Press Release: RegCentric named a RegTech100 company
Sydney, 2 December 2020
RegCentric today announced that it has entered the global list of top 100 Regulatory Technology companies for 2021. The prestigious annual RegTech100 listing recognizes global innovators that address the challenges of dealing with regulatory pressures within financial services.
The RegTech (regulatory technology) industry has experienced huge growth in the last few years as banks and financial institutions grapple with the unrelenting pace of regulatory change across all jurisdictions. Over $5bn has been invested in RegTech companies so far in 2020, according to data published by RegTech Analyst, as the compliance challenges have only been exacerbated by the shift to remote work during Covid-19.
As a result, this year’s process to identify the 100 RegTech innovation leaders 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. Sixty-two new companies entered the RegTech100 for 2021 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.
RegTech Analyst director of research Mariyan Dimitrov said, “Banks and other financial institutions need to be aware of the latest RegTech innovation in the market in order to avoid new compliance risks and stay competitive despite new regulations around customer onboarding and remote communication post Covid-19. The RegTech100 list helps senior management filter through all the vendors in the market by highlighting the leading companies in sectors such as identity verification, risk management, communications monitoring, information security and reporting.”
“It is an honor to be recognized for our innovative services and solutions. Our holistic and strategic approach to regulatory initiatives in Finance, Risk and Regulatory Reporting is delivering positive ROI to our clients. Being recognised on a global listing is testament to our team’s ability to deliver exceptional business and compliance outcomes,” said Thomas Verlaet, Founder and principal consultant at RegCentric.
“By connecting the dots across regulatory initiatives, aligning compliance objectives with corporate strategy and by leveraging the latest technologies in an eco-system approach, we deliver sustainable outcomes that lower the cost of compliance while increasing the value and insights Finance, Risk and Reporting departments add back into the business”
RegCentric supplements its services with innovative solutions that take advantage of the latest technologies. Its Reg360 solution is an API management platform that changes how regulators and firms exchange critical compliance information. Instead of having a periodic reporting model, Reg360 employs an on-demand data mining tool that allows regulators to automatically codify the reporting information they need. Its other flagship tool is the RegConnect, which automates regulatory reporting processes for financial institutions. RegCentric also delivers micro-services based solutions for credit risk, IFRS 9 and Basel IV using streaming technology.
A full list of the RegTech100 can be found at www.RegTech100.com.
More detailed information about the companies is available to download for free on the website.
RegCentric delivers innovative services and solutions in an eco-system that leverage the latest advances in technology to increase efficiency, provide insights, reduce risks, and ensure regulatory compliance. The company reimagines how regulators and regulated industry exchange information leveraging cutting-edge technology creating an efficient and safer financial system. The company’s services and solutions take a holistic approach across risk management, regulatory reporting, and data management.
For more information, visit www.regcentric.com.