Automated intelligence regtech Cube acquires The Hub
Automated regulatory intelligence (ARI) firm Cube has acquired fellow regtech The Hub for an undisclosed sum as it looks to expand both its product capabilities and market reach.
Cube acquires The Hub
Cube intends to integrate The Hub’s artificial intelligence-powered solutions for capturing and monitoring unstructured regulatory data into its RegPlatform offering. It says this will “provide additional capabilities for customers to automate their regulatory compliance processes, reducing risk and compliance operating costs”.
Cube founder and CEO Ben Richmond says the deal to buy The Hub marks the first in what is expected to be a series of acquisitions, as the firm looks to accelerate consolidation in what is a “highly fragmented” regtech market.
“The current macro environment creates uncertainties for newer, less proven market entrants, so it is ever more important that customers can be confident in selecting the right partner to support their long-term regulatory compliance strategy,” Richmond adds.
Cube’s ARI tech tracks changing or emerging regulations and uses AI “to automatically enrich and map them to customers’ policies, procedures and controls”, enabling compliance teams to “significantly cut” costs and reduce risk around complex regulatory change management.
