unique platform, all reports and records for supported regulations can be accessed, including the entire history of the reported transactions. Regulatory changes are mainly done by deltaconX on the centrally managed platform. Using deltaconX AG’s service enables IT resources of clients to work on their primary activity.
The regulatory platform enables 100% predictable costs due to the Service fee including all regulatory changes. No extra fees for release upgrades. The company wants to extend the regulatory offering by upcoming reporting modules. It intends to extend regulatory reporting by additional reporting channels. There is no need of dependency on reporting channels decision to continue or discontinue the reporting services. deltaconX will take care to find an alternative and to connect to these. Reduced implementation and maintenance cost as only one integration is required. Flexible integration as deltaconX AG’s solution can accept declarations in XML, CSV, Excel and flexible connectivity types: API, SFTP and manual upload.
Reducing Operational Costs of Clients
deltaconX AG is constantly enhancing the features of its platform and extending the regional coverage. It is not seeing itself as a vendor but more as a service provider and partner that is evolving together with its clients and partners. Being close to the market, understanding the markets needs and delivering a service that is helping its clients to make their life easier and to reduce operational costs is its main focus.
Extending Regional Coverage
In 2021, deltaconX AG plans to extend its regional coverage by also offering Dodd Frank (CFTC and SEC) reporting in the US, ASIC reporting in Australia, MAS reporting in Singapore, CSA reporting in Canada, HKMA in Hong Kong.
In time of five years, deltaconX AG aims to be a global leader in the regulatory reporting space and covering regulations from all over the world and supporting clients from all over the globe. It will cooperate with the majority of the financial front-office system providers and will transform regulatory reporting from a pure cost centre into a differentiator for its clients.
Fulfilling All Regulatory Reporting Obligations
“For us, working with deltaconX is not just about having a soluon provided by an external vendor. Instead, deltaconX has proven to be more of a partner, supporting us with their broad knowledge on regulatory reporting burdens.” – ERSTE Group
“We decided to go with the deltaconX SFTR solution because the respective product is very intuitive to use and could be implemented with little effort as well. The deltaconX regulatory plaorm is highly user-friendly and enables us to easily create SFTR reports in an efficient way and to be 100% compliant all the me. In addition, there is the prospect of connecting further regulatory topics such as EMIR all within one interface which makes it more comfortable for the back-office departments.” – DZ PRIVATBANK
The reporting start went well for us.
We would like to thank the team of deltaconX for the support and can particularly emphasize the feedback management and the high response speed. – SOBACO
“deltaconX perfectly fulfils the function as a central platform for different regulatory reporting like EMIR, FMIA or MiFIR and convinces with innovative spirit, flexibility and great support.” – Investbanks Berin
deltaconX is a reliable and credible partner that provides a highly flexible solution for the coverage of dc’s regulatory reporting obligations.
The robust technical platform has definitely helped us to streamline and automate the reporting processes, which ensure regulatory compliance with both existing and upcoming regulation regimes.
Great support from deltaconX that is always sensitive to our specific business needs is highly appreciated. – Danske Commodities

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