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4 prominent RegTech companies in the USA

By Edlyn Cardoza

May 30, 2022

  • Alloy
  • Chainalysis
  • Compliance
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Compliance, USA, Financial Institutions, Alloy, Chainalysis, Forter, Exiger, Security NumberRegTech comprises the power of AI, big data, and even blockchain to reduce financial risk, increase regulatory compliance, and eliminate fraud and laundering. RegTech is already having a significant impact on regulatory compliance. The RegTech industry promises to disrupt the regulatory landscape by providing advanced tech solutions to the growing compliance demands within the financial sector.

RegTech companies have witnessed rapid growth over the last two years, as financial institutions had to deal with remote working, the rising wave of regulatory rules and changes, and demand for the use of digital channels due to COVID-19.

The RegTech industry comprises emerging startups engaged in providing a range of tech products for regulators and financial institutions for structured implementation and monitoring of financial regulations.

Here are 4 prominent RegTech companies in America:

Alloy helps banks and FinTech companies reduce friction between them and their customers by seeing beyond their address and social security number. Alloy is helping create a future in which banking is accessible for all. Helping small credit unions and local banks expand their digital product offerings to serve their communities better, as well as trying to help financial institutions remove some of the bias in decision making by providing easy access to alternative data sources to help verify applicants who might not have traditional identification such as a driver’s license.

Chainalysis is a blockchain data platform. They provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Their data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely.

Exiger is revolutionising how corporations, government agencies, and banks manage risk through its technology-enabled and SaaS solutions. In recognition of the growing volume and complexity of data and regulation, Exiger is committed to creating a more sustainable risk and compliance environment through its holistic and innovative approach to problem-solving. Exiger’s mission to make the world a safer place to do business drives its AI technology platform built to anticipate the market’s most pressing needs related to evolving ESG, cyber, financial crime, third-party and supply chain risk.

Forter is the Trust Platform for digital commerce. With Forter, enterprises generate more revenue and reduce losses to fraud and abuse by making accurate and real-time decisions about every digital interaction. Forter was founded on the insight that it’s not about what is being purchased or where but who is behind the interaction. As a result, Forter continues to expand its global customer network— processing more than $250 billion in gross merchandise value per year.

As the company grows, its customers benefit further; a fraudster detected by one customer is instantly recognisable to all Forter customers. Only automation can facilitate the speed, scale, and accuracy needed to approve more transactions, block more fraud attempts, and deliver better customer experiences.

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