GRC Viewpoint

Top 10 Regtech Solution Providers 2023

Regulatory compliance was perhaps not very significant a few years ago. In the recent past, there has been a massive change in the way enterprises approach regulatory compliance. The inability to adhere to regulatory compliance may lead to fines and reputational damage. Legal issues are also likely. Regtech is of critical importance here. Regtech has made compliance highly effective and efficient. RegTech is needed for entry into new countries and markets, licensing and meeting regulatory criteria. Regtech is also relevant for start-ups besides large enterprises.

The regtech sector is rapidly growing, and new technologies and trends are likely to alter the industry in the imminent years. While regtech provides many advantages, it also has several drawbacks that must be addressed. Over-reliance on technology is one of the most severe issues. The regtech industry requires a new approach. The enterprises extending similar solutions have been able to have a competitive edge over their peers. In this edition, you will learn about some of the enterprises extending industry-specific solutions.

The size of the global RegTech market, which was estimated to be worth USD 7.74 billion in 2022, is expected to increase to USD 53.37 billion by 2030.Increased demand for third-party cyber risk management is boosting the RegTech market’s expansion. The market is expanding due to greater focus on financial regulations, higher use of cutting-edge technology, and a rapid development in the level of cooperation between national regulators and financial institutions. In this edition, we present you a list of regtech solution providers extending proven solutions to the current regtech industry

RegScale uses an API-centric strategy to integrate solutions to bridge the gap between cybersecurity and compliance. Only RegScale offers scaled management of an enterprise’s compliance program, including both manual and automated examinations.

Eventus is a top global supplier of solutions for market risk management and transaction monitoring across many asset classes. The robust Validus platform, which has won several awards, is simple to adopt, configure, and use throughout the markets for stocks, options, futures, foreign currency (FX), fixed income, and digital assets.

Ascent was founded in 2015 and is based in Chicago, IL. For banks, law firms, asset management organizations, and financial corporations, Ascent provides cloud-based regulatory compliance software.

The firm’s world-class software modules are quick to configure and integrate with existing systems seamlessly. They are based on modern technology, advanced machine learning, and algorithms to make life more efficient. The company creates industry-leading RegTech solutions for compliance, fraud detection, and counter-terrorism financing, as well as tools for corporate digitalization that automate data collection, business processes, and other tasks.

ACTICO Platform helps to make daily choices more quickly and intelligently. Further, it integrates automation technologies with business rules and machine learning.

With Apiax incorporated compliance, regulatory hurdles are removed. Technology firm Apiax creates the foundation for compliance in the online environment. All sizes of companies, from internationally active banks to FinTechs leverage the firm’s solutions.

Workiva is a leading platform for financial reporting, ESG, audit, and risk. It offers a cloud-based linked and reporting compliance platform that permits the usage of connected data and automates reporting throughout the financial industry.

TeamMate offers expert solutions, provided with premium professional services, to auditors worldwide and in every sector struggling to enhance audit efficiency while generating strategic insights.

The firm is aimed at managing risk effectively and differently. As a result, risk, compliance, and audit professionals may share information, learn from one another, and work together to take action with Riskonnect’s GRC solutions.

For information security teams that place a strong emphasis on technology, StandardFusion is an integrated risk management GRC solution.