This list identifies the world’s most promising enterprises developing solutions to solve financial services firms and other businesses’ risk management, compliance and cybersecurity concerns.
RegTech Analyst’s annual RegTech100 list comes as the global RegTech sector is growing from strength to strength. Since 2014, the ecosystem has attracted over $16bn around the world, $14bn of which were been injected into the industry between 2016 and the third quarter of 2019 alone.
And this growth has been evident in the wealth of candidates that a panel of industry experts had the opportunity to pick the final list from. Over 1,000 companies hoped for a top spot, but only 100 made it to the final RegTech100 2020 shortlist. Of the companies featured on the list, 53 were newcomers who made their debut this year.
The finalists were recognized for their innovative use of technology to solve a significant industry problem or to generate efficiency improvements across the compliance function.
Regulatory obligations management platform provider SteelEye, regulatory reporting solutions provider MAP FinTech and compliance monitoring solution company MyComplianceOffice were three of the companies selected.
Others to make the RegTech100 2020 list include Theta Lake, the venture leveraging applied artificial intelligence to automatically detect regulatory risks in recordings, KYCPortal, the risk-driven lifecycle management platform developer with full ownership of policy automation, and Ascent, the RegTech company offering AI-powered solutions for regulatory change management that bagged a $19.3m Series B funding round in the beginning of October.
“Employing RegTech solutions to modernize the compliance function is now mission-critical for financial institutions globally,” said Mariyan Dimitrov, head of research at RegTech Analyst. “Even though 51% of RegTech100 companies are based within the UK or US, the spread of RegTech innovation has seen companies from another 23 countries make the list.”
A full list of the RegTech100 and detailed information for each company is available to download at www.RegTech100.com.
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