Specialist RegTech provider Shield Financial Compliance (Shield FC) is proud to announce it has been named as one of Financial Technologist Magazine’s List of the Most Influential FinTech Companies for 2019.

Shield FC was chosen by a select panel of esteemed financial sector experts from Barclays, EY, Lloyds Banking Group, Baringa, The Realization Group, RBC, Simmons & Simmons, Everledger, Cruxy & Co, Man Group, Credit Agricole, TD Securities, Mixpanel and Harrington Starr’s Financial Technologist Magazine. 

Shiran Weitzman, CEO and Co-Founder at Shield FC stated, “We are honoured to be included in this year’s list by the expert panel. We believe our unique RegTech platform is the future of automated and intelligent regulation compliance and continue to enhance and develop it to meet evolving needs and developments in the sector. Recognition in this list is a perfect example of our expertise as we continue building and growing Shield.”

Shield FC’s platform offers the complete solution for regulation compliance monitoring and reporting. As well as providing data compliance across the whole lifecycle (from capture, to secure analysis and flexible but comprehensive investigation) it is future-proof, constantly evolving to meet future challenges from new legislation and advances in technology. 

Reflecting upon why Shield FC made the 2019 list Shiran Weitzman added, “As well as a uniquely powerful technology, our business also features an exceptional team of talented experts in both systems and business excellence, a strong and rapidly growing partner network across Europe and beyond, and field-proven solutions that can be deployed rapidly and easily with existing systems for immediate benefits.” 

Much of the current legislation (such as GDPR and MiFID II) and forthcoming regulations (such as the forthcoming EU e-Privacy legislation) mean that the traditional manual compliance monitoring has become impractical, expensive and unreliable – ensuring excellent RegTech solutions are a necessity for financial firms. 

Shiran Weitzman commented, “On average, some 20% of operational costs are spent on compliance and 10-15% of employees are currently manually monitoring compliance alerts and this is set to double by 2020, which is unsustainable and simply unacceptable! Financial firms need a holistic and automated but totally reliable solution that is also cost effective.”

Shiran Weitzman concluded, “Undoubtedly 2019 will be a very exciting year for Shield FC. We are determined to transform the financial sector’s approach and attitude to regulatory compliance, continuing to fine-tune and perfect our platform and growing our business to meet the burgeoning market demand for change.”

Shield FC’S platform continues to gain attention and praise, having recently also become a finalist in both the ‘Best Trade Reconstruction Solution for Best Execution’ and special ‘BSO Award for Fintech Innovation’ categories of the TradingTech Awards Europe 2019.