Disruption House partners with IRTA to accelerate RegTech adoption

The Disruption House (TDH) has formed a partnership with the International RegTech Association (IRTA) to accelerate the adoption of RegTech solutions.

TDH, a specialist ratings agency for early stage companies, will provide all IRTA members with access to its scorecard service at a ‘generously discounted rate’. The TDH Scorecard provides analysis on a company and their technology, together with analytical commentary on the longer-term potential and viability of the business.

The IRTA is a united community of individuals and organisations, with a shared vision to innovate, advance and influence the future of RegTech. Its mission is help ‘break down the barriers to engagement’ that exist between RegTech providers and regulated financial institutions.

Its partnership with TDH offers an ‘important opportunity’ for its members to ‘accelerate engagement’ according to chief executive Ben Richmond.

“The TDH Scorecard de-risks the evaluation process, by providing independently collated and validated analysis on a RegTech provider’s offering,” he added. “Regulated institutions gain a trusted source of information, enabling them to evaluate and engage with credible solution-providers in a more timely manner. We are delighted to be working with TDH to make these benefits more accessible for IRTA members.”

The Disruption House is specialist benchmarking and data analytics company. Its mission is to enable financial institutions to get a much quicker, independent overview of a FinTech.

The firm also wants to highlight ways in which FinTechs can better professionalise their approach, technology and management function, as well as democratise the evaluation and selection process and broaden industry access to new companies.

Rupert Bull, co-founder and CEO, TDH, added: “We are delighted to be collaborating with the IRTA on this important initiative. We believe this is a highly symbiotic relationship as we both share a common vision, which is to help drive change and much-needed innovation into the global financial services arena.

“Doing business in this highly-regulated environment can be problematic, and while the appetite to adopt innovative new solutions undoubtedly exists, many financial institutions are finding the route to engagement onerous and fraught with obstacles.”

In a recent interview with RegTech Analyst, Subas Roy, chairman of the IRTA, said adopting RegTech and opening dialogue with regulators are equally vital in helping the financial services industry achieve compliance.

Copyright © 2018 RegTech Analyst

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