Insig AI wins subscription service licence deal with UK FCA

Insig AI on Monday said it has received a purchase order from the UK Financial Conduct Authority for access to its Transparency and Disclosure Index.

The London-based data science and machine learning firm said the deal was for a subscription service licence agreement, allowing the FCA to access Insig AI’s index covering UK-listed companies.

The FCA will also have access to Estonia-based ImpactScope’s Greenwashing Identifier, an artificial intelligence and blockchain-powered application that identifies inconsistencies and unsubstantiated claims in statements and numbers across datasets such as annual reports, ESG reports, earnings call transcripts, social media posts and news articles.

Insig AI is ImpactScope’s exclusive agent for sales to international regulators and asset managers.

‘Since collaborating on the FCA’s TechSprint, we have been hugely impressed with the FCA’s decisiveness in harnessing technology, including AI and machine learning,’ said Insig AI Chief Executive Officer Richard Bernstein.

‘I believe that our curated repository of machine-readable corporate reports and disclosures will assist the FCA. It is not so much the immediate financial implications of this purchase order but rather what we regard as the commercial importance of our work with the FCA. We are proud of this progress.’

Shares in Insig AI were up 16% at 22.00 pence each in London on Monday afternoon. The stock has risen 29% over the past year.

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