back Back

Xcelerate acquires an equity stake in Gieom, a financial service compliance provider

By Gloria Mathias

June 24, 2024

  • and Digital Identity Verification
  • APAC
  • Banking
Share

Gieom, DORA 360, Stoics, RegTech, India, Europe, Xcelerate, ESG, financial Compliance, Middle east, MENA, Europe, APAC, India, Xcelerate Pte Ltd (Xcelerate), an Environmental, Social, Governance, Risk and Compliance (ESGRC) operating and investing platform, has announced the acquisition of a strategic equity stake in Gieom Business Solutions Private Limited (Gieom) through a combination of primary and secondary investment.

This investment will enable Gieom to grow its customer base in Europe and other highly regulated Banking, Financial Services, and Insurance (BFSI) markets where demand for modern, future-ready, and defensible operational risk & resilience technology solutions is escalating.

Gieom is a provider of Generative AI-powered RegTech solutions, including Standard Operating Procedures (SOP) and Policy Management, Operational Risk and Resilience, and Digital Identity Verification, to clients across Europe, the Middle East, and India. John Santhosh will continue to lead Gieom as Managing Director and CEO, reporting to the Board.

Globally, the digitalisation of BFSI compliance is rising rapidly, driven by stringent regulatory oversight and the need to assure key business stakeholders of the firm’s operational resilience. Leveraging RegTech solutions is increasingly important for entities needing to enhance the visibility and reporting of their governance, risk, resilience and compliance management to senior managers, regulators and other supervisory agencies. Xcelerate’s investment marks an addition to the firm’s portfolio, complementing its presence in social compliance and ESG reporting sectors.

John Santhosh, Managing Director and CEO at Gieom, shared, “Interest in Gieom’s solutions has risen dramatically in light of Operational Resilience Regulations getting enforced by various Central Banks. We are excited that Gieom’s partnership with Xcelerate opens the door for us to provide BFSIs with the highest quality RegTech solutions, already used by more than 100 customers globally with the premium service levels we are renowned for.”

Kv Ramanand, CEO of India for Xcelerate Group, said, “John and the Gieom team have helped multiple global banks manage their internal and operational risks through innovative solutions. Leveraging their strong foundation of domain and technology expertise, they have undertaken some pioneering initiatives and emerged as a well-respected partner in the new and highly regulated DORA segment. We look forward to working closely with the Gieom team and its advisors in scaling the operations to the next level, making the right investments in domain expertise, technology and market outreach.”

Previous Article

June 21, 2024

MECCA & Adyen to offer a seamless payments experience in Australia

Read More
Next Article

June 24, 2024

Verituity raises $18.8m to boost its B2B & B2C Verified Payout Platform

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 11, 2025

Azura Credit Union modernises tech infrastructure with Jack Henry

Read More

February 10, 2025

ACI Worldwide partners with Banfico to tackle APP fraud in Europe

Read More

February 07, 2025

Hong Kong’s ZA Bank partners TransUnion to offer free credit alerts

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2024
Know More