The fintech world continues to see proliferation of products and services as banks seek more efficient ways to keep on top of compliance tasks.

The risk and compliance software firm AQMetrics has forged an agreement with Exchange Data International through which EDI will provide market and corporate actions data to AQMetrics clients, continuing a trend of fintech firms expanding offerings for the regulatory compliance space.

AQMetrics delivers pre- and post-trade monitoring for a variety of monitoring fields, such as UCITS rules, anti-money laundering and know-your-client areas.

The firm has also added EDI's Corporate Actions Data to its software.  With data sourced directly from all of the world’s major stock exchanges, the Worldwide Corporate Actions service provides up-to-date equity-based corporate actions information, and provides coverage on over 150 International Exchanges, with detailed announcements on 54 corporate actions event types, it said in a statement.  EDI’s Fixed Income Corporate Actions Service follows corporate actions events on nearly 400,000 bonds from 100 countries and supra-national bodies.

Among other firms making moves is SEI, the US investment and technology company serving wealth managers and financial firms. Earlier in September it launched a global regulatory and compliance platform; other firms operating in this space include smartKYC and LexisNexis.

SEI, in a recent white paper called Evolving in the New Operational Frontier, said regulatory costs and pressures are among the top business issues asset managers face. Additionally, a recent McKinsey & Company benchmarking study of more than 300 institutional participants found that their compliance-related costs increased by an average of 12 per cent annually between 2007 and 2014. The McKinsey study also pegged the current total costs of compliance at more than $3 billion annually for traditional firms. Additionally, a 2013 KPMG hedge fund survey found their annual compliance costs to total another $3 billion a year.