back Back

5 RegTech companies to watch out for in 2022

By Joy Dumasia

December 13, 2021

  • 2022
  • AML
  • Clausematch
Share

Ascent Regtech, Chainalysis, Forter, Hummingbird, Trulioo, USARegTech is the management of regulatory processes within the financial industry through technology. The main functions of RegTech include regulatory monitoring, reporting, and compliance. RegTech uses many cutting-edge technologies such as artificial intelligence, big data, cloud computing, machine learning, to name a few, which ensure companies are more effective in reaching regulatory compliance. RegTech has helped minimize the risk of human error by automating the processes.

The following are 5 RegTech companies to watch out for in 2022:

ClauseMatch provides banks and businesses with end-to-end document discovery, authoring, governance, analytics and search platform. The CM platform is built using the latest technologies and web standards to deliver granular document authoring, management, and workflow collaboration processes.

UK-based ClauseMatch is a regulatory technology company with a SaaS offering that enables financial institutions to streamline regulatory change management through effective internal policies, standards, procedures and controls.

Recently, IBS Intelligence reported that Clausematch, a global regulatory technology company automating policy management and regulatory compliance at financial institutions and other regulated organizations, today officially launched its new functionality – document modifications. The decision to launch changes comes after a request from the company’s core clients.

London headquartered ComplyAdvantage is a RegTech company that uses AI and ML to help firms manage compliance obligations. The company provides data intelligence to help firms understand the risk of who they’re doing business with while automating compliance and risk processes.

Recently, IBS Intelligence reported that Raisin DS’s servicing bank, Raisin Bank AG, is teaming up with ComplyAdvantage, the leader in AI-driven financial crime risk detection, to scale its anti-money laundering (AML) program. Raisin Bank needed a provider to keep pace with fast growth on the heels of launching as a cloud bank. 

The scalable solutions offered by ComplyAdvantage across customer screening and monitoring and transaction monitoring will support Raisin Bank’s Banking-as-a-Service offerings.

Irish FinTech Fenergo is a provider of client onboarding lifecycle management software for corporate, investment and private banks. The RegTech’s onboarding technologies spans front and middle office operations intending to provide banking clients with an end-to-end client lifecycle management solution that includes compliance and banking process management such as onboarding compliance, legal entity data management, product onboarding, collateral management, client servicing, and credit mitigants and collateral management.

Recently, IBS Intelligence reported that Fenergo, a leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, announced that Bank ABC, one of the MENA’s leading international banks, has gone live with its digital client onboarding service leveraging Fenergo’s cloud-native CLM solution. 

Founded in 2012, Onfido is a software company that helps businesses verify people’s identities using a photo-based identity document, a selfie and artificial intelligence (AI) algorithms.

Onfido provides identity verification through its online platform. The company uses manual and automated machine learning (ML) technologies, including optical character recognition and face detection, to compare and cross-reference a person’s facial biometrics with their identity document to prevent fraud.

IBS Intelligence reported that Onfido, the customer identity verification and authentication provider, announced Onfido Face Authenticate, adding a seamless biometric face authenticator and new security tools, including Onfido Private Key Encryption, to its Real Identity Platform. 

UK-headquartered TruNarrative facilitates multi-jurisdiction customer onboarding, financial crime detection, risk & regulatory compliance. It provides unified decisioning across; Identity Verification, Fraud, eKYC, AML & Account Monitoring via a single API.

IBS Intelligence reported that TruNarrative and ieDigital had joined forces to facilitate digital transformation and provide cutting edge customer onboarding and monitoring processes, reducing account opening time to less than four minutes. The partnership will provide banks, and mutual societies access to ID verification, eKYC, AML and account monitoring technology.

ALSO READ: Cool FinTech Report 2021

Previous Article

December 13, 2021

Netcoins launches Netcoins Pay – a bitcoin rewards prepaid card

Read More
Next Article

December 14, 2021

Worldline launches card tokenisation solution in India

Read More







Advertise with us



IBSi Daily News Analysis

FinTech future

May 17, 2022

2022

Keeping up with a competitive market requires FinTech collaborations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 16, 2022

ID-Pal launches in the UK to help combat fraud at the source

Read More

May 12, 2022

BCT Digital adds Compliance Management to its rt360-GRC product suite

Read More

May 11, 2022

Sovos announces alliance with KPMG to help enterprises with VAT Compliance requirements

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More