This week’s edition of Finovate Global looks at recent fintech headlines from Scotland.
AutoRek Launches RegToolKit
Automated reconciliation and financial control solutions provider AutoRek has launched its AutoRek RegToolKit. The new offering will help financial services companies simplify, track, and demonstrate their compliance with complex regulations.
AutoRek RegToolKit maps client products and services against regulatory requirements to ensure that companies can become compliant as well as prove their compliance with regulatory authorities. The solution features an applicability matrix across regulatory requirements, business risks, and mitigating controls, providing a comprehensive overview for all legal entities and product lines and reducing the audit burden. AutoRek RegToolKit uses an in-built breach register to identify compliance breaches, assign ownership, and track the process through to remediation, avoiding reliance on both spreadsheets and manual audits. The new offering complements the company’s data management, reconciliation, and reporting platform providing a consolidated data, governance, and oversight solution.
“Firms are required to not only control their data, but also evidence that their processes align with regulatory rules,” AutoRek Chief Product, Technology, and Operations Officer Jim Sadler said. “RegToolKit takes the complexity out of compliance by mapping rules to controls, tracking non-conformity, and providing a complete audit trail. Combined with our reconciliation platform, it allows firms to achieve full end-to-end financial control and compliance.”
Founded in 1994, AutoRek made its Finovate debut at FinovateEurope 2023. At the conference, the Glasgow, Scotland-based regtech demonstrated how its intuitive, configurable dashboards help firms manage the pain points in the reconciliation process. The company’s machine learning-based technology monitors the performance of reconciliations, disaggregating and categorizing outstanding balances, highlighting escalation points, and more. AutoRek helps institutions transition away from spreadsheets and manual processes toward greater control and efficiency.
FreeAgent Integrates with Sodium Software, Active | UK
Edinburgh, Scotland-based fintech FreeAgent has announced a handful of integrations in recent days. First, the company reported that it had integrated with cloud-first workpapers and accounts platform Active | UK. Active works with core accounting systems to boost accuracy and standardize workflows. The partnership will enable users to automatically import data from FreeAgent into Active Workpapers, reducing the potential for human error and enabling faster, more consistent reporting.
Second, just this week FreeAgent reported that it has integrated with accounting practice management platform Sodium Software. The partnership is designed to help accounting professionals and teams in the UK streamline CRM, proposals, workflows, invoicing, and more. Connecting FreeAgent accounts to Sodium will enable accountants and teams to sync client data instantly and directly monitor the status of clients. In a LinkedIn post, FreeAgent added that further functionality, including automated billing and bookkeeping insights, is “coming soon.”
Founded in 2001, Active | UK is celebrating its 25th year as a technology partner for accounting firms. A division of Active by Business Australia, Active | UK helps companies standardize processes and workflows to ensure that all team members are working in the same way. Active | UK offers automated accounting workflows to seamlessly populate and sync data, and an intuitive Excel split pane that gives users greater control and transparency over figures and calculations.
Officially in public beta, Sodium Software was launched in late 2025 as a practice management platform for UK accountants. While seeing practice management as “the foundation,” the company has noted that its roadmap extends beyond this to include AML, payments, accounts production, and more. Sodium Software recently unveiled new features including unlimited custom fields, pricing tiers, and the ability to make both client and bulk updates.
FreeAgent made its Finovate debut at FinovateEurope 2013 in London. Founded in 2007, the company today has more than 200,000 small businesses, accountants, and bookkeepers using its accounting software
Insurtech Wrisk Acquires Atto, formerly DirectID
Here’s some M&A news from last month that slipped under our radar: Independent embedded insurtech platform for the automotive OEM sector Wrisk has acquired real-time financial intelligence platform Atto. Terms of the transaction were not disclosed.
Atto enables companies to make context-aware credit and risk decisions within live customer journeys. Leveraging open banking to securely access and analyze transaction-level data, Atto’s technology transforms it into actionable insights that can be embedded into regulated, enterprise-grade customer experiences. Wrisk, which partners with automotive OEMs to embed insurance directly into the consumer journey, will use Atto’s financial intelligence solution to offer greater flexibility in how financing and protection products are designed and delivered.
The acquisition will also enable Atto to take advantage of Wrisk’s OEM relationships, delivery capability, and regulated operating framework to deploy its capabilities across a broader range of markets and use cases.
“Atto has built a credible financial intelligence and credit scoring platform with real-world enterprise use,” Wrisk Chief Executive Officer Nimesh Patel said. “Joining Wrisk allows us to combine that intelligence with a delivery layer that serves brands and other partners at scale.”
Edinburgh, Scotland-based Atto rebranded from DirectID in 2024. DirectID was launched in 2016 as the flagship product of James Varga’s The ID Company (which itself was a rebrand of Varga’s miiCard, a digital verification company and Finovate alum founded in 2011).
“Joining Wrisk represents a natural next phase in Atto’s growth,” Atto Strategic Programme Advisor Rob Knight said. “We have proven the value of open banking-driven credit intelligence with enterprise clients, and Wrisk brings the regulated operating framework and delivery capability required to deploy that intelligence at scale. Together we can embed credit decisioning, affordability, and actionable insights directly into live finance and protection journeys.”
Here is our look at fintech innovation around the world.
Middle East and Northern Africa
- We Are Tech Africa profiled Algerian fintech platform Gifty, which offers a single app for shopping, billpay, mobile top-ups, and digital gift cards.
- MENA-based fintech Network International and ADCB Egypt went live with FICO Falcon Fraud Manager.
- The Times of Israel looked at how momentum from 2025 will drive the Israeli fintech industry in 2026.
Central and Southern Asia
Latin America and the Caribbean
- Santander teamed up with Visa to test agentic payments in markets in Latin America.
- DriveWealth announced a partnership with Latin American neobank Banco Ualá to help it launch a new stock investing service for customers in Mexico.
- Jamaica Observers profiled financial wellness app Quatta which goes live this month.
Asia-Pacific
- Mizuho Financial Group chose FIS’ Balance Sheet Manager to help it navigate new regulatory reporting requirements in Japan.
- Indonesia-based digital credit unicorn Kredivo acquired Vietnamese digital bank Timo.
- Mastercard announced a collaboration between its money movement platform, Mastercard Move, and Bank of Shanghai.
Sub-Saharan Africa
- UK-based international credit information and risk management service provider Creditinfo announced its entry into the Uganda market.
- African Islamic neobank Nyla partnered with Mambu as it goes live in Ghana and readies for West African expansion.
- Nigerian fintech Thrifto launched a platform to help digitize traditional group savings scheme such as Ajo and Esusu,
Central and Eastern Europe
- Commerzbank and Berlin, Germany’s Hawk announced a collaboration to leverage AI to optimize internal banking processes such as fighting money laundering.
- Berlin-based AAZZUR forged a partnership with Estonian electronic money institution Wallester.
- Romanian P2P lending platform Fagura secured investment from Bravva Angels, named “FinTech of the Year” at 2026 Romanian Startup Awards.
Photo by Jure Tufekcic on Unsplash
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