Fifth annual RegTech100 lists the companies compliance teams must know in 2022

As investment into RegTech skyrockets in 2021, RegTech Analyst has named the 100 must know companies in the sector as we head into 2022.

The fifth edition of the RegTech100 identifies the most innovative technology providers that are offering products for compliance, risk management, information security and financial crime.

A panel of analysts and industry experts voted on a list of almost 1,200 companies, which had been produced by specialty research firm RegTech Analyst. The finalists were recognised for their use of technology to solve industry problems or generate improvements across compliance functions. This year’s list welcomes 60 new entrants.

The RegTech sector is booming. In just the first three quarters of 2020 a total of $13.5bn has been invested across 320 transactions, according to data from FinTech Global. This already represents a 68.7% increase in funding compared to the whole of 2019.

Global investment has come a long way in five years, with a total of $35.2bn invested in this time. In 2017 just $1.5bn was invested through 158 deals. Funding grew at a CAGR of 74.7% over the period of 2017 to 2020.

RegTech Analyst director of research Mariyan Dimitrov said, “Banks and other financial institutions are investing heavily into AI capabilities to automate highly manual regulatory tasks, support digital onboarding processes and monitor for fraudulent activity.

“The RegTech100 list helps them filter through all the vendors in the market by highlighting the leading companies in sectors such as identity verification, risk management, communications monitoring, information security and financial crime prevention.”

Many of the RegTech companies listed in the RegTech100 have also had impressive years of growth.

Trulioo provides real-time identity and business verification for five billion people and 330 million companies around the world through one API. In June, the RegTech company reached a valuation of $1.75bn following the close of its Series D round on $394m. The company raised the funds to accelerate its mission of being an end-to-end identity platform. Supporting this mission, it recently received regulatory approval from German Media Authorities to provide age verification services in telemedia.

Another RegTech company to hit the headlines this year was trade surveillance and market risk solutions developer Eventus Systems. One of its notable developments this year was the close of a $30m Series B funding round, which was led by Centana Growth Partners.  The RegTech company has also been busy forming partnerships with other players in the market. It teamed up with blockchain-based corporate bond trading startup LedgerEdge to boost the former company’s efforts with real-time surveillance. Another partnership saw Eventus deploy its technology to help OSL Digital Securities meet compliance.

Partnerships have become very common within the RegTech sector. Another one of the RegTech100 to sign a deal this year was eflow Global, a leading provider of regulatory compliance software for best execution, market abuse, regulatory reporting and transaction reporting in financial services. The company recently teamed up with Vectalis, an equities derivatives platform. Through the agreement, the companies provide the over-the-counter equity derivative market with an improved solution to simplify compliance workflows. eflow’s founder and CEO Ben Parker recently spoke to FinTech Global about how the company went through two foundations to become the leading provider it is today.

Muinmos, an award-winning, AI-powered client onboarding platform, has also been busy making partnerships this year. The company recently teamed up with RHT Compliance Solutions in Singapore, which will give clients access to Muinmos’ proprietary Regulatory Onboarding Engine.

Many of the RegTech companies listed have secured funding rounds this year. Among them is VoxSmart, which closed $25m in growth equity from Toscafund Asset Management. The company, which helps businesses see their communications data in a clear and compliant way to effectively mitigate business risks, raised the funds to support the expansion of its technology and enhance supervision controls. The company recently pushed ahead with its expansion plans, with the launch of an office in New Zealand to bolster its presence in the APAC region.

LeapXpert, which enables companies to compliantly use messaging applications, recently closed a Series A funding round on an undisclosed amount. Apiax, which offers embedded compliance, also raised funds this year, as it looks to enter the German market. Another company to raise capital is b-fine, a RegTech scale-up supporting regulatory reporting. The RegTech company raised $1.21m in January to support the development of its platform.

Some of the other companies to make this year’s RegTech100 list are: 6clicks, an AI-powered GRC solution; ACTICO, which provides software for intelligent automation and digital decisioning to manage risk, fulfil regulatory obligations and prevent fraud; Keepabl, a privacy management SaaS that automates privacy governance; Armadillo, an RPA provider to improve KYC/EDD; ACA Group, a GRC advisor for financial services; Know Your Customer, which offers digital onboarding solutions;, a low-code process management platform; and Hummingbird, which offers case management tools and automated SAR filing capabilities.

One of the RegTech100 companies to feature several times in the news was Elliptic. The company offers blockchain analytics data and solutions to crypto businesses and financial institutions to manage financial crime risk in crypto. In October, the company raised $60m in its Series C round, which was backed by Evolution Equity Partners, SoftBank Vision Fund 2, AlbionVC and many others. The company has also formed several partnerships, including deals with Revolut and ComplyAdvantage.

Regnology also joined the RegTech100 this year. The company went through a rebranding in October, moving away from its former name of BearingPoint RegTech. It rebranded to kickstart its operational independency, having previously been part of BearingPoint Group.  The company is an international provider of innovative regulatory, risk, and supervisory technology solutions and services across the regulatory value chain.

Other RegTechs in the list are: MyComplianceOffice, a best-of-breed compliance monitoring solution; Napier, an AI-powered platform transforming financial crime compliance from an obligation to a competitive advantage; QuantaVerse from AML RightSource, an AML platform that eradicates false positives, automates investigations and uncovers risk by discerning anomalies typically missed; Red Oak Compliance, a compliance review software; Smarsh, which provides cloud-native electronic communications capture, retention, and oversight; Sphonic, which offers an identity orchestration solution to automate KYC, AML, fraud and more; Symphony AyasdiAI, which gives financial institutions a complete picture of third-party behaviours; and Vneuron a global provider of compliance solutions for financial institutions.

The full RegTech100 list, which can be downloaded for free, can be found at

Copyright © 2021 FinTech Global

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