London-headquartered regtech Cube has acquired The Hub to boost its artificial intelligence regulatory (ARI) technology.
Cube’s ARI RegPlatform automates regulatory intelligence for organisations, which, it claims, reduces risk and compliance operating costs.
It will integrate The Hub’s technology with its RegPlatform to provide additional capabilities for customers to automate their regulatory compliance processes.
The acquisition follows Cube’s recent strategic growth investment from Bregal Milestone to further its geographical expansion.
CUBE founder and chief executive officer, Ben Richmond, commented: “The acquisition of The Hub marks the first in what is expected to be a number of purposeful acquisitions for CUBE as a consolidator of regulatory compliance focused firms and technologies in what is a highly fragmented regtech market.
“The Hub’s team and solutions are best in class and represent many synergies with CUBE’s own capabilities.
Richmond added: “The current macro environment creates uncertainties for newer, less proven market entrants so it is ever more important that customers can be confident in selecting the right partner to support their long-term regulatory compliance strategy.”
Juned Jable, The Hub co-founder and chief executive officer, added: “We have partnered with CUBE for some time and see this as a natural next step in more closely aligning both firms’ AI-driven regulatory technology.”