Revolut awards RegTech contract to CUBE

CUBE has won a new contract to supply FinTech Revolut with regulatory technology.

The new deal will focus on horizon scanning and managing regulatory change at a global scale.
Under its terms, Revolut will have unrestricted access to CUBE’s regulatory intelligence platform.

CUBE’s AI continuously monitors every issuing body automatically, which the company said ensures close-to-real-time notifications of all regulatory announcements, enforcement actions, speeches, and other regulatory updates.

“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,” said Harry Gill, group of regulatory compliance at Revolut. “We are pleased to be working with CUBE and excited about the continued use of this technology to solve for our compliance needs ahead.”

The move comes after a period where the challenger bank’s valuation has grown rapidly. In July, Revolut confirmed an $800 million funding round at a $33 billion valuation, this investment placed the challenger bank among Europe’s most valuable FinTechs.

“Revolut has grown at an incredible pace, and made the banking industry sit up and take notice,” said Ben Richmond, founder and chief executive, CUBE. “Being selected by a trailblazer such as Revolut, to help them build out their compliance architecture, is phenomenal.

"We are delighted to be working with such an innovative company, and look forward to continuing to work together in the years to come.”

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