SteelEye, a compliance technology and data analytics firm, and MAP Financial Technologies Limited, (MAP FinTech), a specialist in regulatory reporting solutions, have formed a research and development partnership.
The partnership will focus on the two firms’ complementary areas of regulatory reporting, specifically relating to EMIR, MIFID-II/MIFIR and Best Execution solutions.
SteelEye has developed an intelligent data engine with analytics that provides insights to firms beyond the regulatory dimension with an ability to view, search and analyse structured, unstructured and semi-structured data through a single lens. This makes regulatory reporting simple and seamless to implement, providing a competitive advantage to firms, whilst also supplying further specialised solutions for MIFID II/MIFIR, Best Execution, Trade Reconstruction, Record Keeping and Surveillance.
MAP FinTech is part of one of Europe’s largest financial services advisory groups, MAP S.Platis, and is a specialist in EMIR reporting for online brokers and one of the very first to have reported under EMIR. Since that time, MAP FinTech has focused on developing fully-automated MiFID, MIFID-II/MIFIR, FATCA and CRS solutions to complement its fully-automated EMIR reporting system. The reconciliation, validation and monitoring capabilities of its Polaris platform make it a very useful tool for compliance officers.
The respective emphasis of both SteelEye and MAP FinTech on facilitating regulatory compliance through advanced technology helps to reduce the cost, complexity and risk faced by financial markets firms. The new collaborative partnership holds much promise for current and prospective clients worldwide.
Matt Smith (pictured), CEO of SteelEye, says: “We are delighted to be working collaboratively with MAP FinTech, providing a clear aim of further improving our clients’ ability to cope with their onerous regulatory burden. Building on SteelEye’s leading technology, we are supported by one of Europe’s principal financial services advisory groups. Together we will be able to provide greater depth and breadth of reporting expertise to ensure that firms not only remain compliant, but are able to leverage their data for the benefit of their own businesses.”
Dr Stelios Platis, founder and Chairman of MAP S.Platis Group, adds: “We are very pleased to be working together with SteelEye to develop the next generation of data analytics and essential tools for the financial services industry. Beyond our individual efforts to provide the tools for our clients to comply efficiently and economically with the onerous financial regulatory requirements, our joint goal is to create a competitive advantage for our clients via such tools.”
