Six Lambda's data-collection processes will enhance StarCompliance's existing political donations monitoring software capabilities.
Rockville, MD, December 1, 2021 –StarCompliance (“Star”), a leading provider of compliance technology solutions to the financial services industry, announced it has acquired Six Lambda—a software firm that makes political contributions monitoring software.
"We're excited about acquiring the capabilities of Six Lambda's data collection and processing system to further enhance Star's existing political donations monitoring capability," Star CEO Jennifer Sun said. "We've seen more and more clients request political contribution monitoring for their firms in the last few years, and we’re pleased to be able to offer our clients a more timely and accurate data set than what has been traditionally available in the market.”
For Star clients, the acquisition enhances the data available to them as they strive for regulatory compliance. With Six Lambda’s capabilities added to the STAR Platform, Star clients will have access to donations data on a far more frequent basis than they previously did, allowing more time for compliance teams to discover, self-report, and remediate any improper contributions. Clients can also expect access to higher-quality, more granular data from the FEC, all 50 states, and the municipalities within each state—all in one standardized format and accessible from one database. The Six Lambda system also provides for more intuitive searching, automatic reconciling of false positives, and an easily accessible record of all firm diligence efforts.
Star has been developing conflicts of interest monitoring software for financial services firms for more than 20 years. Six Lambda, an SaaS regtech firm founded in 2018, helps companies verify and monitor employee political donations to ensure that workers don't violate pay-to-play laws. “The time had come for Six Lambda to either develop a more comprehensive compliance tech stack in order to stay competitive in the marketplace, or look for a like-minded company to combine its capabilities with,” said Jonathan Liggett, Founder and CEO of Six Lambda. “Star is a natural fit. Six Lambda’s capabilities are complementary to what Star has already built out with its Political Contributions product and broader employee compliance suite. Equally important, Six Lambda is in good hands with the team at Star.”
Star will be blending the capabilities that Six Lambda brings into its current Political Contributions software solution, creating an enhanced offering for Star clients. This enhanced product will have access to more current data and is available for immediate use. The Six Lambda search platform will continue to be offered as a standalone product for the foreseeable future.
StarCompliance is a leading provider of compliance technology solutions. Trusted globally by enterprise financial firms—including asset managers, investment banks, broker-dealers, private equity firms, insurance companies, and stock exchanges—the STAR Platform empowers organizations to achieve regulatory compliance while safeguarding their integrity and business reputations. Through a fully configurable, 360-degree view of employee activity, STAR software enables firms to automate the detection and resolution of potential areas of conflict while streamlining daily workflows and increasing efficiencies. To learn more about StarCompliance software and services, visit www.starcompliance.com or email firstname.lastname@example.org.