SEI (NASDAQ:SEIC) today welcomed three new participants to Codify, the company’s new Regulation Technology (RegTech) incubator. Codify is the first London-based incubator designed solely for financial regulation technology developers.
SEI’s incubator provides participants crucial business resources and development opportunities:
Three new firms have been selected to participate in Codify::
Commenting on the launch of the incubator, Ahsan Mallick, General Counsel at SEI UK and executive sponsor of Codify said:
“As domestic and international regulation become more complex for all types of institutions, the relevance of this field of work will continue to grow. Leveraging SEI’s heritage in developing technological innovation for the investment industry, we created Codify to support promising early-stage businesses that are developing tech solutions toaddress the world’s growing and demanding regulatory requirements.”
SEI piloted its incubator programme last year when it announced its support of Suade Labs, a leading regulatory technology firm. Suade Labs will continue to serve as a mentor to Codify participants.
Diana Paredes, CEO of Suade, commented:
“We are really impressed by SEI’s determination to help foster innovation in this crucial segment of the U.K. economy. As a mentor to the programme, I look forward to working in collaboration with the selected entrepreneurs and developers, helping them reach their potential and fostering their creativity. This experience is valuable, and I am thrilled to work with SEI in contributing to the advancement of the U.K.’s burgeoning RegTech industry.”
Applications are now open for entrants to join Codify in third-quarter 2017. *SEI makes no commitment to invest or take equity from entrants.