SEI Exploring Blockchain with Coinfirm in Their New Regtech Incubator “Codify”

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The leading global financial services company recently launched Codify, a Regtech incubator with multiple startups partaking including the blockchain innovator

As regulations become more complex along with the disruption of Fintech, the urgency for effective Regtech grows and this is reflected in the massive interest in the field over the past year. Also a tech solution provider in the financial market, SEI (NASDAQ: SEIC) is taking a strong role in the fast growing sector to help financial firms' best address the increasingly complicated regulatory landscape. SEI’s Codify incubator has brought in three leading Regtech startups for its launch. Recognized as a Top10 most influential Regtech company, Coinfirm joins Codify along with Neuroprofiler, the risk-assessment firm categorizes investors’ psychological profiles using behavioral finance techniques, and Enforcd, which uses enforcement data, news, and insights to better identify regulatory risks.

With their position in the blockchain market, Coinfirm is bringing with them a technology set to be one of the more important technological innovations for Regtech and the financial system as a whole where it could cut infrastructure and compliance costs for financial companies by 50% according to some estimates. Coinfirm, already a recognized influencer in the blockchain and regtech spaces has taken a particular leap towards redefining compliance and regulatory processes. In a previous sit-down with Chris Skinner, Co-Founder/CEO Pawel Kuskowski stated that with a blockchain compliance platform like Coinfirm, AML effectiveness could increase from the current 2% catch rate to 90% or above while also turning compliance into a more automated and efficient process. Coinfirm and SEI are working together to bring such types of benefits of blockchain for their clients and partners and across the entire industry.

“As domestic and international regulation become more complex for all types of institutions, the relevance of this field of work will continue to grow. SEI launched Codify to support promising early-stage businesses that are developing tech solutions to address the world’s growing and demanding regulatory requirements,” stated Ahsan Mallick, general counsel at SEI UK and Executive Sponsor of Codify.

Pawel Kuskowski has expressed his positivity for SEI’s approach towards blockchain and Regtech with Codify.

“We’ve received great support from SEI and have been really impressed by their open and progressive approach towards bringing the benefits of blockchain technology to the wider financial market. This technology is a once in a generation opportunity and we’re glad SEI recognized how important what we’re doing is and how we can mutually build great opportunities,” said Kuskowski.

Coinfirm is most well known for their Blockchain AML & Compliance Platform but are also using their platform for multiple big data analytics purposes and creating solutions like their Document Verification Platform that is currently in the pilot phase with two major banks. With SEI, Coinfirm continues their work with larger players to bring blockchain into the mass market while SEI continues to bring new value and solutions to their operations and clients.

About SEI

SEI (NASDAQ: SEIC) is a leading global provider of asset management, investment processing, and investment operations solutions for institutional and personal wealth management. They help professional wealth managers, institutional investors and private investors create and manage wealth -- and enable their long-term success by providing solutions that are both comprehensive and innovative. Today, SEI serves about 8,200 clients, including banks, trust institutions, wealth management organizations, independent investment advisors, retirement plan sponsors, corporations, not-for-profit organizations, investment managers, hedge fund managers, and high-net-worth families.

About Coinfirm

Coinfirm’s Blockchain AML & Compliance Platform uses proprietary algorithms and big data analytics to provide structured actionable data that increases efficiency, reduces costs and streamlines compliance to near automation. Recognized as a leader in their field and ranked among the most influential blockchain and regtech companies, Coinfirm serves as a foundation for the safe adoption and use of blockchain. In addition, Coinfirm develops dedicated blockchain solutions such as the DVP (Document Verification Platform). Currently being piloted by multiple banks and financial institutions, DVP is a straightforward blockchain solution to register and verify the authenticity of any type of document or file.

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