RegTech Analyst has today announced the RegTech100 list for 2022
Now in its fifth year, this prestigious list highlights the world’s best tech companies that are transforming regulatory processes in financial services. AsiaVerify has been included in this list for the first time, recognizing our innovative and transformative applications in the RegTech space.
The regulatory technology industry has experienced rapid transformation and growth as financial institutions navigate the increasingly complex landscape of regulatory changes and rules updates, further accelerated by international border closures, 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 $130bn by 2025.
The companies listed are the world’s most innovative technology solution providers, offering transformational products and services in the areas of compliance, risk management, information security, and financial crime.
Specialist industry research firm, RegTech Analyst has confirmed that identifying the world’s top 100 RegTech innovation leaders this year was more competitive than ever. A panel of analysts and industry experts voted from the preliminary longlist of nearly 1,200 high-performing companies, a selection process that resulted in sixty new companies entering the RegTech 100 for the first time in 2022. Finalists were recognised 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.”
AsiaVerify CEO, Ficoal Dong, said “We are delighted to be named as one of the top 100 RegTech companies in the world. To have our transformative applications recognized in our second year of business is a vindication of the forward-looking, user-friendly, and customer-led approach which underpins our business. We look forward to continuing to support our new and existing clients with our continuing innovation and leadership to solve the complex problems of business verification, digital onboarding and the avoidance of fraudulent activity across borders, cultures, and languages.”