Sunday 24 June 2018

Financial crime expert Kyckr signs up advisers

Kyckr is hoping to benefit from the increasing focus on anti-financial crime solutions globally. Stock photo: Getty Images
Kyckr is hoping to benefit from the increasing focus on anti-financial crime solutions globally. Stock photo: Getty Images

Gretchen Friemann

Kyckr, an Irish fintech company listed on the Australian stock exchange and a provider of financial crime and compliance software, has drafted in two heavyweight advisers to bolster its operations.

Peter Oakes, a former enforcement chief with the Central Bank, and Bruce Quick, who has worked with global fintech companies, have been tapped to drive the minnow's expansion.

The fortification of Kyckr's team come at a time when the main Irish banks are in the spotlight for breaching regulations designed to thwart money-laundering and the financing of terrorism.

AIB, Bank of Ireland and Ulster Bank have been hit with multi-million-euro fines for breaching the rules.

Those levies followed lengthy investigations and were a particular embarrassment to AIB given its looming initial public offering.

Kyckr is hoping to benefit from the increasing focus on anti-financial crime solutions globally.

The company was founded by Irishman Rob Leslie, and raised AU$5m last year to list on the ASX in Sydney. Peter Oakes, who set up the enforcement department at the Central Bank in 2010 before leaving the regulator, said he was looking forward to the new role.

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