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4 RegTech companies reducing compliance burden in Ireland

By Gloria Methri

November 29, 2022

  • Compliance
  • Corlytics
  • Fenergo
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RegTech, Ireland, Financial institutions, compliance, regulatoryRegTech is a Regulatory Technology that enables businesses to comply with and manage regulatory processes in the financial industry.

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 4 RegTech companies in Ireland to look out for:

RegBot is a virtual regulatory co-pilot that meets the compliance requirements of companies. It delivers client-protecting bots during the compliance process. Each bot is regulation-specific and is engineered to provide a streamlined compliance mechanism for first-line staff, e.g., Front Office.

ID-Pal enables businesses to verify the identity of customers in real-time securely and conveniently. As an API/SDK, the RegTech uses mobile technologies to reduce the cost and risk associated with customer onboarding whilst removing friction from the user experience. With ID-Pal, businesses can onboard their customers either in-person or remotely in just a few minutes.

Fenergo develops SaaS FinTech solutions to improve client lifecycle management (CLM) and support regulatory compliance. Its technology enables financial institutions to transform the end-to-client onboarding and lifecycle experience; monitor risks and ensure regulatory compliance (across KYC, AML, ESG, Tax, SFTR, and Data Privacy frameworks).

Corlytics is a regulatory risk intelligence company that operates as a strategic partner to banks and financial institutions globally. It combines innovative technology with legal expertise to monitor, assess, map, and align regulatory changes to alert relevant areas of the business. In addition to taxonomy mapping and advisory services, the RegTech offers risk management solutions to companies for effective investment planning.

ALSO READ: Risk Management Systems and Suppliers Report Q3 2022

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