RegTech Companies in Europe Driving Down Compliance Costs to Enable Innovation

July 14, 2017     By : Dhruv Khurjekar

In the financial services industry, compliance is not an option. It is the speed-inhibiting layers of operations that are extremely expensive and becomes even more expensive if not done correctly. In response to the severe need for efficient, tech-powered solutions, emerged one of the most outstanding segments in the FinTech industry – regulatory technology, or RegTech. RegTech refers to a set of companies and solutions that address regulatory challenges across industries, including financial services, through innovative technology.

RegTech, which uses information technology in the context of regulatory monitoring, is expanding rapidly around the world. In the past, the LTP Team has covered US RegTech industry, emphasizing innovative solutions entrepreneurs have developed to significantly bring down compliance costs and enhance the function for institutional players.

This time, leveraging data from MEDICI, FinTech’s Global Knowledge Network, we have visualized the RegTech industry in Europe (companies launched, operating, and expanded in the European region). With the United Kingdom as a leading contender, Europe currently contains over one hundred RegTech companies, and this number is growing.

As with many other segments in the FinTech industry, the lines differentiating an AI, Data Analytics, risk management, etc., startup and a RegTech startup are hardly strict given the technological nature of startups offering customized solutions across industries.

RegTech Companies in Europe Driving Down Compliance Costs to Enable Innovation

United Kingdom

Abide Financial

Founded: The United Kingdom, 2011

MEDICI profile: Abide Financial (acquired by ICAP on Oct 2016) is a regulatory platform that manages transaction reporting for financial and non-financial counterparties in the UK and Europe. It also helps market participants to meet MiFID, EMIR, REMIT, and international reporting obligations.

AlgoDynamix

Founded: The United Kingdom, 2013

MEDICI profile: AlgoDynamix is a risk analytics company that detects disruptive events in global financial markets and anticipates price movements hours or days in advance of the event. Their software provides advance warning enabling asset managers to improve portfolio metrics including lower volatility and higher risk-adjusted returns. Customers include fund & wealth managers, investment banks, and trading houses.

Ancoa

Founded: The United Kingdom, 2013

MEDICI profile: Ancoa provides contextual surveillance and insightful analytics for exchanges, regulators, and buy & sell-side firms. They provide monitoring and surveillance platform that helps firms take full control of their regulatory, reputational and operational risks across markets, functions and asset classes.

Arkk Solutions

Founded: The United Kingdom, 2009

Arkk Solutions develops statutory and regulatory reporting software.

Behavox

Founded: The United Kingdom, 2014

MEDICI profile: Behavox is a software and services company providing holistic employee surveillance solutions. Behavox provides solutions for compliance officers and forensics teams that help detect cases of market abuse, fraud, collusion, sensitive and reckless behavior early and conduct investigations faster. By linking communication (phone calls, email, IB chat, etc.) and trading data, Behavox solutions allow users to discover, visualize and quantify relationships between people, organizations, transactions, and content.

Capnovum

Founded: The United Kingdom, 2014

MEDICI profile: Capnovum is a RegTech startup challenging global consulting through the use of artificial intelligence and automation. Capnovum was founded in 2014 on the belief that clients can be more cost-effectively served by an asset-based engagement model and cognitive solutions. Embracing disruptive technology to effect change, Capnovum offers cognitive compliance management and advisory services for financial institutions. Capnovum’s platform helps clients discover regulations applicable to their business model and keep up-to-date on regulatory news.

Chartwell Compliance

Founded: The United Kingdom, 2011

MEDICI profile: Chartwell Compliance offers hands-on expertise that helps organizations thrive amidst the challenges associated with staying compliant and ahead of the curve in a complex regulatory environment. They provide integrated regulatory compliance, financial crimes prevention, and enterprise risk management services which include consulting, outsourcing, testing, and training solutions.

CheckRecipient

Founded: The United Kingdom, 2013

MEDICI profile: CheckRecipient is an email security platform to reduce sensitive information leakage by preventing highly-sensitive emails from being sent to unintended recipients.

ClauseMatch

Founded: The United Kingdom, 2012

MEDICI profile: ClauseMatch Ltd. provides a cloud-based solution that provides a way for matching, negotiating, and managing trading agreements. It offers various tools for traders that provide access to the dashboard with information on the progress of negotiations, reducing the amount of information requests for negotiators. It allows users to access and check matching scores of agreements with any counterparty.

