The RegTech (regulatory technology) industry has established itself as one of the most important sectors within financial technology after seeing tremendous growth in the past three years. Third annual RegTech 100 list announces the tech companies transforming compliance, risk management and cybersecurity. Over $14bn has been invested in RegTech companies since 2016, as banks and other financial institutions grapple with the costs and complexities of regulatory requirements.
In line with this growth, this year’s process to identify the leading 100 companies in the sector was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,000 companies produced by RegTech Analyst. Fifty-three new companies entered the RegTech100 for 2020 and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the compliance function.
“Employing RegTech solutions to modernize the compliance function is now mission-critical for financial institutions globally” said Mariyan Dimitrov, head of research at RegTech Analyst. “And even though 51% of RegTech 100 companies are based within the UK or US, the spread of RegTech innovation has seen companies from another 23 countries make the list.”