The world of regulatory technology (regtech) moves as quickly as regulations and compliance. Here are just some of the latest regtech headlines and news stories.
Regtech Vendors more popular than In-House Solutions
A report from IHS Markit has shown that most firms prefer using third-party vendors over developing their in-house solutions when it comes to regulatory reporting.
86% of the 90 survey respondents were using some form of regtech vendor and 60% used a combination of in-house regtech solutions and third-party vendors.
Sony Backs Clausematch
The 10-year-old regtech Clausematch platform has raised $10.8m of funding from the Sony Innovation Fund and Flashpoint and aims for growth in Europe and North America with the funding.
The investment is key for Sony Ventures Corporation in a world where ever-changing regulations are making compliance through technology and automation a necessity and a market that’s expected to reach $55billion by 2025.
Regtech Salv Partners with Fintech Juni
The Estonian regtech company Salv has partnered with Sweden’s Juni fintech company. Juni’s e-commerce financial platform is looking to improve with the security offered by Salv, particularly when it comes to the detection and tracking of financial criminals.
The Global Regtech Trend
There are several factors positively influencing the regtech market including global digitalisation, BFSI growth, and increased online fraud are all driving regtech market growth.
With regtech playing an important role in fraud prevention and AML and the continued and increased involvement of AI solutions, things are looking very good.
Regtech b.fine partners with Point Nine
Belgium’s b.fine developed b.rx, a cloud-based data-driven regulatory reporting platform. Point Nine is a B2B venture capital firm from Germany focusing on B2B SaaS and B2B marketplaces.
b.fine is looking to improve its reporting capabilities for trade and transactions through the partnership with Point Nine and by including their trade and transaction reporting solution on the b.rx Marketplace.
2022 FinTech RegTech Global Awards
Central Banking hosted the fifth edition of its annual FinTech RegTech Global Awards and handed out 19 awards.
Regnology picked up the Global Technology Partner award for being a “world-class provider of regtech and suptech solutions”.