Sphonic Named in RegTech100 2021
We are thrilled to be recognised as one of the world's most innovative RegTech companies as we head in to 2021
Specialist research firm, RegTech Analyst, has produced its fourth annual RegTech100, identifying the most innovative and transformative tech companies in the compliance, risk management and cybersecurity space.
The 100 companies are selected by a panel of industry experts and analysts from a long-list of over 1,000. They are the companies that “every financial institution needs to know about as they consider and develop their mission critical RegTech and digital transformation strategies”.
The key considerations for selection are as follows:
- Impact on the problem being solved
- Growth, in terms of capital raised, revenue, customer traction
- Innovation of technology solution offered
- Potential cost savings, efficiency improvement, impact on the value chain and/or revenue enhancements generated for clients
- How important is it for a financial institution to know about the company?
Andy Lee, Co-founder of Sphonic said:
“We are particularly pleased with the recognition our team has received this year, given the current and ongoing challenges the world is facing. Being recognised on such a prestigious list alongside some of the most innovative companies in the world is a credit to the work the team puts in every single day.
Going in to 2021, Sphonic’s product offering has never been stronger and we are very excited to see what challenges we can solve for our clients in 2021. We are committed to providing bespoke, expert-lead KYC, KYB, AML, Transaction Monitoring, Fraud and Risk solutions to our customers and we look forwards to continuing to deliver on that in 2021.”
The RegTech industry has grown dramatically over the last few years as regulation and technology capabilities push the industry forward. Financial institutions from banking and payments, to online gaming and gambling, to lending and acquiring and PSPs have been faced with relentless change, year-on-year, as regulations take hold.
2020 has exacerbated this need for change, with remote working and consumer not present transactions sky-rocketing during the Covid-19 pandemic. KYC, KYB, AML, Transaction Monitoring, Fraud and Risk solutions have been in high demand and, as a result, this year’s process of selection for the RegTech100 list was more competitive than ever.
The prestigious RegTech100 recognises companies that are keeping our important financial institutions in-step with regulation and paving the way forward with new innovations to usher in the future and stay ahead of the unrelenting pace of regulatory changes.
About RegTech Analyst
The RegTech100 is an annual list of 100 of the world’s most innovative RegTech companies. These are the companies every financial institution needs to know about as they consider and develop their mission-critical RegTech and digital transformation strategies. RegTech Analyst is the pre-eminent provider of data, research and analysis on the global RegTech market. The RegTech Analyst platform is a special version of FinTech Global, focused on RegTech, risk management tech and cybersecurity. FinTech Global offers the most comprehensive data, the most valuable insights and the most powerful analytical tools available for the global FinTech industry.