Kerv | July 11, 2022
Kerv, the next-generation, customer-first cloud & digital transformation services provider, has announced the acquisition of the Communications Compliance Practice business of TDS Global Holdings, to significantly enhance its capabilities in FCA regulated compliance services. The acquisition will take the total Kerv business to over £60m turnover and more than 500 staff and create the leading compliance technology practice serving the UK’s Tier 1 banking and financial services sector.
The rebranded Kerv Communications Compliance Practice provides mission-critical communications compliance services to major global financial services organisations including 50% of the Tier 1 UK banks with 140,000 channels of compliance recording and more than 3 billion captured calls under management globally.
The business employs 40 staff based in Europe, Asia and North America with headquarters in London and a 24-hour global service operations centre in Cardiff. With annual turnover exceeding £10 million, the Practice is continuing to win new customers at pace, achieving a growth rate of 20% in the last financial year and forecasting to exceed that growth in the current period.
The acquisition will strengthen Kerv's existing proposition and capabilities around all aspects of compliance. The existing leadership of the Communications Compliance Practice, including CEO Brad Gorton, and Head of Strategy Paul Wilson, will join Kerv in senior roles, working closely alongside the management team at Kerv Collaborate, which already has a strong presence in the banking and financial services market. In addition, Kerv plans to retain all staff in the Practice and will continue to invest in the business to build on its growth trajectory and global presence.
The Communications Compliance Practice brings key core technology capabilities to Kerv and is a top-tier partner for the leading global compliance vendors including Verint (winning both European Compliance Partner of the Year and Deal of the Year awards) and NICE. The Practice enables its clients to ensure and assure compliance across all channels, including mobile, Microsoft Teams, Zoom and Symphony together with social media and messaging platforms, all delivered as a cloud manged service.
“Across all Kerv's practices we have a strong focus on helping our customers transform their business by migrating to and then transforming in the cloud. As we approach our second anniversary, this acquisition is another significant milestone in the development of the group. With the compliance world relatively slow to migrate to the cloud compared to other sectors, this is a transformation that is now happening at pace and Kerv is well placed to capitalise on this significant market trend.”
Kerv Executive Chair, Alastair Mills
Managing Director of the new Kerv Communications Compliance Practice, Brad Gorton, added: “We’re so excited to be joining the team at Kerv for the next stage of our journey. The opportunity to build on our global cloud capabilities, to extend our digital services and to accelerate investment in our automation, monitoring and proprietary technology by leveraging Kerv’s capabilities is fantastic for us and our customers. Bringing the rest of the Kerv group’s portfolio to our customers and providing our compliance expertise to the Kerv client base will help us accelerate our own growth even further.”
Combining the world’s best cloud-centric managed services with a uniquely collaborative way of working, Kerv helps businesses get ahead – and stay there. Our team of experts focus on the bigger picture - your business goals, and we create the right cloud solutions to help you achieve them. Our commitment to our customers leads to transformative solutions and our people are key to delivering excellence.
Prometheus | June 15, 2022
Prometheus Alternative Investments, Inc., a premier fintech social marketplace and investment opportunities provider, has announced the launch of a new digital fund marketplace and social network focused on alternative investment funds.
Based in Los Angeles, California, Prometheus was founded by hedge fund professionals. As a platform, it enables investors of all kinds to connect with well-known investment professionals through a built-in social network. The platform is democratizing access to a range of thought leaders and investment learning for all.
Prometheus is excited to launch an innovative approach that reaches out to accredited investors of all types. We are also excited to give fund managers the tools and platform needed to grow their targeted investor base through social content, networking, and transparency. Prometheus offers a chance for accredited investors to meet the people behind the fund and gives the opportunity to source new and credible investment ideas from trusted professionals. With our in-platform social content, investors of all types can gain insights from thought leaders, democratizing access to some of the leading investment professionals today."
Michael Wang, CEO and Founder of Prometheus
In addition, the Prometheus Marketplace provides verified investors quality access to an evolving market of alternative investment options. The user-friendly mobile app and website allows investors the option to explore, research, follow and interact with investment professionals such as hedge fund managers, crypto fund experts, and venture capital and private equity fund leaders.
