Category: News

RegTech 100 for 2019 recognized ume as one of the world’s most innovative solution

The RegTech 100 for 2019 is announced to recognize the pioneering companies transforming compliance, risk management and cybersecurity

The world’s most innovative technology solution providers that address the challenges of dealing with regulatory issues within financial services, were announced today by RegTech Analyst, a specialist research firm.

The RegTech (regulatory technology) industry has seen huge growth in the last two years as banks and financial institutions grapple with the unrelenting pace of regulatory change across all jurisdictions. Over $4bn has been invested in RegTech companies since the beginning of 2016.

As a result, this year’s process to identify the leading 100 companies in the RegTech space was even more competitive than last year. A panel of analysts and industry experts voted from a longlist of 824 companies produced by RegTech Analyst, compared to a list of 416 last year. The finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the compliance function.

Fifty-five new companies entered the RegTech 100 this year. The risk management category saw the biggest increase with an additional 10 companies gaining RegTech 100 status to occupy 47 places on the list, while companies offering solutions that address MiFID II regulation in Europe saw a 10% increase in their number to take a total of 38 places.

European and North American companies still dominate the RegTech 100 with 60% and 29% of places, respectively. Within Europe, UK companies enhanced the country’s leading position on the list with 30 representatives compared to 26 last year. The emergence of a thriving global RegTech ecosystem has seen companies from another 21 countries make the list, including Ireland, Switzerland, Singapore, India and Luxembourg.

“The impact of the most innovative RegTech companies will be measured in billions of dollars over the next few years,”according to Mariyan Dimitrov, head of research at RegTech Analyst. “RegTech 100 companies offer solutions that enhance processes across the entire compliance function, including onboarding verification, risk management, communications monitoring, information security and reporting by using the latest technologies such as artificial intelligence, blockchain, natural language processing and biometrics.” 

A full list of the RegTech 100 is available at www.RegTech100.com. More detailed information on all companies as well as in-depth industry analysis is available in the Global RegTech Review (www.GlobalRegTechReview.com).

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ume in the top 50 start-ups ‘made in Luxembourg’ to follow in 2019

Paperjam magazine puts at the heart of its edition of November 2018, 50 start-ups “made in Luxembourg” to follow in 2019. Fintech, regtech, application, artificial intelligence, software, virtual reality and others …

The editorial staff decided to call on a panel of 11 personalities with complementary expertise – investors, entrepreneurs, incubators, public bodies – to help them make their choice. If the definition of a start-up is debated, Paperjam retains these criteria: a company having a maximum of five years, proposing an innovative solution that does not exist on a large scale in the market, and which has development ambitions international.

ume is very pleased to have been selected by this jury!

http://paperjam.lu/news/ume-le-tripadvisor-de-lindustrie-des-fonds

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ume selected for Salesforce Accelerate FinServ

Salesforce Accelerate is thrilled to kick-off its program in Europe and blaze a new trail with an inspiring shortlist of companies innovating in the FinTech and InsurTech spaces. The program will kick off with its first workshop, taking place at central London’s Salesforce Tower on September 3rd.

Salesforce Accelerate is a four-month virtual program designed to provide the insights and support that companies need to strategically align with Salesforce and accelerate their time-to-market with AppExchange. Previously known as the Salesforce Incubator, this program has already successfully graduated more than 40 companies. The program will also include three in-person workshops, taking place in London, Dublin, and Paris over the coming months.

 

Over 87% of Salesforce customers use AppExchange solutions to extend their success with their customers. A strong partner ecosystem is the number one differentiator in today’s digital world and that’s why we couldn’t be happier to welcome these 14 companies into the program. Let’s win big together.

– Anne DelSanto, EVP and GM Platform, Salesforce

Financial Services was one of the first industries to experience the impact of the new generation of clients demanding personalized, high-value and easy to use services. It is also a highly regulated space, which means both established and new players need to share the fundamental values of trust and transparency. ume is very proud to have been selected for this challenging programme amongst 13 other innovative companies pioneering new uses of technology and disruption in Financial Services, all driven by a focus on customer experience.

 

We are dedicated to helping our financial services customers delight their customers by letting them focus on the experience rather than the product. And, as the industry continues to be disrupted, that’s never been more important for our customers. These fourteen companies are examples of the amazing fintech and insurtech solutions being developed across Europe and Israel, reinforcing this region’s position as an innovation hub.

