RegTech is short for regulatory technology and it is a sector that has gone from obscurity to prominence since 2015. As the name suggests, RegTech startups use new technology to help ease the burden on firms from new regulatory requirements, often but not exclusively for financial firms.
Rob Moffat, partner at Balderton Capital, a venture capital firm that has invested in two of the startups on this list, told Techworld: “The banks are under pressure and finding it hard to find new revenue sources. There is more and more regulatory costs, so they are more open to ways to change and improve there.”
Here are some of the most interesting RegTech startups in the UK today, whether they are helping big banks stay ahead of their complex compliance requirements, or businesses remain compliant through smarter anti-money laundering (AML) and know your customer (KYC) checks.