The World’s Most Innovative RegTech Companies
FeedStock has been selected for FinTech Global’s REGTECH100 2020; a list of the world’s most innovative and influential RegTech companies. Each year, FinTech Global selects the companies “every financial institution needs to know about” as they consider and develop their mission critical RegTech and digital transformation strategies.
The REGTECH100 has been updated for 2020 to recognise the next-generation of solution providers shaping the future of the compliance, risk management and cybersecurity industries. 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.
FeedStock Co-Founder Lucas Wurfbain commented on the recognition:
“We are delighted to have been chosen for the REGTECH100. This is recognition of FeedStock’s industry leading automatic MiFID II inducement monitor and research tracking solution, Cortex. We have seen a marked up-tick in demand for our Cortex product as investment managers seek not only to mitigate compliance risks but also to reduce costs and minimise disruption on revenue-generating activities. This is only possible with fully automated systems like Cortex.”
Mariyan Dimitrov, Head of Research at RegTech Analyst spoke about the reasons behind the strength and breadth of this year’s entries: “Employing RegTech solutions to modernize the compliance function is now mission-critical for financial institutions globally. 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.”
With the support of the FCA, the RegTech 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.
The FCA supports the continued drive across the financial services industry to leverage technology to deliver regulatory compliance and improved business performance.
The FCA’s Chairman Charles Randell detailed in his foreword in the FCA Business Plan 2019 – 2020: “Technology change can bring opportunities for innovation and lower costs […] We will look at ways to reduce the regulatory burden on firms by further work on the use of technology in regulation – RegTech.”