IRESS invests in Australian regtech
To meet changing compliance obligations, it is vital for companies to seek additional support in risk management through software offerings and data analysis that will monitor potential issues, according to IRESS.
IRESS has announced a partnership with Australian-owned regtech firm Lucsan to deliver regtech solutions to clients through products including IOS, XPLAN and Acurity.
“Financial services is subject to increasing supervision and compliance obligations, including in IRESS’ key areas such as trading, financial advice, superannuation, and lending,” said IRESS chief executive, Andrew Walsh.
“To meet these obligations effectively and efficiently, sophisticated and integrated software is required to control and limit events proactively.
Walsh said Lucsan has a strong track record in risk and data analytics within financial services and IRESS’ investment in the partnership would focus on the firm’s organic and non-organic growth.
Commenting on the pairing of IRESS and Lucsan, Lucsan group executive chairman, Harold Lucero, said: “Our…partnership with IRESS provides us with a solid platform for continued growth and an increased focus on leading edge regtech innovations.”
“As levels of regulation rise and global focus on data and reporting increases, the ability to harness the technology offerings of this partnership will elevate the abilities of enterprises to transform their ongoing regulatory compliance practices.”
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