Automated Intelligence has appointed Mark Dowds as Chairman.

The Belfast-based RegTech has turned to the serial investor and entrepreneur as it eyes opportunities in the financial services market.

Dowds co-founded on-demand insurance platform Trov in 2012 and is currently Managing Director at venture firm Anthemis.

He also co-founded BandofCoders and ServiceCloud, which was acquired by Salesforce.

Simon Cole, CEO at Automated Intelligence, said: “We’re excited to welcome Mark as Chairman. He is highly respected in the banking and insurance industry, with an amazing record for growing successful companies.

“In May we’ll be 10 years in business and have set ourselves some pretty ambitious targets for the next phase of growth. Mark will be invaluable in helping us realise our goals and I’m looking forward to working with him in taking Automated Intelligence to greater heights.”

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Automated Intelligence is in talks with a number of incumbent banking institutions regarding AI.DATALIFT, its RegTech platform.

“Financial Services is crying out for a solution like Automated Intelligence. The siloed, incompatible nature of many of the current technologies being used is a major challenge for the banking and insurance industry,” said Dowds.

“Automated Intelligence overcomes that and sits perfectly alongside existing technologies. There is a real opportunity for this company to dominate the market and I’m delighted to joining Simon and the team in making that happen.”