Entering its seventh year, RegTech Analyst has issued its most recent RegTech100 ranking, offering a wide view of the key players making waves in the industry

LONDON, UNITED KINGDOM, December 6, 2023 /EINPresswire.com/ -- The 2024 RegTech100 list showcases the most innovative and disruptive businesses in the regulatory technology space that are seeking to help financial institutions manage the fast-paced changes brought on by ongoing regulatory updates and technological advances.

Amid high Inflation, private investment slowdown, and spectacular examples of compliance fines and poor risk management, the RegTech sector demonstrated resilience and maintained its strong growth trajectory. Research by Fortune Business Insights found that the sector is anticipated to grow from $12.82bn in 2023 to $60.77bn by 2030, at a CAGR of 24.9% over the period.

With the market continuing to go from strength to strength, the selection process for this year’s RegTech100 was the most competitive yet, with a wide and diverse range of companies to choose from.

A panel of analysts and industry experts assessed a longlist of nearly 1,400 businesses, which was produced by RegTech Analyst. They sought to highlight the technological solutions every compliance, risk and innovation leader in financial services must be in the know about in 2024.

RegTech Analyst director of research Mariyan Dimitrov said, “With tougher economic climate and the continued rise of AI, financial institutions are re-examining the compliance software’s true cost, namely whether a given RegTech solution truly will free up compliance staff for higher-level tasks and whether the software can scale, adapt, and get implemented efficiently.

“This year’s RegTech100 list highlights the leading companies in areas such as information security, compliance, risk management and fraud prevention working on the forefront of innovation and new AI implementations who have demonstrated a strong track record delivering regulatory and operational improvements in financial services.”

Here is a sneak-peak at some of the industry-defining RegTechs which made the list:

ACTICO: leading international provider of software for intelligent automation and digital decisioning to manage risk, fulfil regulatory obligations and prevent fraud

Armadillo: launching perpetual KYC and DD on 500m companies. Full corporate information and Registry Documents, also PEPs, Sanctions and ID verification

CleverChain: transforming data into actionable insights, for seamless due diligence, risk assessment and ongoing monitoring of individuals, businesses and digital wallets

Creditro: offers an automated KYC & AML platform that secures compliance, ensures security and combats fraud, bankruptcy and money laundering

Encompass: enables firms to improve customer experience, deliver revenue faster and demonstrate consistent compliance with real-time digital KYC profiles

EverC: offers the world’s first fully automated, AI-driven cross-channel risk management platform for the online seller ecosystem

Fincom: leading AML Sanctions Screening Solution: all payment rails, seamless processing, uninterrupted payments flow, >90% reduction of operational costs

iDenfy: leading all-in-one identity verification and fraud prevention platform, helping businesses automate KYC/KYB/AML compliance

ION: provides trading and workflow automation software, high-value analytics and insights, and consulting to financial institutions, central banks, and corporates

Kaizen: offers automated solutions for Regulatory Reporting Assurance, Trade and Communications Surveillance, Research Management Tools, Shareholding Disclosure and Single Rulebook

Know Your Customer: an award-winning SaaS ecosystem, streamlining KYB procedures, corporate onboarding, and periodic review procedures for businesses worldwide

LeapXpert: the responsible business communication pioneer, provides enterprises peace of mind through compliant and secure communication solutions

NICE Actimize: the leading global provider of financial crime, risk, and compliance solutions

Red Oak Compliance: the advertising compliance review software of choice in the financial services industry

Regulo: advanced facial recognition for Sanctions, PEP, Adverse Media, Fraud screening; slashing false positives by an impressive 70%

RequirementONE: helps companies action regulatory change with a platform that includes everything needed to simplify compliance

S&P Global Market Intelligence Cappitech: leading provider of regulatory reporting, best execution analysis and business intelligence solutions for the financial services industry

Saifr: simplifies the complex regulatory landscape for compliance and marketing teams in the financial services industry using advanced artificial intelligence

Smarsh: provider of cloud-native digital communications capture, retention, and oversight solutions for organizations in highly regulated and litigious industries

SmartSearch: a leading provider of digital anti-money laundering and compliance services

Vneuron: global provider of compliance solutions for financial institutions and fintech companies covering the whole range of AML/KYC regulatory requirements

Worksmart: offers a range of RegTech solutions covering Training & Competence (TC) and accountability regimes, facilitating enhanced oversight and control

A full list of the RegTech100 for 2024 and detailed information about each company is available to download for free at www.RegTech100.com.

Mariyan Dimitrov
FinTech Global
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