Top Global RegTech Providers Redefining Regulatory Issues and Compliance for Business-to-Business

As per World Bank estimates, 8% of the GDP of most of the advanced economies are being spent on regulatory compliance. For less developed countries, the percentage is even more. Imagine the size of the global economy and the kind of expenditure companies are making to ensure that their business processes are compliant in all aspects.

Regulatory compliance isn’t easy and you need a professional to help you handle every aspect of it. Despite the best efforts put forward by companies, there is still a lot of potential for improvement and efficiency here. This is the gap, that RegTech providers can fill effectively.

As Fintech grows, the financial industry will be flooded with change. RegTech is an important arm within Fintech.

Read More: Ten Ways RegTech Innovations will Change or Solve Compliance and Regulatory Issues

Here are some prominent and innovative RegTech companies to watch out for:

  1. Ayasdi

This RegTech leverages the power of machine intelligence to solve regulatory and compliance issues. The company offers an intelligent platform for money laundering, it can create rules for countering fraud based on the evolving data and so on. The engine used by Ayasdi studies the data to unveil relationships and patterns between different variables.

  1. Regis-TR

A Luxemburg based company, this RegTech is popularly used in the European Union. It is a one stop solution for reporting all kinds of trade transactions for various asset classes. The platform supports most derivative trades, which are compliant with regulations like SFTR (Securities Financing Transactions Regulation).

  1. Encompass

Encompass was founded in Australia in 2012, and it was later launched in the UK in 2015. Encompass is powered by robotics and it can provide automated information about the latest news discovery for your KYC, any requirements for onboarding and so on. KYC failures have led to million-dollar losses for many companies and Encompass helps save a lot of time, money and resources.

Read More: GlobalFintechSeries Interview with Patrick Turiano, Director of Marketing at Paysafe Group

  1. Chainalysis

Everyone is leveraging the power of blockchain and so is Chainalysis, to figure out money laundering, fraud and compliant violations in the crypto sector. This solution aims to help financial institutions and crypto trading sites with fraud prevention and KYC predominantly.

  1. Comply Advantage

Based out of the city of New York, Comply Advantage is an AI driven risk management database for companies vulnerable to financial threats. Currently 350 companies are using Comply Advantage for various money transferring activities such as payments, stock trading and gambling.

  1. Signzy

If you need a real time cloud-based authentication for all your financial transactions, Signzy is a good platform. The platform supports digital identification and authentication along with providing additional information about  clients. Anti-money laundering, Know Your Customer and Counter Terrorist Financing is supported fully by Signzy.

  1. Cube

Cube is a UK based RegTech start-up offering automated approach for regulatory compliance. The start-up is a pioneer in automated compliance technology and it also offers clients cost reduction in terms of data storage and labor thereby minimizing the risk of fines and penalties too.

Read More: Top 10 Accounting Software Best Suited for B2B Companies

  1. IdentityMind Global

IdentityMind Global is a SaaS based platform building, maintaining and analyzing digital identities worldwide. The software allows companies to perform identity proofing, regulatory identification, identify and prevent fraud. The software has a built-in monitoring that enables anti-money laundering, fraud prevention and counter terrorism financing.

  1. Feedzai

This is an AI powered software to help fight financial crime. This software is best for banks, payment processors, and merchant acquirers as they can protect themselves against transactional fraud. The best thing about Feedzai is that it is fully customizable and it fits even complex environments unlike standard RegTech solutions.

  1. Provenir

Banks like HSBC, Wells Fargo and more are leveraging the benefits of Provenir with its risk analytics solutions. The in-built tools that come with Provenir can be integrated with any other finance tools for optimized risk analysis and better decision making.

Read More: Top Four Banking Trends for Improving the Customer Experience in 2020

  1. Ascent RegTech

This platform is built on the basis of various channels that are derived from various individual regulatory bodies. The platform also uses AI to check and use all applicable rules and regulations that can affect the company in real time. The users of this platform can quickly discover documents and abide to various regulations.

  1. Forter

Based in New York, Forter is a fully customized platform for retail and financial industries. It is an automated decisioning system that tracks various trends and indicates suspected fraudulent spending in less than a second. When the transactions pass through Forter, the user can have a clarity over their revenues.

These companies are changing the landscape for regulatory compliance. Modern businesses benefit by adapting to innovative RegTech solutions to streamline their regulatory issues.


Welcome! Login in to your account

Remember me Lost your password?

Lost Password