Vancouver’s Trulioo has been named to the RegTech100 list.
Now in its fifth edition, the list recognizes the world’s most innovative technology solution providers that offer products and services in the areas of compliance, risk management, information security and financial crime.
The RegTech (regulatory technology) industry has experienced rapid growth over the last two years as financial institutions dealt with rising tide of regulatory changes and rules updates brought by remote working and increased use of digital channels post Covid-19.
As a result, RegTech spending by banks and other highly regulated institutions is projected to exceed $130 billion by 2025.
Thus, it’s not surprising this year’s process to identify the 100 RegTech innovation leaders was more competitive than ever.
A panel of analysts and industry experts voted from a longlist of nearly 1,200 companies produced by RegTech Analyst, a specialist research firm.
Sixty new companies entered the RegTech100 for 2022 and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the compliance function.
RegTech Analyst director of research Mariyan Dimitrov said, “Banks and other financial institutions are investing heavily into AI capabilities to automate highly manual regulatory tasks, support digital onboarding processes and monitor for fraudulent activity. The RegTech100 list helps them filter through all the vendors in the market by highlighting the leading companies in sectors such as identity verification, risk management, communications monitoring, information security and financial crime prevention.”
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