The risk management group will make deltaconX’s service available through its Global Risk Platform which it says will simplify regulatory reporting through automation and “dynamic error handling, minimising manual work and the likelihood of human error”.
"With a rise in the number of enforcement actions and a plethora of progressively complex regimes to comply with, regulatory reporting is an increasingly important area of focus for our customers”, said Saeed Patel, KRM’s director of product strategy.
“This new partnership with deltaconX is complementary to the suite of regulatory risk applications which is currently available through our Global Risk Platform and will allow us to help firms reduce the complexity of complying with multiple regulatory reporting regimes", Patel added.
In a note to clients, KRM’s house broker finnCap reiterated their 100p target price, saying the deal “underlines KRM22’s ongoing strategy to develop strategic partnerships for the Global Risk Platform, and drive [annualised recurring revenues] going forward”.
Placing raises £1mln
In a separate announcement, KRM22 said it had raised £1mln through the placing of around 1.9mln new shares at a price of 52p each, a 4.6% discount to its close price on Wednesday.
The proceeds of the placing, which was conducted with existing institutional and other investors, will be used to provide the firm with additional working capital.
In lunchtime trading, KRM’s shares steady at 54.5p.
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