Following this collaboration, Cable will offer its products in order to provide the bank with improved visibility and comprehensive compliance insights. Furthermore, it will use its automated assurance and testing capabilities within the financial institution’s Banking-as-a-Service (BaaS) platform.
The bank will also leverage Cable’s platform in order to deploy automation and technology for financial crime assurance, oversight, and testing, which is set to improve its compliance and risk management offerings throughout its programme and in its BaaS service for fintech partners and collaborators.
Cable will also provide its Partner Hub solution, which was designed to offer firms and collaborators a complete compliance infrastructure. This includes automated risk assessments, quality assurance, automated assurance, reporting, and management information.
In January 2023, US-based financial institution Axiom Bank announced its partnership with Cable in order to automate financial crime compliance development for the bank’s fintech programme. After incorporating the financial crime compliance testing platform, Axiom Bank was given the possibility to grasp automated assurance, as well as oversight processes across multiple programs offered by its partner.
The collaboration aimed to offer the bank the opportunity to enhance visibility across and into each of the programmes that are part of the financial institution’s structure. This enabled the company to respond appropriately, fast, and efficiently to any possible issues, concerns, problems, and emergencies that might occur, as well as to give their partners an improved client experience.
In addition, through a suite of tools and services concentrated on financial crime requirements (such as tech-enabled risk assessments, management information, automated assurance, reporting, or quality assurance), Cable’s platform was set to give its products on the market in a more secure and efficient manner.
Earlier in the same month, UK-based credit card startup Yonder collaborated with the automated financial crime assurance provider for enhancing the overall financial crime compliance and oversight processes. Throughout this collaboration, the modern lifestyle rewards credit card company was aiming to automate its financial crime assurance and oversight by using the platform provided by Cable.
Yonder focused on scaling its member base, while the company needed a service that could improve the manner in which it ensured its regulatory compliance as it expanded, without any considerable headcount increases. Moreover, Yonder aimed to address any issue or emergency immediately, as well as to meet their regulatory requirements and focus on improving their overall customer experience.
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