Coinfirm

Founded: The United Kingdom, 2016

MEDICI profile: Coinfirm provides a blockchain anti-money laundering (AML), combating the financing of terrorism (CFT) risk and compliance platform with applications in industries such as cryptocurrency, banking, and business intelligence. The platform aims to bring transparency and security to blockchain transactions while solving AML/CTF/Sanctions and counterparty risk management problems. Coinfirm has opened the first blockchain lab in Central Europe as the go-to hub for blockchain research, development, and collaboration in March 2016. Currently, the company’s product is in beta stage as of February 2017.

ComplyAdvantage

Founded: The United Kingdom, 2014

MEDICI profile: ComplyAdvantage is an AML risk compliance solution platform. It uses AI, machine learning, and big data to help firms manage compliance and risk of financial crime. It moves AML data collection into the next generation by providing a repository of real-time insight to help protect businesses from financial crime, and the creation of new technology tools to empower compliance.

Contego

Founded: The United Kingdom, 2011

MEDICI profile: Contego is a cloud-based identity verification platform that delivers risk scores on people and companies. It has a range of applications including compliance checks, enhanced identity verification, staff vetting, fraud screening, and due diligence. Contego aggregates data from a variety of sources, including law enforcement agencies, commercial suppliers and social networks to verify individuals and companies. It delivers an in-depth, real-time risk score, enabling businesses to reduce risk by improving fraud detection, identity verification, and regulatory compliance.

CoVi Analytics

Founded: The United Kingdom, 2015

MEDICI profile: CoVi Analytics is a SaaS-based platform that provides automated compliance services for banks and insurers. Covi’s platform allows insurers to capture their interpretation of the regulatory text, manage and evidence their compliance activities and produce appropriate reports for supervisors in one place. The company aims to simplify regulation and automating ongoing compliance activities and minimizes operational risk by eliminating replication in business processes.

Credit Benchmark

Founded: The United Kingdom, 2012

MEDICI profile: Credit Benchmark operates a contributed data model focused on gathering credit risk information from major global banks.

Darktrace

Founded: The United Kingdom, 2013

MEDICI profile: Darktrace is a provider of cybersecurity technology platform. The company addresses the challenge of detecting previously unidentified cyberthreats, irrespective of their origin by using new machine learning techniques based on the biological principles of the human immune system. It was named ‘Best Security Company of the Year 2016’ at the Info Security Global Excellence Awards and a Gartner ‘Cool Vendor’ 2015.

Datactics

Founded: United Kingdom

Datactics provides data consolidation and re-engineering software, including edit distance (fuzzy) matching, equipping the business user to access information held in multiple formats and languages.

DueDil

Founded: The United Kingdom, 2011

MEDICI profile: DueDil enables anyone to identify, compare and screen potential suppliers & clients, target potential investment opportunities, and benchmark the performance and growth of companies

Elliptic

Founded: The United Kingdom, 2013

MEDICI profile: Elliptic is the world’s first company to secure insurance for blockchain assets. It is also the world’s first company of a type to achieve accreditation from a Big Four audit firm, KPMG. The company offers real-time AML protection for Bitcoin.

Featurespace

Founded: The United Kingdom

Featurespace is the creator of the ARIC platform, a machine learning software system developed out of the University of Cambridge. The ARIC platform uses anomaly detection to analyze complex behavioral data in real time, spotting anomalies to block new fraud attacks as they occur. At the same time, Featurespace recognizes genuine customers without blocking their activity. ARIC reduces the number of genuine transactions incorrectly declined by over 70%, enabling businesses to accept more revenue.

FundApps

Founded: The United Kingdom, 2010

MEDICI profile: FundApps wraps regulatory information in a cloud-based managed compliance service for asset managers, hedge funds, and institutional investors.

Funds-Axis

Founded: The United Kingdom

Funds-Axis provides investment compliance, risk, regulatory reporting, and shareholder disclosures technology to the asset management industry.

Hellosoda

Founded: The United Kingdom, 2013

MEDICI profile: Hello Soda is an analytics platform that uses big data technology to analyze various forms of data to help lenders, insurers, gaming, and recruitment companies make more informed decisions. The company offers PROFILE software which connects to consumers’ digital footprints and analyzes thousands of data points and presents the risk scores to the clients. It uses analytics techniques for identifying life events, determining the date of pay, verifying location, age, and employment, etc.

