4Stop (“FourStop GmbH”), a leading global provider for KYB, KYC, compliance and fraud prevention, announces its selection within the Cybertech100. This list is composed of the top 100 globally recognized most innovative providers of digital solutions of 2020, providing world-class cyber defenses to financial institutions.
CyberTech is one of the fastest-growing sectors within the FinTech industry, with FinTech Global data showing investment in the space has grown 14x since 2014 to reach $3.4 billion last year.
Read More: Simple Announces Launch of Tax Refund Feature to Automate Savings for Customers
That surge in activity comes as financial services firms are increasingly moving towards digital operations and expanding their security budgets. According to a study by Gov.uk, finance and insurance firms increased their spending on cybersecurity by 23% YoY in 2019.
Read More: Fintech Europe Selects Ten Startups for its Fifth Batch
Given the considerable rise in appetite for the sector, the CyberTech100 was produced to identify the 100 innovative companies that every financial institution needs to know about when they consider and develop their information security and financial crime-fighting strategies.
The standout companies were chosen by a panel of industry experts and analysts who reviewed a study of over 1,000 CyberTech companies undertaken by FinTech Global, a data and research firm. The solution providers making the final list were recognised for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the security value chain.
FinTech Global director Richard Sachar said, “Established financial institutions need to be aware of the latest security technology in the market to protect their organisations from data leaks and cyberattacks.
“The CyberTech100 list helps senior management filter through all the vendors in the market by highlighting the leading companies in sectors such as Threat Management, Data Governance, Cloud Security, Employee Risk and Fraud Prevention,” he added.
Read More: GlobalFintechSeries Interview with Patrick Turiano, Director of Marketing at Paysafe Group