Deal Adds Unique Machine Learning-Enabled eComms Surveillance and Risk Assessment to ACA’s Popular Regtech Software
ACA Group has acquired Catelas, a machine learning-based electronic communications and investigations platform, adding Catelas’ capabilities to ACA Group’s popular regtech platform, ComplianceAlpha. Terms of the deal were not announced.
More than 3,500 financial services firms use ComplianceAlpha, the flagship product of ACA, which was founded in 2002. Founded in 2007, Catelas’ platform intakes eComms, trade alerts and voice calls to isolate potential business risks. The acquisition is expected to enhance the surveillance capabilities of ComplianceAlpha by centralizing several monitoring functions into a single platform powered by Catelas’ patented automation technology.
“Electronic communications surveillance is critical to compliance and is becoming increasingly complex as firms move to Microsoft Teams, WeChat, Slack, Zoom and other virtual communications tools,” Catelas founder Eddie Cogan said in a news release. “Globally, firms are at risk if they are not diligent about tracking and surveilling activity alongside personal and firm investments.”
The regtech market is poised for rapid growth over the next few years, with a Facts and Factors study projecting it will reach more than $33 billion by 2026, a five-fold increase from 2019.
About ACA Group
For more information, visit www.acaglobal.com.