Imandra by Aesthetic Integration

Founded: The United Kingdom, 2013

Aesthetic Integration is a financial technology startup that offers formal verification technology solutions to global financial markets. Its team includes professionals that specialize in software safety, trading system design, and risk management.

Kompli Global

Founded: The United Kingdom, 2016

MEDICI profile: Kompli Global is a compliance management platform that provides solutions for the RegTech industry. The company uses a proprietary platform to interrogate a multitude of data sources, including the deep web, and undertakes comprehensive open-source intelligence gathering to provide detailed analysis. The company offers PropensityPlus service that helps in identifying potential conflicts between information from different data sources. It also provides an end-to-end process including enhanced due diligence that enables to assess risks accurately and make confident, informed decisions in the best interests of the businesses.

KyoLAB

Founded: The United Kingdom, 2016

MEDICI profile: KyoLAB provides a mobile compliance platform that allows clients to archive and monitor mobile messaging, such as WhatsApp, WeChat, and more. It specializes in regulations technologies, including compliance archival, know-your-device, know-your-client, and compliance messaging.

Lombard Risk

Founded: The United Kingdom, 1989

MEDICI profile: Lombard Risk, a publicly listed firm, is a provider of integrated collateral management and liquidity, regulatory, transaction and MIS reporting solutions to enable firms in the financial services industry to significantly improve their approach to managing the risk in their businesses. The company provides AgileReporter, which is an end-to-end solution that automates the generation of regulatory reports from capture and consolidation of data through to computation and submission to regulatory authorities. Lombard Risk’s COLLINE provides firms with comprehensive collateral management, clearing, inventory management, and optimization solutions to support both house and client-clearing for direct and indirect clearers. It offers flexible functionality with rule builders to enable clients to manage their ongoing requirements.

Message Automation

Founded: The United Kingdom, 2003

Message Automation Ltd. is a specialist provider of post-trade control solutions.

Met Facilities

Founded: The United Kingdom, 2013

MEDICI profile: Met Facilities is part of Met Group, providing FCA regulatory hosting services for funds, FinTechs, startups, and financial services firms. The platform allows startups to leverage prime brokerage capabilities that are traditionally reserved for major institutions. It provides instant plug-in-and-play trading services & facilities and has key partnerships with leading prime brokers essential for branding to third-party investors.

NICE Actimize

Founded: The United Kingdom, 1999

MEDICI profile: Actimize was acquired by Nice Systems in July 2007. The company provides real-time and cross-channel fraud prevention, anti-money laundering, enterprise investigations, risk management and trading surveillance solutions built upon a single flexible software platform.

Onfido

Founded: The United Kingdom, 2012

MEDICI profile: Onfido provides machine learning-based digital identity verification products and services targeted at the creating trust in the sharing economy and complying with KYC/AML regulations.

OpenGamma

Founded: The United Kingdom, 2009

MEDICI profile: OpenGamma is an open-source risk architecture allowing traders to choose a CCP for an OTC derivatives transaction by understanding its margin requirements. It also manages the market risk of the trader’s portfolio.

OpusDatum

Founded: The United Kingdom, 2007

“OpusDatum helps financial institutions address the considerable reputational and commercial risk associated with the fight against financial crime. We focus on economic sanctions, anti-money laundering, anti-bribery & corruption and financial fraud. Our particular strength is making effective use of data and technology to address the enormous challenges of operating in today’s highly regulated environment. Our ability to conduct deep forensic reviews of these systems allows us to demonstrate an organization’s compliance, or to identify and close gaps in the controls environment.”

PaymentsCompliance

Founded: The United Kingdom, 2006

MEDICI profile: ComplianceOnline is a provider of regulatory intelligence for the gambling, payments, and blockchain industries. PaymentsCompliance, one of its product, provides compliance officers, data protection officers, money laundering reporting officers and legal counsels with the essential information and tools they need to tackle increasing regulatory and standards constraints while responding to customers demanding improved payment functionalities combined with strong security, convenience, and simplicity.

Percentile

Founded: The United Kingdom, 2014

MEDICI profile: Percentile Limited is a London-based provider of technology for risk management and regulatory compliance to the financial markets.

Ravelin

Founded: The United Kingdom, 2015

MEDICI profile: Ravelin Technology Limited develops a fraud prevention platform. Its platform accesses historical data to detect signals and patterns in bad transactions for online businesses and sorts through various signals to suggest rules & policies to prevent future recurrence.

