The Best-of-Breed RegTech Companies for FinTechs and Beyond
swiftscale’s pick of AI-enabled RegTech solutions
In today's shifting regulatory environment, due to additional risks for consumers, there are ever-changing rules and requirements for businesses. The consequences of non-compliance are severe – hefty fines, damaged reputations, and even the potential for business closure. That’s why Regulatory Technology (RegTech) has become such a critical focus. Innovative RegTech scaleups enabled by AI are emerging with solutions that can revolutionise how companies manage compliance, providing efficiency, accuracy, and much-needed peace of mind. They’re solutions we’re seeing companies procure at a faster rate because the technology helps keep them one step ahead of the competition and focus on what matters most, growing their business.
We've created this list to highlight some of the most groundbreaking RegTech scaleups leading this transformation. It’s not just KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, we’re also looking at tools to mitigate data leaks from social apps and privacy compliance software.
At swiftscale, our network includes the leading scaleups with the best-in-class solutions. We’re sharing a few of the key players in the RegTech space that we think you should keep an eye on or consider implementing. NB: This article isn’t sponsored. We just exist to ensure nothing stands in the way of great people solving hard problems. We help scaleups get in front of their target market, by making the right connections at the right time.
swiftscale’s pick of AI-enabled RegTech solutions:
CleverChain
CleverChain is a reg-tech platform which leverages niche financial crime domain expertise, intelligent automation and Machine Learning to perform AML controls accurately, efficiently and compliantly.
Cleverchain's proprietary platform allows compliance teams to automatically perform sanctions, PEP, adverse media and enforcement checks against individuals and businesses with 90% reduction in false positives and the ability to continuously monitor and assess customers for changes in their risk profile.
They offer services such as digital wallet screening and UBO identification.
For business leaders in the financial sector, CleverChain offers a comprehensive solution to streamline AML compliance processes and enhance operational efficiency. By leveraging CleverChain's capabilities, you can:
Reduce costs: Automate manual tasks and streamline risk assessments, leading to significant cost savings
Improve efficiency: Allocate resources effectively by focusing on high-risk activities identified by CleverChain's AI
Minimise risk: Proactively identify and mitigate potential money laundering and terrorist financing activities
Enhance regulatory compliance: Ensure adherence to evolving AML regulations with confidence
Why we love CleverChain
Strong market position: CleverChain is positioned at the forefront of a rapidly growing market, with the global AML compliance market expected to reach $10.5 billion by 2027
Proven technology: The company's AI and machine learning algorithms deliver superior accuracy in identifying suspicious activity, enabling financial institutions to effectively mitigate risk
Scalable and secure platform: CleverChain's cloud-based platform ensures seamless integration, scalability, and robust security, meeting the demands of even the largest financial institutions
DeepView
DeepView empowers businesses to leverage the power of social media while mitigating associated risks.
Their AI algorithm and patent-pending technology are built to read photos. It’s a solution that allows companies to manage data leaks from photos, videos and text shared by employees, thereby protecting companies from inadvertent and intentional data leaks.
The advanced encryption recording solution meets GDPR and MiFID II standards. The platform instantly notifies users to confidential company data being shared for immediate action, whilst also recording and archiving all business communications across current and emerging social channels.
DeepView equips business leaders with the tools and resources necessary to safeguard their brand reputation and cultivate a responsible social media culture within their organisations. By partnering with DeepView, you can:
Mitigate risk: Proactively identify and address potential social media risks that could damage your brand reputation or lead to compliance issues
Ensure regulatory compliance: Navigate the complexities of social media regulations with confidence, knowing your organisation is adhering to best practices
Empower employees: Educate and empower your employees to use social media responsibly and effectively, fostering a more productive and compliant work environment
Client testimonial:
“DeepView's WhatsApp recording is the slickest, simplest solution we've seen. Only took our analysts 90 seconds to set up. They could then use WhatsApp as normal, safely and within the regulatory requirements.” - Douglas Monticciolo, Managing Director at Brevet
Secuvy
Secuvyai is a cloud-based data privacy, security and governance platform intended to fulfil privacy compliance via AI-driven workflows. The company's platform lets the user automatically:
Catalog and map sensitive data
Correlate and add context to data relationships
Auto-generate reports to track important metrics
Automate compliance and security risk evaluation
Secuvyai enables businesses to measure, monitor, and mitigate the business risks most critical to customers’ privacy and brand reputation.
For business leaders, Secuvyai offers a comprehensive solution to simplify data privacy compliance and empower informed decision-making. By leveraging Secuvyai’s platform, you can:
Reduce compliance costs: Automate manual tasks and streamline compliance processes, leading to significant cost savings
Mitigate data privacy risks: Proactively identify and address potential data privacy risks, safeguarding your organisation's reputation and avoiding costly regulatory fines
Gain data visibility: Gain comprehensive insights into your data landscape, enabling informed decision-making regarding data governance and privacy practices
WiseWorks
WiseWorks uses deep learning techniques to gain as much insight as possible from the context, as well as the content, of speech. It increases sales productivity by monitoring sales campaigns, all the while having a focus on privacy and compliance.
WiseWorks meets MiFID II trade transparency requirements and can detect breaches of regulations such as investment suitability and market abuse. The software is customisable, allowing users to add certain trigger words in conversations which will generate an alert. For example, if users are not meant to disclose their new client before a contract is completed, the client name can be made into a trigger word.
For business leaders, WiseWorks offers a transformative solution to unlock the hidden potential within your organisation's communication. By partnering with WiseWorks, you can:
Increase internal communication effectiveness: Gain data-driven insights into communication patterns, identify areas for improvement and foster a culture of effective communication across all levels of your organisation
Enhance employee engagement: Empower employees to communicate more effectively and collaboratively, leading to increased engagement, productivity, and overall satisfaction
Optimise business processes: Leverage communication intelligence to streamline workflows, identify areas for cost reduction, and make data-driven decisions that drive business growth
Customer testimonial:
“Easy to use the product, did what I expected. Great value potential with insider trading or other prohibited conversations.” — Equity Derivatives Trader, Morgan Stanley
Want to learn more about these scaleups and meet the founding teams? Got a different kind of challenge you need to solve? Get in touch at hello@swiftscale.co, we’d love to chat