The top 100 RegTech companies from around the world have been named in the second annual RegTech 100, which has been compiled by RegTech Analyst.
This list outlines the innovative technology solutions which are transforming the compliance, risk management and cybersecurity and every leader in the financial institution needs to know about in 2019.
RegTech (regulation technology) 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. Over $4bn has been invested in RegTech companies since the beginning of 2016. This growth meant competition for spots in the 100 was even tougher than last year.
A panel of analysts and industry experts voted from a longlist of 824 companies, compared to a list of 416 in 2017.
Those to make the final cut were chosen based on how their technology is being used to solved major problems in the industry, either by cutting costs or improving efficiency across the value chain.
Last year, RegTech Analyst released the debut RegTech 100 and 45 of these companies managed to retain their position in the list. Of the 55 new companies to make the list, the risk management category saw the biggest rise, with 10 additional companies – this brings the category to 47 places on the list.
RegTechs offering solutions for MiFID II also witnessed an increase, representing 38 places on the 100.
Europe and North America continue their dominance in the RegTech 100 with 60 per centand 29 per cent of places, respectively. In Europe, the UK increased its leading position with 30 of its enterprises making the list, up from 26 last year.
The UK was the most represented country in the list, and companies to feature include Capnovum, which uses cognitive compliance management for financial institutions, and Onfido, which uses machine learning to help verify identities.
The next biggest country for companies named in the report was the US, with there being 27 startups listed. Automated AML onboarding solution ComplyAdvantage, cybersurveillance startup Corvil and regulatory compliance automation software Ascent Technologies were some of those named.
Ireland, Switzerland, Singapore, India and Luxembourg are just some of the other 21 countries to be represented in the RegTech 100.
“London has established itself as the world’s leading innovation hub in RegTech. The combination of supportive regulator and government, well-developed tech sector, abundance of capital and high FinTech adoption rates has fostered the growth of innovative companies dealing with regulatory issues which financial institutions need to be aware of,” according to Mariyan Dimitrov, head of research at RegTech Analyst.
Earlier in the year, FinTech Global, the sister site of RegTech Analyst, compiled the InsurTech 100, a list of the most innovative insurance technology solutions available in the market.
A full list of the RegTech 100 and a summary description of each company can be downloaded for free from the website: www.TheRegTech100.com.
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