I am delighted to announce that Cable has been acquired by Synctera.
When we started Cable six years ago, our goal was to automate the testing of financial crime controls. We knew that manual sampling of accounts and transactions was ineffective, and we believed we could provide banks with the insights they needed to walk into exams and audits confident in their own compliance.
At the time, we were the only startup raising money in the compliance space, and the first people to automate control testing.
Six years later, I am incredibly proud of the changes we have kicked off in the banking industry. We’ve built the leading compliance testing platform for banks to test their own controls, and the controls of their third-party fintech partners. It is now a common conversation topic (and a cool one, if you ask me!) to talk about automating compliance testing. Regulators are asking banks how they are going to automate their testing, and more than 50 banks and fintechs, including Grasshopper Bank, Midland States Bank and Mercury, trust Cable to make sure that they are compliant
In lock step with our testing journey, Banking as a Service, or BaaS, has provided a way for banks of all sizes to expand their revenue streams and enter new markets. Banks look to BaaS providers like Synctera to help them grow. Cable being a part of Synctera means that even more banks will benefit from automating the hardest parts of their work.
Cable will continue to exist as a stand-alone product, powered by Synctera’s deep pockets, talented team and impressive list of bank and fintech customers. Peter has built the standout company in this space, and I can’t think of a better home where Cable can continue to grow.
I am deeply grateful for the long list of people who have believed in and helped us over the years. Our customers, the Cable team (both current and former), our investors and angels (now I know why they’re called that), and the many cheering from the sidelines. I also want to reiterate my belief that the wives, husbands and partners of founders should get equity in startups. None of this would have been possible without my wife’s help and support.
Here’s to Cable’s next chapter! Onwards.
Breaching the $10B Asset Threshold - Supervision and Examinations
Breaching the $10B Asset Threshold - Operational Requirements
Breaching the $10B Asset Threshold - Governance and Risk Management Compliance RequirementsI am delighted to announce that Cable has been acquired by Synctera.
When we started Cable six years ago, our goal was to automate the testing of financial crime controls. We knew that manual sampling of accounts and transactions was ineffective, and we believed we could provide banks with the insights they needed to walk into exams and audits confident in their own compliance.
At the time, we were the only startup raising money in the compliance space, and the first people to automate control testing.
Six years later, I am incredibly proud of the changes we have kicked off in the banking industry. We’ve built the leading compliance testing platform for banks to test their own controls, and the controls of their third-party fintech partners. It is now a common conversation topic (and a cool one, if you ask me!) to talk about automating compliance testing. Regulators are asking banks how they are going to automate their testing, and more than 50 banks and fintechs, including Grasshopper Bank, Midland States Bank and Mercury, trust Cable to make sure that they are compliant
In lock step with our testing journey, Banking as a Service, or BaaS, has provided a way for banks of all sizes to expand their revenue streams and enter new markets. Banks look to BaaS providers like Synctera to help them grow. Cable being a part of Synctera means that even more banks will benefit from automating the hardest parts of their work.
Cable will continue to exist as a stand-alone product, powered by Synctera’s deep pockets, talented team and impressive list of bank and fintech customers. Peter has built the standout company in this space, and I can’t think of a better home where Cable can continue to grow.
I am deeply grateful for the long list of people who have believed in and helped us over the years. Our customers, the Cable team (both current and former), our investors and angels (now I know why they’re called that), and the many cheering from the sidelines. I also want to reiterate my belief that the wives, husbands and partners of founders should get equity in startups. None of this would have been possible without my wife’s help and support.
Here’s to Cable’s next chapter! Onwards.
