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5 American RegTech companies powering through the Financial Industry

By Edlyn Cardoza

October 07, 2021

  • AML
  • Ascent Regtech
  • Chainalysis

Ascent Regtech, Chainalysis, Forter, Hummingbird, Trulioo, USAThe silver lining of the 2008 crushing financial collapse was the rise of regulatory technology, or commonly known as RegTech. Within the financial industry, the management of regulatory processes is through technology which is RegTech. The main functions of RegTech are reporting regulatory monitoring and compliance. 

A group of companies in the RegTech industry use cloud computing technology via SaaS, i.e., software-as-a-service, to help companies or businesses comply with regulations less expensively and efficiently. 

Here are 5 RegTech companies that are powering through the financial industry in the USA:

Ascent Regtech: Reduce your risk without increasing costs. Ascent is the AI-driven platform that helps you comply more efficiently, accurately, and cost-effectively than any other alternative. Ascent invented a new type of technology called Regulatory Knowledge Automation (RKA) that generates a complete set of obligations targeted to your business and automatically keeps them updated. Know exactly what you need to do to comply, without throwing more money and people at the problem. Ascent believes they are not changing the game of regulatory compliance; they are simply changing the way it is played — and the way it is won.

Chainalysis: Chainalysis offers cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators, and businesses as they work together to fight illicit cryptocurrency activity. Backed by Benchmark and other leading names in venture capital, Chainalysis builds trust in blockchains.

Forter: Forter is the leader in e-commerce fraud prevention, processing over $250 billion in online commerce transactions and protecting more than a billion consumers globally from credit card fraud, account takeover, identity theft and more. The company’s identity-based fraud prevention solution detects fraudulent activity in real-time throughout all online consumer experiences. Forter’s integrated fraud prevention platform is powered by its rapidly growing global network, underpinned by predictive fraud research and modelling, and the ability for customers to tailor the platform for their specific needs. Forter has raised more than $500M of capital from top-tier VCs, including Sequoia, Bessemer Venture Partners, NewView Capital, Tiger Global Management, Scale Venture Partners, March Capital and Salesforce Ventures.

Hummingbird: Hummingbird gives the people fighting financial crimes superpowers. Their service is designed to enhance anti-money laundering and counter-terrorist financing investigations. It reduces cumbersome paperwork, provides insightful analytics, and collaborates with compliance professionals and law enforcement agents. They are on a mission to turn the tables against criminals who pollute our financial system. Modern criminals are sophisticated, tech-savvy, and agile. The tools used to fight financial crimes should be, too.

Trulioo: Trulioo is a RegTech company. They build and connect digital identity networks around the globe, and this framework of trust empowers businesses to assess the various risks associated with digital identities. Trulioo offers the most robust and comprehensive global identity verification solution in the market. Through one single portal/API, Trulioo can assist you with all your AML/KYC identity verification requirements by providing secure access to over 5 billion identities worldwide. The Trulioo mission of trust, privacy and inclusion is about recreating the trust of a village, but on a global scale. They are on a mission to ensure no one is left behind and everyone participates fully in the modern digital economy. 

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