FundApps and SteelEye announced a merger, combining
their expertise to build an all-in-one compliance platform. The integration
aims to reshape how financial firms manage compliance by merging trade
surveillance, data analytics, monitoring, and reporting into a singular
solution.

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This integrated approach aims to provide clients with a unified way to manage the increasing complexity of global regulatory demands.

Bridging Gaps in Compliance with a Unified Platform

FundApps specializes in compliance monitoring and
regulatory reporting, tracking assets worth trillions of dollars across
multiple jurisdictions. SteelEye focuses on trade and communications
surveillance, utilizing advanced algorithms to detect risks such as market
manipulation.

Together, the two companies intend to eliminate the
fragmentation caused by multiple disconnected systems. Their joint platform
will provide end-to-end coverage of the compliance lifecycle, offering clients
continuous oversight and control.

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The merger is supported by an additional equity
investment from FTV Capital, which had earlier invested in FundApps.
Representatives from FTV Capital have joined the FundApps board of directors,
underscoring their commitment to the combined entity.

Backed by Strategic Investment and Expanding Global
Reach

The enlarged company will serve approximately 350
clients, including banks, asset managers, hedge funds, and commodities firms,
spread across 18 countries. With offices in London, New York, Singapore, India,
and Portugal, the group anticipates combined annual recurring revenue nearing
£50 million.

While financial terms were not publicly disclosed,
advisory support for SteelEye came from Perella Weinberg Partners. The combined platform is designed to monitor and
analyze trades, communications, orders, news, and market data, providing comprehensive insights.

Both companies leverage cloud-based technology and
regulatory expertise to help clients reduce risk, proactively manage regulatory changes, and maintain compliance integrity at scale.

FundApps brings experience in monitoring over $30
trillion in assets, while SteelEye has developed algorithms that proactively
detect compliance breaches. Their integrated model aims to enhance automation
and transparency, addressing regulatory challenges more efficiently.

This article was written by Jared Kirui at www.financemagnates.com.

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