Regulatory Finance Solutions limited has made an equity investment in ByzGen, the creator of bespoke private, blockchain solutions. The investment will enable ByzGen to accelerate its expansion, attracting market leading technical expertise.
ByzGen Ltd was spun out by the listed Cyber Security experts, Crossword CyberSecurity PLC, and is run by CEO Marcus Ralphs who brings first-hand experience of the Defence and Security sector. He is joined by CTO Terry Leonard, who was previously the head of development and delivery at Experian, and Delivery Director Dean Bellman, a former RAF pilot and KPMG programme lead.
Leveraging Skipchain technology, enhanced with cutting edge permission controls and security protocols, ByzGen designs, configures and deploys decentralised blockchain systems to enable organisations to protect their digital and hard assets through improved data reliability and assured transaction provenance. ByzGen is initially developing solutions to meet the critical needs of the defence sector.
“Receiving investment from RFS enables us to accelerate our plans for growth, both in terms of developing our technology and attracting the most experienced and talented software engineers and programmers in the sector” Ralphs said. “We will further build our relationship with the Swiss University, École Polytechnique Fédérale de Lausanne (EPFL), to meet our client needs across the sector.
RFS Strategy Director, Anthony Howitt ,who joins Byzgen’s Board of Directors said: “Data provenance and security is a constant challenge for organisations in the digital age. We believe the applications for this technology will be varied and certainly include financial services organisations who have significant risks to the sensitive information they keep. We are very much looking forward to working with the fantastic and experienced team at ByzGen to further solidify its unique position in the market.”
RFS is expert in helping regulated firms create better customer outcomes. We operate across retail banking, investments, insurance, consumer credit and utilities; sectors which are all having to manage in the emerging regulatory landscape. With our regulatory knowledge, our operational expertise and our specialist associates we can partner with our clients to deliver in the areas of Outcome Testing, Complaint Handling, Remediation, Financial Crime, Technical Resource and Project Management. Our solutions help to alleviate regulatory pressure, mitigate against future problems and support our clients in building loyalty and advocacy with their own customers.
Based in Swindon and founded in 2005 by the Chief Executive, John Turner, RFS was recently featured in the FT 1000 Europe’s Fastest Growing Companies and The Sunday Times Virgin Fast Track 100 with a £44 million of sales in 2015. John Turner was also selected as the Ernst & Young UK Entrepreneur of the year 2017, for the scale-up category.
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