Fintech Firm Scila Opens Regional Office in Singapore

Scila AB, a Stockholm-based independent provider of trade surveillance, anti-money laundering and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term technology, announced today the official opening of a regional office in Singapore. According to the press release, the firm seeks to cover the Asia-Pacific region with the manoeuvre.

“I am excited to be on-site in Singapore and Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term our regional office. We have a strong value proposition and can offer regional customers modern technology to detect market abuse, prevent money-laundering and manage risk,” Erik Holm, the newly appointed Head of Sales Asia-Pacific at Scila, commented.

The firm has been working with customers in the region since 2009, covering a wide range of customers in the country. With the new office, Scila will offer support for existing customers, as well as perform sales and business development-related activities. “Scila has supported regional customers for more than 12 years and has a growing customer base in Singapore and other key financial centers in Asia. The choice of Singapore as a regional hub was due to the excellent business environment, solid regulatory framework, and state-of-the-art financial infrastructure. We look forward to meeting customers in the region”, says Lars-Ivar Sellberg, the Executive Chairman and one of the Co-Founders at Scila, stated.

BearingPoint RegTech Rebranding

In other RegTech-related announcements, BearingPoint RegTech, one of the leading RegTech companies worldwide, announced its rebranding to Regnology in October. Earlier this year, the company reached an important milestone by joining forces with Vizor Software. The recent rebranding marks the independence from BearingPoint Group, which sold the RegTech business to Nordic Capital at the end of 2020.

Regnology offers innovative regulatory, risk and supervisory tech solutions. The firm connects financial institutions with regulators in an efficient and innovative manner. Regnology has seen significant growth in the last few years due to a surge in demand for its RegTech offering. The company has a total workforce of more than 770 employees at 17 different office locations in 12 countries.