Revolut has adopted CUBE for regulatory intelligence monitoring. The platform harnesses artificial intelligence (AI) to continuously monitor every issuing body, producing close-to-real-time notifications of all regulatory announcements, enforcement actions, speeches and other regulatory updates.
Harry Gill, group head of regulatory compliance at Revolut, says: “Revolut’s global horizon scanning and regulatory mapping processes are powered through a seamless API integration with CUBE’s RegInsight and RegBook, enabling Revolut to grow at pace whilst keeping up with the ever evolving regulatory landscape.”
CUBE was born out of the 2008 financial crisis. It combines technology and automation with expert-validated insights to enable global financial institutions to streamline their complex regulatory change management processes.
It harnesses leading techniques in AI, including machine learning and natural language processing, to capture and classify all regulatory content across 180 countries in 60 languages. It maps this to customers’ compliance frameworks, from financial crime to cyber, privacy, tech risk and others.
Ben Richmond, founder and CEO of CUBE, says that being selected by “a trailblazer such as Revolut”, to help it build out its compliance architecture, is “phenomenal”.
Revolut’s focus on a single global financial app has seen it grow since its launch on 2015 to more than 16 million customers around the world and more than 150 million transactions a month.