KRM22, the risk-management platform founded by Keith Todd, has signed a deal to distribute and support Ascent Technologies’ regulatory technology platform.
Under the terms of the teal, KRM22 customers will be able to log-on to the Ascent system through the KRM22 product while support will be provided directly by KRM22.
Todd said the Ascent product was a “very good example of how technology can be used to eliminate a lot of the manual tasks involved in regulatory compliance”.
Ascent’s software-as-a-service product helps capital market clients build, manage and automate their own regulatory compliance programmes.
It uses machine learning and predictive analysis to analyse the multitude of rules and regulations from sources including exchanges, primary regulators and other laws and guidelines across the globe.
KRM22 listed on AIM in April raising just over £10m to invest in risk-focused technology businesses and develop a proprietary “risk cockpit” to consolidate legacy systems.
KRM22 is not taking an equity stake in Ascent Technologies and will seek to do further distribution deals with third parties, the firm said.
“We will offer our customers seamless integration to third party technologies as well as our own native products,” said Todd.
“The nature of the risk marketplace is that there are very many highly sophisticated component tools across the spectrum and we can bring these top-of-the-class technologies to our customers through a single portal.”
KRM22 acquired a majority stake in Cinnober’s Irisium early in June.