Regulatory Efficiency Gains (R.E.G.)

Founded: The United Kingdom, 2013

MEDICI profile: The REG (Regulatory Efficiency Gains) system provides regulatory compliance solutions for insurance brokers, insurers, and agencies. It helps to streamline the checks, processes and data collection required for broker/agency management.

Recordsure

Founded: The United Kingdom, 2012

RecordSure is a provider of monitoring solutions that allow the user to monitor compliance in the financial sector.

RegDelta

Founded: The United Kingdom

MEDICI profile: JWG is recognized by regulators, financial institutions, and technology firms as independent analysts who help to determine how the right regulations can be implemented in the right way.

Silverfinch

Founded: The United Kingdom

MEDICI profile: Silverfinch, a part of the MoneyMate Group, was born out of an initiative with Europe’s fund management industry groups to help companies cope with an expected inundation of requests for information from insurers to meet their regulatory reporting requirements under the new Solvency II regulations; a key requirement of the rules is for insurers to identify underlying holdings in any funds they own.

Suade

Founded: The United Kingdom, 2014

MEDICI profile: Suade Labs produces technology aimed at the financial services industry to help comply with regulatory issues. The company combines practical banking experience with legal and operational expertise while leveraging on academic research to create an optimized product offering.

Sybenetix

Founded: The United Kingdom, 2009

MEDICI profile: Sybenetix is an Enterprise Behavioral Analytics company working with hedge funds, banks, and asset managers to systematically improve investment performance, risk and conduct management at the individual, team, and company-wide level.

tillr

Founded: The United Kingdom, 2015

tillr is an easy-to-use, audit and inspection software solution that saves time by reducing workload by 40%. It gets rid of the user’s reliance on paper-based processes – and saving some trees is an added benefit. tillr also reduces the need for document management systems, spreadsheets galore and other apps that do a single job. tillr is a one-stop shop for audits and inspections.

Trunomi

Founded: The United Kingdom, 2012

MEDICI profile: “Trunomi unlocks the power of customer data using consent and data rights. Trunomi provides customer consent and data rights management technology which enables businesses to request, receive and capture customer consent to the use of their personal data. For the business we create consent receipts and convert them to customer data rights accessible across all data systems. We enable businesses to comply with EU GDPR, data privacy laws and replace inefficient and costly legacy approaches. For the customer we provide control and transparency over how their personal data is used.”

VATBox

Founded: The United Kingdom, 2012

MEDICI profile: VATBox is a cloud-based platform that automates VAT recovery and enables compliance and governance. VATBox is streamlined the global VAT recovery process, providing businesses with unrivaled visibility, compliance, and data integrity. Leveraging the cloud and utilizing full automation, VATBox provides complete control of a company’s VAT spend, while making the recovery process more productive and yielding higher returns. In 2016, the company was selected for Mastercard’s accelerator program.

W2 Global Data

Founded: The United Kingdom, 2011

MEDICI profile: W2 Global Data is an online screening tool that enables organizations to achieve regulatory compliances by conducting KYC, AML and fraud prevention due diligence. The company provides an employee screening service, which verifies candidate’s application and maintains security in businesses, as well as screens prospective tenants and landlords. It offers its customers to perform real-time identity verification and anti-money laundering checks against consumers and corporates during account opening procedures.

Waymark Tech Ltd.

Founded: The United Kingdom, 2016

MEDICI profile: Wayfinder uses machine learning to accelerate the identification and analysis of regulatory requirements. Currently, the company is in stealth mode as of April 2017.

Switzerland

Apiax

Founded: Switzerland, 2016

MEDICI profile: The company’s webpage reads “Imagine the day financial institutions don’t have to worry about financial regulations anymore.” but there is no other information.

DeltaconX

Founded: Switzerland

Dydon

Founded: Switzerland, 2016

MEDICI profile: Dydon provides AI and machine learning-based compliance & risk management solutions for the banking and insurance industry. It uses internal and external data points to identify the weak links, and to assess the company’s exposure, thus helping it take corrective measures.

KYC Exchange

Founded: Switzerland, 2012

KYC Exchange Net AG is a Swiss company with the primary purpose to develop and maintain KYC Exchange Net AG’s platform KEN and to provide the financial industry with a secure communication platform for KYC/CDD purposes. Its objective is to allow for the cost-effective exchange of Know Your Customer (KYC) and Customer Due Diligence (CDD) data between regulated financial institutions (e.g. banks, insurances) and their clients. KYC Exchange Net AG was founded in June 2013 and is incorporated in Zurich, Switzerland.

