The island will play host to some of the world’s greatest upcoming innovators next month when the winner of the 2025 Innovation Challenge is announced.
Inviting some of the best minds from near and afar, the challenge tasked entrants with presenting real world solutions for the FinTech, Cleantech, and Data & AI sectors.
Ahead of the finale, we’re going to be learning about the finalists, their products and how they can help solve issues facing the Isle of Man.
Today we’re focusing on RuleWise, a Guernsey-based AI compliance platform, founded in February 2024, that leverages artificial intelligence to streamline regulatory processes for financial services.
Origins
A chance meeting between co-founder Simon Kirkpatrick and Ian Campbell in early January 2024 sparked the idea to develop a compliance-focused AI platform for use in Guernsey, from which RuleWise’s was born.
This quickly progressed into a working prototype before Mort Mirghavameddin, former CEO of Investec CI, who brought compliance expertise and joined as co-founder.
What Do They Do?
RuleWise’s innovation addresses fragmented compliance workflows by deploying AI agents for tasks like policy comparison and risk assessment.
Their platform includes three progressively intelligent solutions: CORE, CLEUSO, and CREW.
Each of these are designed to reduce manual inputting while improving accuracy and results for businesses.
“RuleWise replaces that experience with clarity and control,” the company stated, noting clients report feeling “a spring in their step again” using the tool and its ability to cut through jargon and deliver quick and simple steps forward.
Why The Isle of Man?
Really everyone not involved should be asked why not the Isle of Man!
Simon and Mort said they were quite impressed with what our glorious little home and its business sectors offer, providing them with what they hope will be a great launchpad.
RuleWise said: “We were inspired to enter the Isle of Man Innovation Challenge because it not only champions cutting-edge solutions in regulatory technology, financial services, and artificial intelligence, but also brings together government, regulators, and industry leaders to celebrate innovations that deliver tangible, real-world benefits to the sectors and communities they serve.”
In late 2024, we visited the Isle of Man and attended the Digital Isle conference. We were struck by the jurisdiction’s ethos: a joined-up, forward-thinking approach to regulation and technology, underpinned by openness to innovation. That visit shaped our thinking. From that point on, we knew we wanted to be meaningfully involved with the Isle of Man’s ecosystem.”
Sustainability
The buzz word for the 2025 Innovation Challenge and RuleWise has grasped it with both hands to show how the company aligns with the goals in FinTech and Data & AI, while embedding ESG principles.
“We are a digital-first company with sustainability embedded at every layer,” RuleWise explained, highlighting features like paperless audits and energy-efficient workflows.
Since launch, RuleWise has achieved significant milestones, including live deployments in six jurisdictions and recognition as one of the FinCrimeTech50 2025.
“We hope to use the platform to expand our network in the Isle of Man and beyond,” the team shared, aiming to deepen partnerships and scale into eight new markets in 2025.
In association with Digital Isle of Man
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