SEI RegTech Incubator Adds Three

Announcements, Blockchain, FinTech | April 26, 2017 By:

Financial services company SEI has added three new companies to Codify, an incubator designed solely for financial regulation technology developers.

SEI, which serves about 8,200 clients, including banks, trust institutions, wealth management organizations, independent investment advisors, retirement plan sponsors, corporations, not-for-profit organizations, investment managers, hedge fund managers, and high-net-worth families, piloted its incubator program last year when it announced its support of RegTech firm Suade Labs. Suade Labs will continue to serve as a mentor to Codify participants. Applications are now open for entrants to join in the third quarter of 2017.

Three new companies have been selected to participate in Codify: Coinfirm, a blockchain technology company focused on compliance as a service; Enforcd, which uses global regulatory enforcement data, news, and insights to help firms accurately identify, reduce, and predict risk; and Neuroprofiler, a MiFID II-compliant customer risk profiler for financial advisors that uses the technology in behavioural finance to help investors determine their psychological investment profile.

The selected companies will be provided with office space in SEI’s London headquarters in Finsbury Square for at least four months, and receive mentoring from SEI employees and external experts, including Jason Boud, who runs the RegTech Forum discussion group and conference.

“As domestic and international regulation become more complex for all types of institutions, the relevance of this field of work will continue to grow,” said Ahsan Mallick, General Counsel at SEI UK and executive sponsor of Codify. “Leveraging SEI’s heritage in developing technological innovation for the investment industry, we created Codify to support promising early-stage businesses that are developing tech solutions to address the world’s growing and demanding regulatory requirements.”

“We’ve received great support from SEI and have been really impressed by their open and progressive approach towards bringing the benefits of blockchain technology to the wider financial market,” said Coinfirm co-founder and CEO Pawel Kuskowsk. “This technology is a once in a generation opportunity and we’re glad SEI recognized how important what we’re doing is and how we can mutually build great opportunities.”