London-based Regtech firm Napier, specialists in AI for compliance and AML, announced today that it has been recognised in the 2020 edition of the annual RegTech 100 list of the world’s most innovative RegTech companies.
The RegTech 100 list acknowledges companies for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the compliance function.
RegTech, a high growth subsector of the fintech industry has seen over $14bn of investment since 2016 as financial institutions have turned to cutting edge technology to meet the ever growing demands of regulators and to combat increasingly sophisticated bad actors.
This year’s process to identify the leading 100 companies in the sector was more competitive than ever. 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 ability to solve major industry challenges and drive new levels of efficiency.
“We are delighted to be part of the RegTech 100 list and to be recognised for our expertise in AI and compliance technology,” said Julian Dixon, CEO of Napier. “Napier is changing the way companies approach compliance – rapidly moving it from chore to competitive edge as our tools empower compliance teams to make better risk-based decisions with unprecedented speed and accuracy.”
“Employing RegTech solutions to modernize the compliance function is now mission-critical for financial institutions globally,” said Mariyan Dimitrov, head of research at RegTech Analyst. “And 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.”