(MENAFN- Pressat) The RegTech (regulatory technology) industry has grown to be one of the most important sectors within financial technology over the past three years. Over $14bn has been invested in RegTech companies since 2016, as financial institutions grapple with the complexities of new regulatory requirements.
As a result, this year's process to identify the leading 100 RegTech companies was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,000 companies produced by RegTech Analyst. Fifty-three new companies entered the RegTech100 for 2020 and 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.
'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.'
Among the leading RegTech companies are:
IDMission: offers comprehensive KYC solution platform
MyComplianceOffice: provides compliance monitoring solution to manage conduct risk
Theta Lake: leverages applied AI to automatically detect regulatory risks in audio, video, and collaboration chat content
KYCPortal: real-time, risk-driven lifecycle management platform with full ownership of policy automation, increasing operational efficiencies and redefining business relationship outreach
MAP FinTech: leading RegTech provider for the financial services industry, specializing in regulatory reporting solutions
Ascent: offers AI-powered solutions for regulatory change management and obligations management
Red Oak Compliance: the advertising compliance review software of choice in the financial services industry
Eventus Systems: provides risk management and market surveillance solutions for capital markets organizations
SmartSearch: AML platform incorporating fully automated Sanction, PEP, SIP and RCA screening
Kaizen Reporting: provides quality assurance services for regulatory reporting for financial institutions
Sensiple: enables financial institutions to adhere to multiple regulatory bodies and automate end-to-end regulatory processes, data governance, and compliance workflows
Waymark : uses NLP to ensure firms can demonstrate that their teams comply with relevant legislative and regulatory requirements
Enveil: protecting Data-in-Use to enable secure search, analytics, sharing, and collaboration
SteelEye: enables firms to Comply Smarter™ by managing their regulatory obligations through a single platform and gaining value from their data
Allatus: enables the creation of a reusable Data Knowledge Base including end to end Data lineage
A full list of the RegTech 100 and detailed information for each company is available to download atwww.RegTech100.com .
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