The world’s most innovative technology solution providers that address the challenges and opportunities of dealing with regulatory issues within financial services, were announced last week by RegTech Analyst, a specialist research firm. AutoRek is proud to be listed as one of the top 100.
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. 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.
AutoRek is a financial controls, regulatory reporting and data management platform which provides complete and seamless control of data. AutoRek has seen a huge demand in within the financial services sector for regulatory reporting solutions and many firms have already implemented AutoRek to meet their reporting requirements. Lyn Canavan, Head of Marketing at AutoRek, said “AutoRek are proud to be listed in the RegTech 100 for the 2nd year in a row. This award shows our commitment to delivering regulatory reporting solutions to the financial services industry and is a testament to the innovation strategy behind our product. AutoRek is a fast paced and innovative RegTech with a customer base made up of some of the world’s leading financial services companies.”
“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.”
A full list of the RegTech 100 is available at www.RegTech100.com. More detailed information about the companies is available to download in a research pdf on the website.