Throughout this collaboration, BankProv will be enabled to further improve its financial crime compliance solution with secure and automated financial crime assurance and testing offerings.
As a Banking-as-a-Service provider that specialises in technology-driven banking products, BankProv aims to integrate with Cable in order to further strengthen and accelerate its plan to leverage technology in the process of reducing financial crime.
In addition, Cable’s financial crime effectiveness testing platform will enable the company with access to its purpose-built tools, including automated risk assessments, quality assurance, automated assurance, reporting, management information, and more. This aims to allow BankProv to meet the needs, expectations, and demands of its clients, as well as optimising its overall financial crime regulatory compliance at the same time.
UK-based financial crime assurance provider Cable had multiple partnerships and launches in the last couple of months, covering several different geographic areas around the world.
At the beginning of October 2023, the company announced its collaboration with BHG Financial in order to deploy automated financial crime assurance, as well as testing capabilities in its compliance program.
Following this partnership, BHG Financial was set to integrate Cable’s financial crime effectiveness testing platform, aiming to optimise its financial crime compliance program with automated assurance and testing offerings. This was set to further strengthen BHG Financials’ regulatory compliance, as well as its commitment to use the power of analytics, data, and technology.
Earlier in July 2023, Cable announced that it has become a member of the Banking-as-a-Service Association in order to optimise and accelerate the development of BaaS banking. According to the official press release published at the time, the BaaS Association represented more than 80% of the BaaS sponsor banks, and it had an important part in the process of bringing together industry stakeholders. This aimed to support, promote, and offer services to the BaaS industry in a secure manner, as well as in compliance with current regulations and laws of the industry.
The association focused on developing a robust ecosystem that gave companies such as Cable the possibility to influence the future of BaaS banking in a positive manner. After becoming a BaaS Association member, Cable was enabled to join an ecosystem of like-minded enterprises and access new opportunities for collaborations and knowledge-sharing sessions.
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