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3 RegTech companies helping the financial industry meet regulatory norms

By Leandra Monteiro

September 28, 2022

  • AML
  • Biometrics
  • Cappitech
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RegTech, financial industry The adoption of biometrics, fraud management, KYC and AML technologies have increased to boost security and compliance in the financial industry. RegTech or Regulatory Technology enables businesses to comply and manage regulatory processes in the financial industry, though it has its applications in other sectors as well.

The applications of RegTechs in banking and financial services institutions can be mainly classified into regulatory compliance, financial crime, KYC and identity management, and risk management. With the increase in the amount of data availability, new start-ups are coming along with RegTech solutions, helping businesses to comply with their regulatory burdens in a cost-effective manner.

Here are 3 RegTech companies to look out for:

Cappitech

Cappitech by S&P Global is a provider of regulatory reporting, execution analysis and business intelligence solutions for the financial services industry. Its cross-jurisdiction compliance platform fully automates the reporting process and provides a comprehensive view on a single, intuitive dashboard for reporting regimes such as EMIR, MiFID, SFTR, FinfraG, CFTC, SEC, Canadian reporting, ASIC JFSA, HKMA and MAS.

Offering next-generation analytics, the company is revolutionising the way financial services firms meet their compliance obligations by offering actionable insights that drive sales and improve execution quality derived from compliance data. Led by a team of experts its clients comprise of over 500 global banks, brokers, asset managers and corporates.

Finchat

Finchat enables compliance monitoring, chat archival and chatbots for popular messaging apps in regulated enterprises legally. FinChat solutions are based on Official APIs of instant messengers and use legal means for compliance and analytics.

Finchat offers the full spectrum of Compliance monitoring and archiving tools for messaging in regulated industries, for instance, financial institutions. This allows employees to engage clients through client’s favourite messaging apps (WhatsApp™, WeChat™, LINE™, FB messenger™, Skype™ and more) while staying audit-compliant, secure and mobile. FinChat offers web-based and mobile-based compliance tools where business chats are monitored while private chats remain private.

Kyo Lab

KyoLAB is a RegTech start-up, an alumnus of Startupbootcamp FinTech London 2016 and the Citi Tech for Integrity Challenge 2017. KyoLAB helps businesses engage with their clients through popular mobile messaging apps a compliant way.

Messaging apps like WhatsApp are increasingly popular among businesses, helping them engage better with their clients. The problem is that most popular messaging apps are not compliant. Strict regulations demand that all electronic communications are recorded and retrievable on request, e.g. MiFID II (Markets in Financial Instruments Directive II) coming in January 2018.

KyoLAB set out to fix this issue, using their proprietary technology to capture conversations of popular mobile messaging apps like WhatsApp, WeChat, Telegram, Signal, and others for compliance. Their technology retains all information for audit trail and dispute resolution.

KyoLAB serves the financial services market, the public sector, healthcare, meida, logistics and other industries with need for mobile social media compliance and corporate governance.

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