Xalles Holdings to Expand Financial Accounting Compliance Automation & Risk Management Solutions with Protominds Acquisition
February 04, 2021 08:00 ET | Source: Xalles Holdings Inc. Xalles Holdings Inc.
WASHINGTON, DC, Feb. 04, 2021 (GLOBE NEWSWIRE) via NewMediaWire – Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, will acquire Protominds, Inc. (“Protominds”) and its wholly owned subsidiary Protominds Software Solutions Private Limited in a share purchase agreement.
Headquartered in Milpitas, California, and with offshore operations in India, Protominds is a leading fintech consulting and services company with a proprietary full-service regulatory cloud-based platform that offers reporting capabilities for post-audit financial transactions. The unified regulatory standards compliance solution is called FiNiCS. FiNiCS is a financial accounting compliance automation solution
North America Is Expected To Account For Largest Share Of Global Regtech Growth Through 2025
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., Feb. 4, 2021 /PRNewswire/ Regulatory Technology (a.k.a. RegTech) is any technology that aims to standardize regulatory processes, create unambiguous interpretations of the regulations, and, most important - automate the compliance process. RegTech is a sub-class of FinTech and has gained prominence since 2015. Rising penalties for non-compliance with regulations are anticipated to further fuel the growth. RegTech solutions with real-time compliance analysis help connect regulators and businesses while protecting the interests of consumers. The Institute of International Finance has defined RegTech as the use of new technologies to meet compliance and regulatory requirements more efficiently. RegTech involves the use of tools to enhance the stringency of regulations and minimize the compliance risks associated with the business. Acco
Palm Beach, FL – February 4, 2021 – Regulatory Technology (a.k.a. RegTech) is any technology that aims to standardize regulatory processes, create unambiguous interpretations of the regulations, and, most important automate the compliance process. RegTech is a sub-class of FinTech and has gained prominence since 2015. Rising penalties for non-compliance with regulations are anticipated to further fuel the growth. RegTech solutions with real-time compliance analysis help connect regulators and businesses while protecting the interests of consumers. The Institute of International Finance has defined RegTech as the use of new technologies to meet compliance and regulatory requirements more efficiently. RegTech involves the use of tools to enhance the stringency of regulations and minimize the compliance risks associated with the business. According to a study of the World Bank, a robust regulatory framework can help boost GDP growth by more than 2% annually. In addition to the ris