UK-based companies are leading the way in modernizing the compliance function and have taken 30 places on the RegTech 100, a global list recognizing the innovative companies every financial institution needs to know about in 2019.
The RegTech (regulatory technology) industry has seen huge growth in the last two years as banks and financial institutions grapple with the unrelenting pace of regulatory change across all jurisdictions. The RegTech 100 list helps senior management at compliance, technology and innovation divisions sort through all the suppliers and identify companies who are most likely to have a lasting impact on the industry.
This year’s 100 companies were chosen by a panel of analysts and industry experts who voted from a longlist of 824 companies produced by RegTech Analyst, a specialist research firm. Despite 55 new entries on the list, the UK RegTech industry reinforced its leadership status by placing 30 solutions providers, compared to 26 last year.
“London has consolidated its position as the world’s leading innovation hub in RegTech. The combination of a supportive regulator and government, a well-developed tech sector, the abundance of capital and high FinTech adoption rates has fostered the growth of RegTech companies which offer mission-critical solutions to financial institutions.” said Mariyan Dimitrov, head of research at RegTech Analyst.
Among the UK’s leading companies are the following:
Glassbox: the first Digital Customer Management platform for enterprises that automatically records, indexes, replays and analyses 100% of customer digital interactions to optimise and protect web and mobile experiences in real time.
ClauseMatch: provides a unique SaaS offering, that enables financial institutions to streamline regulatory change management through effective organisation of internal policies, standards, procedures and controls.
SteelEye: a regulatory compliance technology and data analytics firm that offers regulatory reporting, record keeping, trade reconstruction, best execution and communications & trade surveillance in one comprehensive solution
VoxSmart: enables organisations to unlock the power of mobility whilst achieving regulatory and internal compliance by recording all mobile calls, SMS and Instant Messages on WhatsApp and WeChat
Capnovum: offers cognitive compliance management for financial institutions. The platform helps clients discover regulations applicable to their business model and keep up-to-date on regulatory news.
CUBE: utilizes Artificial Intelligence, Machine Learning and Natural Language Processing to automate the capture of global regulatory data and manage regulatory change, to avoid compliance risk to your business.
Onfido: uses machine learning to help over 1,500 companies verify a user’s identity by comparing their ID document with their facial biometrics.
AxiomHQ: a provider of regulatory compliance solutions, helping financial services companies demonstrate and evidence compliance, by using its comprehensive rules-mapping, risk and control tools and automated reporting features.
A full list of the RegTech 100 is available at www.RegTech100.com. More detailed information on all companies as well as in-depth industry analysis is available in the Global RegTech Review (www.GlobalRegTechReview.com).
Press release distributed by Pressat on behalf of RegTech Analyst, on Wednesday 21 November, 2018. For more information subscribe and follow https://pressat.co.uk/