UK regtech Cube opens London office
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The new cutting-edge AI Centre of Excellence, RegBrain AI Lab, signals the multi-million pound investment CUBE is making to advance the role of innovation and AI in regulatory intelligence, compliance and risk across the financial services sector and adjacent regulated industries. Alongside the unveiling of its new headquarters, CUBE has made a commitment to create 200 jobs over the next 12 months, half of which are expected to be based in the UK.
The opening of CUBE's new headquarters follows a transformative year of strong growth, supported by its strategic partnership with Hg, a leading investor in European and Transatlantic software and services businesses. CUBE has increased its revenue by over 200% in the last year and now serves 1,000 customers globally, and has significantly grown its global team footprint – which now stands at 700 employees across 20 countries. In the year CUBE also completed two landmark US-based acquisitions acquiring three regulatory intelligence businesses.
Commenting at the launch of CUBE's new global headquarters, CUBE's Founder & CEO Ben Richmond, said: 'We chose an iconic City of London location for our new global headquarters as we believe it's the perfect place to continue CUBE's growth. London is unquestionably a world-class tech hub and a global leader for AI and innovation. We're proud to further build out our global operations and investment from the UK and aim to be a benchmark for building successful global tech businesses here. Our performance in the last year highlights the progress we have made so far.'
Since launching in 2011, CUBE has become a leading global regulatory technology company partnering with some of the largest financial institutions globally who leverage CUBE's platform to streamline their complex regulatory intelligence and change management processes. In addition, CUBE recently launched RegPlatform™ Intel, its latest purpose-built solution to help financial services firms in the mid-market remain compliant in today's ever-changing global regulatory landscape.
Richmond continued: 'We've experienced considerable growth over the past year and we wanted a global HQ that reflects the ambition and scale of our expanding team. We want to reimagine the future of work and how we collaborate with customers, which is why we created a space that fosters partnership and drives continuous technological innovation. Our new AI Centre of Excellence – RegBrain AI Lab – will be at the forefront of AI innovation. We will continue to deliver smart, agile solutions for our customers in response to the rapid pace of global regulatory change.'
CUBE's base of strategic and long-term customers will benefit from open access to the facilities in its new global headquarters, which not only includes the RegBrain AI Lab but also an innovative RegTheatre and RegCinema. These have been purposefully designed to drive collaboration with industry participants across the financial services sector to progress the role of innovation and AI in compliance and risk.
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