Davies continues acquisitions spree
Professional services group Davies has acquired Worksmart, a supplier of regulatory technology for people and process management.
Based in Milton Keynes in the UK, Worksmart serves organisations across insurance, banking, investment and consumer credit. Among other things, it is the number one provider of regulatory technology for complaints management and feedback in the Lloyd’s market.
It will join Davies’ established technology unit, led by CEO Mark Grocott, and Worksmart managing director Andy Nightingale will continue to lead the business. All Worksmart employees will continue in their roles within Davies.
Worksmart’s product range enables organisations to track and manage regulatory processes across customer complaints and feedback, quality assurance, training & competence, the Senior Managers and Certification Regime in the UK, and Individual Accountability guidelines in Singapore.
It is the latest in a string of acquisitions by Davies as it continues its diversification drive.
“I’m thrilled to welcome Andy and the whole Worksmart team to Davies,” said Dan Saulter, group CEO of Davies. “The business has an excellent track record of helping financial services and insurance firms strengthen their security and compliance through innovative technology platforms.
“The growing complexity in the UK regulatory market creates a burden for businesses operating in highly regulated markets. The pace of change in the UK regulatory landscape is quickening, and sophisticated RegTech platforms will be essential for regulated entities who want to make the most of the opportunities the changing regulatory landscape brings.”
Nightingale added: “I’m very pleased Worksmart is becoming part of Davies, which has a shared focus on innovation and digital transformation to help financial services firms make the most of increasing complexities in regulated markets. I look forward to working with Dan, Mark and the wider Davies team to develop and strengthen our RegTech solutions for our clients.”
