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IBM is launching a regtech subsidiary (IBM)

This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. Software giant IBM has announced that it is acquiring major financial consultancy Promontory Capital, which specializes in compliance, according to Finextra and The Wall Street Journal. IBM plans to combine Promontory's compliance expertise with Watson's cognitive computing, or AI, capabilities to create a subsidiary called Watson Financial Services, which will be able to help financial services clients manage regulatory compliance.
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