Fluence Technologies, Sturnis365 | July 06, 2022
Fluence Technologies, the only provider of purpose-built financial consolidation, close and reporting software for high-growth businesses, today announced the acquisition of Sturnis365, the leading provider of intelligent, collaborative disclosure management and narrative reporting solutions.
Sturnis365 serves dozens of public, private and pre-IPO customers across Europe including AB InBev, Enel Group, Rothschild & Co., Bouygues Group, Ferragamo and KBC Bank. Like Fluence, Sturnis365 offers a familiar Microsoft Office interface and domain-specific workflow to automate collaborative report production, combining companywide data and narrative text for:
Immediate adoption among finance and business professionals compared to reporting available in their ERP system
Game-changing efficiency gains in report production compared to standalone Excel spreadsheets, Word and PowerPoint documents
Trusted, accurate internal and external reporting for any stakeholder, auditor or regulator
“Sturnis365 is a natural extension of our consolidation, close and reporting solution so CFOs can stay ahead of evolving reporting demands on the office of finance,” said Michael Morrison, CEO of Fluence Technologies. “Further, Sturnis365 strengthens our position in Europe, where more than 70% of their customers and partners are based. We also gain seasoned employees with strong ‘DNA’ in collaborative disclosure management.”
“Sturnis365 is a natural extension of our consolidation, close and reporting solution so CFOs can stay ahead of evolving reporting demands on the office of finance,” said Michael Morrison, CEO of Fluence Technologies.
“We are excited about the value Fluence and Sturnis365 presents to our customers and partners,” said Didier Katz, co-founder and director at Sturnis365. “Companies across the globe are looking for a solution that combines financial consolidation, close and disclosure management in a single offering. Now, Fluence is the only player on the market that can meet this need."
Katz and fellow Sturnis365 co-founders Marco Mattei and Piero Ferreri are joining Fluence’s leadership team as part of the acquisition, along with their respective teams in product development, services, sales and marketing.
Fluence and Sturnis365 have already secured joint customers including cryptocurrency trading platform provider WonderFi.
“When we learned about Sturnis365, we were considering a legacy disclosure management solution that would have cost a significant amount and taken months to implement,” said John Rim, CFO at WonderFi. “Between its out-of-the-box functionality, Office integration and the fact that our finance team can manage the entire reporting process, we quickly realized how much more we’d benefit from Sturnis365.”
“Today’s CFOs don’t just need modern consolidation software, but end-to-end group accounting solutions spanning from account reconciliation to disclosure management.” said Carsten Bange, founder and CEO of BARC. “With its acquisition of Sturnis365, Fluence has broadened its offering to meet the changing needs of the constantly evolving finance function.”
"Acquiring Sturnis365 continues building on the vision of a complete financial corporate performance management suite that Michael Morrison and our team had when we originally invested in Fluence,” said Stephen Davis, managing partner at Banneker Partners, Fluence’s principal investor. “We look forward to Fluence continuing to deliver exceptional value to its customers."
The announcement comes just over six months after Fluence acquired self-serve, Excel-centric reporting software vendor XLCubed, and three months after unveiling its purpose-built account reconciliation and transaction matching solution. As a result, Fluence now has the market’s only end-to-end consolidation, close and reporting solution, and over 900 customers worldwide.
For more information on Fluence’s disclosure management and narrative reporting solution, visit: https://www.fluencetech.com/disclosuremanagement/home
About Fluence Technologies - www.fluencetech.com
Fluence is the only pure-play financial consolidation, close and reporting software for high growth businesses. Our customers go live in weeks, close their books in days and report intelligence in real time. We deliver game-changing efficiency gains and trusted, timely numbers to over 900 customers so they get the time, control and confidence they deserve. Fluence is out-of-the-box, no-coding software with a full Excel interface and enterprise-grade capabilities for immediate adoption and quick time to value, all in a truly finance-owned solution. Welcome to Fluence...we close early.
About Sturnis365 - www.sturnis365.com
Sturnis365 provides full end-user collaborative creation, publication and disclosure of corporate information, including for annual and periodical corporate reports, sustainability and ESG reporting, compliance and risk reporting and procurement and tax disclosures. Our unique Inversed Design capability allows for automated data synchronization to reduce document setup and maintenance and optimize overall cost of ownership.