OTTAWA, ON, July 18, 2018 – VigilantCS has another milestone to celebrate for 2018: it recently received new conditional funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
The new funding will support development of the behavioural algorithm that enables the company’s VCSPro solution to rank staff conduct risk in the financial services industry and to develop a consolidated compliance dashboard. The contribution from NRC IRAP complements a Cybersecurity Fintech Innovation Pilot Program (CFIP) grant from the Ontario Centres of Excellence in March. NRC IRAP also provided early-stage funding to VigilantCS in 2017.
“NRC IRAP empowers VigilantCS to advance our innovative Ai-driven solution for managing staff compliance risk,” says CEO and Co-founder Rob Kirwin. “The funding is valued and represents yet another important business milestone for the company in 2018.”
VigilantCS solutions provide the basis for a common compliance management platform that drives down costs and reinforces industry best practices. VCSPro applies Ai and machine learning to conduct risk analytics. By gathering staff regulatory and IT security information, VCSPro enables firms to focus preventive action on high-risk areas of their businesses. The company anticipates that it will launch in fall 2018. VCSPro complements VCSOpen, a digitized platform for managing staff compliance obligations that is already operating.
VigilantCS develops intelligent, cloud-based staff conduct risk platforms. Since it began operating in Ottawa in 2016, VigilantCS has received funding from the National Research Council’s Innovation Research Assistance Program (IRAP) and the Ontario Centres of Excellent (OCE). In July, VigilantCS was named a Top 25 Up and Coming ICT Company by the Branham Group Inc. for demonstrating innovation and promise. It was one of only three Canadian companies named to the global RegTech 100 List in 2017. VigilantCS CEO and Co-founder Rob Kirwin has been appointed to the OSC Fintech Advisory Committee and the IIAC FinTech Working Group. He has delivered presentations at the IIAC FinTech Summit, the Rotman Machine Learning Conference and the Canada Fintech Forum.