Fidelity Investments jumps into ‘regulatory technology’ space

abdelaziz Fathi

Fidelity Investments, which claims to have 25 million retail accounts, has launched its RegTech business to offer support to financial institutions looking for tech-driven ways to deal with the huge surge in compliance demands.


Called ‘Saifr,’ the regulatory technology firm offers two solutions, SaifrReviewTM and SaifrScanTM. The combined offering enables greater collaboration between marketing and compliance teams to create faster compliant communications, while dealing with a host of regulatory overhauls.

With compliance demands growing and increasing in complexity every day, Saifr’s products offer a human-machine dynamic that enables computers to do the monotonous tasks of compliance review.

The statement further notes that smaller businesses may also find compliance or supervision of their own RegTech strategies more challenging due to their limited resource.

Following a successful trial period, SaifrReviewTM now helps customers automate their workflow across the thousands of documents used by compliance, legal, finance, operations and risk departments. As Saifr’s primary platform, it helps with content creation, including written materials, social media, audio, and video assets.

The second solution, SaifrScanTM, is an API-as-a-Service tool that analyzes and scores a firm’s communications and flags possible regulatory and corporate compliance violations in a detailed report.

Financial services struggle to stay compliant

“Ensuring that marketing materials are compliant with various regulatory rules requires multiple touchpoints inside and outside an organization, including content creation, compliance feedback, revisions, e-mail, and workflow hand-offs. As a result, the process can be inefficient and create the opportunity for friction and risk,” said Vall Herard, Managing Director of Saifr, Fidelity Labs.

“Saifr harnesses the massive amount of compliance data at its disposal and the power of deep learning models to augment the work of content creators and compliance professionals,” said Mona Vernon, Head of Fidelity Labs. “Saifr’s solutions streamline the compliance review process all in one platform to support efficient collaboration between marketing, legal, compliance and external consultants.”

While the financial services space is still largely addressing compliance in a manual way, employing thousands of people, FinTechs are making their way forward.

Fidelity believes that while the sector struggles to keep up and stay compliant, its solutions will provide a comprehensive audit trail and ensure compliance with the ever-shifting regulatory landscape.

The new RegTech solutions help address a number of different regulatory challenges amidst increasing demand for automated workflows. Saifr leverages Fidelity’s expertise to make compliance easier to manage through collaboration in a highly regulated industry.

Read this next

Retail FX

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro,

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.


Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.