Baringa targets RegTech market with SteelEye partnership

Baringa Partners, a European independent management consulting firms, has partnered with compliance and data analytics company SteelEye.

The firm said it has identified compliance as a huge opportunity in terms of technology investment because financial services firms want sustainable solutions that can be ‘plugged in’ instantly. Having identified London as ‘a hotbed for RegTech start-ups and developments in big data technologies’, Baringa has formed a partnership with SteelEye to target the market.

Chris Nott, partner at Baringa, said: “SteelEye has proven to be a really innovative RegTech firm in the financial services regulatory and compliance space. We are excited to now be working with SteelEye to help our clients not only meet their regulatory obligations, but also gain a strategic advantage from the data that the regulations prescribe they must now maintain. I truly believe that firms who embrace this and invest well in technology will gain a genuine advantage in the market place.”

SteelEye is a regulatory compliance technology and data analytics firm that which provides assurance to firms that their record keeping, trade reporting, trade reconstruction and best execution capabilities are both accurate and compliant with MiFID II. The technology also provides a data analytics capability that can be leveraged for business benefits.

Its secure data storage platform offers encryption at rest and in flight and best-in-class analytics to help financial firms meet regulatory obligations and gain additional insights into their business activities.

The collaboration combines Baringa’s deep cross-industry experience and market insights with SteelEye’s market leading technology to provide customers with a ‘best in class’ solution that can be on-boarded quickly and with minimal disruption to day-to-day operations.

“SteelEye has the best communications and trade record keeping solution, combined with the most advanced trade reconstruction capabilities available in the market,” added CEO Matt Smith.  “We wanted to partner with Baringa to leverage their deep regulatory and capital markets expertise. This will ensure that we are in a position to provide a solution that gives our clients a platform for compliance that, importantly, can be leveraged to drive the business benefits our software can provide.”

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