Most of the world’s crime involves money. Drug cartels, organized crime, weapons sales, political corruption, and human trafficking all rely on money movement through our financial system. There’s no better way to fight these criminals than to follow the money and choke off the profits.
Our mission at Hummingbird is straightforward: Fight financial crime. We do this by building tools to help financial institutions investigate suspicious behavior and communicate it to law enforcement.
Move Fast. Break Nothing. OpenFin is the operating system for enterprise productivity, enabling app distribution, workspace management and workflow automation. Used by 90% of global financial institutions, OpenFin deploys more than 3,500 desktop applications to more than 2,400 buy-side and sell-side firms.
OpenFin investors include Bain Capital Ventures, Barclays, CME Ventures, DRW Venture Capital, HSBC, J.P. Morgan, NYCA Partners, Pivot Investment Partners, Standard Chartered and Wells Fargo Strategic Capital among others. The company is based in New York with offices in London and presence in Hong Kong.
n our first edition of The GRC Red Flag Series, Michael Rasmussen is joined by Mukund Umalkar, Head of RegTech Partnerships of ING to discuss the future of GRC technology and their GRC Orchestrate Project in addition to all the latest news across governance, risk and compliance.
Michael will sit down with Mukund from ING to discuss one of the most fascinating projects he has ever interacted with, the GRC Orchestrate project is defining the next-generation of GRC architectures to integrate best of breed solutions to deliver the greatest value.
I have a dream. It is futuristic, but realistic. It involves a Star Trek chair and a bank of monitors. It would involve tracking the global flow of funds in close to real time, in much the same way as happens with global weather systems and global internet traffic. Its centerpiece would be a global map of financial flows, charting spill overs and correlations.
Andy Haldane, Bank of England Chief Economist
Take this quote from Andy Haldane of the Bank of England and replace ‘flow of funds’ with ‘risk and compliance’ and you have the exact concept of what ING Labs is architecting with their GRC Orchestrate Project led by Ian Hollowbread and Mukund Umalkar.
Orchestrate is intended to operate as a new entity, offering the market a RegTech platform similar to an ‘App Store’ to both find and consume pre-validated RegTech solutions; in addition providing a technology framework for these solutions to connect seamlessly across each other and alongside existing legacy architecture.
Orchestrate aims to remove unnecessary complexity in a world of constant change, support digital transformation and help deliver ‘end-to-end’ enterprise compliance.
• Customers – open and accessible, client centric design principals
• Culture – user experience first, agile and change resistant
• Connection – modular thinking, simple and homogenous, ecosystem agnostic