Massive 4 accountancy agency, PricewaterhouseCooper (PwC), has spun off its monetary information seize know-how unit amid a regulatory crackdown on perceived conflicts of curiosity.
Rebranded as LikeZero, the enterprise helps banks, monetary establishments and different regulated companies analyse and extract perception and information from inside their shopper contracts.
Established in 2016, LikeZero, grew quickly inside PwC below the management of Michael Strains, now the corporate’s chief government, below the identify of eBAM.
The agency counts a number of the world’s largest monetary establishments amongst its blue-chip shopper base and has additionally established strategic partnerships with market main information processing gamers corresponding to AcadiaSoft and IHS Markit.
The spin out is available in response to regulatory restrictions imposed by the Monetary Reporting Council, which bans audit corporations from promoting their very own know-how to shopper corporations.
The offloading of the enterprise was performed in a administration buy-out backed by Souter Investments, the personal fairness focussed household funding workplace and Manfield Companions Restricted.