IdentityMind Global was recently selected to “10 RegTech Companies Making Waves in the Industry” by Disruptor Daily. The World Bank estimates that almost 8% of the Gross National Product of advanced economies is spent on regulatory compliance. For less developed countries, this percentage is even higher. Given the size of the global economy, we can assume that over $10 trillion is spent annually on regulatory compliance! The financial sector has always been an early adopter of technologies, something which is necessitated by its need for transactional accuracy, speed and large volume. The last financial crisis put an even greater emphasis on financial sector regulation and it is against this backdrop of soaring regulatory costs and FinTech innovation that RegTech has started to gain popularity. Here, Disruptor Daily looks at some of the most innovative and promising RegTech companies in the world.
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Guide: How Compliance Teams Can Transition Away From Spreadsheets
Blog: Using Interquartile Range (IQR) to Highlight Risk
Product: Transaction Monitoring
Product: IdentityMind Version 2.0