Increased financial regulation and a need for more insight and evaluation has seen a boom in regulatory technology companies (regtech) in the UK.
The UK’s Financial Conduct Authority is the most progressive fintech regulator in the world. Two programmes they have developed show their commitment to helping UK fintech companies.
‘Project Innovate’ helps startup companies navigate the UK’s complex regulatory landscape. While ‘Regulatory Sandbox’ allows fintech innovations to be tested on the market without being held up by regulation.
Even in a strong regulatory environment, UK regtech companies are encouraged to be innovative while remaining secure and trusted providers.
Leading the way
British regtechs are leading the way in making financial regulation and compliance smarter by improving know your customer (KYC) and anti-money laundering (AML) checks.
ComplyAdvantage provides real-time AML risk data and next-generation screening technology to help companies prevent financial crime.
Using new technologies such as artificial intelligence and machine learning, it’s making huge improvements in AML and KYC compliance processes, helping banks to automate and improve how they screen new clients.
With offices in London, Singapore and New York, ComplyAdvantage helps more than 300 firms comply with regulations and reduce AML risk.
There are many reasons why a global business seeking the most innovative regtech services should partner with British companies.
The UK is one of the leading locations for financial services in Europe. It has an innovative talent pool, supportive infrastructure and a strong and responsive regulatory environment.
Contact us to find UK regtech companies.