Compliance Solutions Strategies (CSS), a regtech platform for financial services firms, has snapped up SaaS-based regulatory reporting services provider AMFINE.
The acquired entity asset managers, asset servicers and insurers in Europe. It has offices in Paris and Luxembourg.
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Transaction details
The deal value was not made public.
The acquisition is said to bolster CSS’s position in the regtech space with expertise in fund reporting, transaction reporting, investment monitoring and compliance management.
The deal brings AMFINE’s regulatory reporting solutions, including the production of UCITS KIIDs and PRIIPs KIDs, fund prospectuses and marketing factsheets, to CSS.
CSS said that the deal will result in an end-to-end fund reporting solution, with integrated data management, regulatory reporting software and document production capabilities.
The deal is also said to expand the scale and reach of CSS.
CSS CEO Doug Morgan said: “AMFINE bring highly complementary product capabilities and a stellar reputation earned by helping clients manage complex reporting requirements.
“With both organisations sharing a strong commitment to customer success, we’re excited to work together to enhance our global regulatory reporting solution and address a broader scope of our clients’ compliance needs.”
CSS has offices in New York, London, Dublin, Amsterdam as well as Stockholm.
At present, CSS caters to more than 600 software clients in the financial services space.
They include hedge funds, traditional asset managers and fund administrators.
Other regtech developments
In 2017, Nasdaq acquired Sybenetix, a UK-based regtech provider.
Sybenetix leverages sbehavioural analytics to solve surveillance challenges within the asset management industry.
Meanwhile, last year, Broadridge Financial Solutions partnered with FundsLibrary to develop new regtech solutions for wealth and asset managers in Europe.
The partnership will focus on creating platforms to help wealth and asset managers comply with the new regulations under MiFID II Ex-Post Costs and Charges and Solvency II.