– Joaquin de Valenzuela, Head of Financial Services EMEA, Salesforce

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The Luxembourg CSSF clarifies the oversight requirements of management companies on fund distributors

The Luxembourg CSSF has issued on 23rd August the CSSF Circular 18/698 that set all substance related to the provisions expected for governance and organizational structures of Luxembourg investment management companies.

The requirements applicable to the oversight of key delegated functions, including marketing and distribution
are of particular interest.

It is expected that the investment management company develop a continuous risk-based approach for the oversight of its distribution network.

This approach needs to be based on
1. the types of distributors/ intermediaries as well as information on the country of establishment of the intermediary and the AML / CFT legal and regulatory  ramework applicable therein, the authority and the supervisory regime which is applicable, the ownership and the control structure of the intermediary;

2. obtaining sufficient information to fully understand the nature of the intermediary’s activities and to assess, on the basis of information available to the public, its reputation and the quality of the supervision to which it is subject;

3. obtaining the documentation required on AML / CFT obligations when entering into an intermediary relationship (“Know Your Intermediary”);

4. the distribution channels; for example, the use of unclear or complex distribution channels and cases where the intermediary is located in a country or territory
with a higher risk, are high risk factors requiring implementation of enhanced monitoring of these intermediaries;

5. country risk.

Click here to see the full analysis

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ume won the Temenos Innovation Jam Luxembourg

Each year, Temenos runs a competition to find the best fintech firms. This competition takes the form of regionalized demo-based events (Abu Dhabi, Amsterdam, Dublin, Geneva, Hong Kong, London, Luxembourg and Miami).
The Temenos Multifonds Innovation Jam invites some of the newest and most interesting fintech solutions, provides an informal forum for discussing how these innovative solutions can be applied to solve specific business problems across the fund management industry. Fintech providers showcase their latest solutions and compete for a place in the final at the FundForum Fintech Innovation Jam in Berlin, in June 2018.
On 24th April, ume won the Temenos Innovation Jam Luxembourg, winning both on the votes of the jury and the public.
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ume selected for the Fintech Europe 2018 Village Capital

Fintech Europe 2018 is a venture development program for entrepreneurs creating technological solutions that help financial institutions, financial markets, regulators and consumers interact with financial products and services in the digital age.

During the Spring of 2018, Village Capital, PayPal and Middlegame Ventures will scale and support innovative Fintech ventures to foster a new generation of fully compliant financial solutions tailored for the digital age and centered on the financial health of retail and commercial consumers.

 

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ume graduated from the Fit4Start programme – Autumn 2017 edition

On March 12, 2018, Luxinnovation announced the Autumn 2017 Graduates from the Fit 4 Start programme.

Fit 4 Start is Luxinnovation’s flagship programme of coaching and weekly follow-up by “Lean Start-Up” experts. The quality and the success of the core ingredients of the programme are the selection process, coaching, financial support and international visibility.

Of the five participants, three graduated: ume solutions (know your fund distributors), Van Hack (connecting tech talent), and SEE MORE (augmented reality for painting on wall and more). 

read more on luxinnovation.lu

 

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Luxinnovation spoke with CEO Laurent Denayer

Luxinnovation spoke with CEO Laurent Denayer.

How did you first hear about Luxinnovation and our Fit 4 Start programme?

We heard about the Fit 4 Start programme in a discussion we had with Luxinnovation about public aid and coaching support. Fit 4 Start actually provides these two features.

What was your biggest achievement?

All our achievements are linked to our clients’ satisfaction. We have managed to build a good solution that is matching a market need. Winning the award of the 2017 best Fintech Startup at the Luxembourg Finance Innovation Summit has further reconfirmed this.

Read the full interview here

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ume awarded at the Luxembourg Finance Innovation Summit 2017

On November 30th, more than 250 finance professionals gathered at the Etablissement Namur for the 2017 edition of the Luxembourg Finance Innovation Summit. After a series of conferences on the topics of innovation in insurance, financial services and payments, and an insightful startups session, the Luxembourg Finance Awards were distributed to acknowledge and recognized the best practices and solutions available in the Grand-Duchy of Luxembourg.

ume won the Finance Startup of the Year as it enables to save up to 90% of the time and efforts on due diligence process and helps make better informed decision and reduce risks related to fund distributors.

 

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