NetGuardians SA

Founded: Switzerland, 2007

MEDICI profile: NetGuardians provides fraud and risk assurance software solutions to fight fraud and facilitate regulatory compliance. They leverage Big Data to correlate transactional data and human behavior across channels and bank application layers. NetGuardians was the first company to emerge from the innovation incubator Y-Parc, in Yverdon-les-Bains, Switzerland. It was named a Gartner “Cool Vendor” in 2015.

Qumram

Founded: Switzerland, 2011

MEDICI profile: Qumram provides a fully-compliant and transparent digital audit trail of all online, mobile, and social interactions. It enables financial services organizations to retain digital records, securely and reliably, in a fully accessible form, in accordance with global regulatory requirements: SEC, FTC, FINRA, ESMA, MIFID-II, FFSA, and more. Qumram also facilitates fraud detection, call center inquiry handling, and customer behavior analytics. Qumram was one of the five winning firms of The Swisscom Startup Challenge 2016.

Belgium

Collibra

Founded: Belgium, 2008

MEDICI profile: Collibra is a data governance platform to support mobile interactions for data stewards, managers, and users. Collibra helps companies understand, govern and leverage their data. It helps IT organizations to reduce complexity, risk, and costs. Collibra automates data governance and management processes by providing business-focused applications where collaboration and ease-of-use come first. The data governance platform embraces the new requirements of big data solutions, with automation, machine learning, and the flexibility to govern data assets from source to visualization.

Germany

4Stop

Founded: Germany, 2012

4Stop is an enterprise-level solution for KYC, compliance, and anti-fraud. It allows businesses to make decisions to manage regulatory risk while providing users with tools to make proactive decisions and action change that will accelerate their business performance. It monitors fraud patterns and adjusts interaction and transaction metrics for fraud prevention based on desired risk thresholds. It also provides e-commerce businesses real-time access to an advanced network of verification and technology tools for optimal protection.

Alyne

Founded: Germany, 2015

MEDICI profile: Alyne is a Munich-based B2B RegTech offering organizations cybersecurity, risk management, and compliance capabilities through a Software-as-a-Service. Its unique proposition is built on a combination of providing a curated content library crafted by industry experts and highly usable functionality at an extremely competitive price. The four founders have worked together for 10 years in the specific area of Alyne’s offering in consulting and industry positions. They share a passion for smart technology solutions and excellent design. Alyne entered a rapidly growing market in March 2016 after a nine-month development phase. The service competes with established GRC software vendors with antiquated and expensive solutions as well as consulting services with skilled, yet costly resources.

“Through a combination of structured enterprise sales, digital marketing, and white labeling, we aim to grow revenue to 14m EUR by 2020. The company is self-funded and owned by the founders. We are looking for a B2B-focused partner with strong relationships to industry and later stage investors alike to accelerate our growth.”

DerivativesTech

Founded: Germany

“DerivativesTech is a software company based in Frankfurt am Main. We focus on PRIIP-KID process automation for banks, insurance companies, and stock exchanges.”

riskMethods

Founded: Germany, 2013

MEDICI profile: riskMethods offers a SaaS, cloud-based supply chain risk management solution to SMEs and large businesses in all industries.

Ireland

Accudelta

Founded: Ireland

Accudelta is a platform for the management of data required to support distribution and client-driven regulatory reporting.

AQMetrics

Founded: Ireland, 2012

MEDICI profile: AQMetrics offers integrated regulatory risk and compliance management solutions.

Corlytics

Founded: Ireland, 2013

MEDICI profile: Corlytics is a SaaS-based platform that provides a compliance risk analysis services for financial institutions. The platform enables banks to minimize regulatory breaches by using predictive risk analytics applications to evaluate, benchmark, and manage market risk.

Fenergo

Founded: Ireland, 2009

MEDICI profile: Fenergo provides counterparty data management, compliance & client onboarding lifecycle management software for capital market and investment banks.

Funds Reconciliation Software

Founded: Ireland, 2013

Fund Recs was founded in 2013 when the company founders were approached by a large bank to develop a new reconciliation platform for its Fund Administration unit. The company is building a platform to transform how data is managed, processed and leveraged by the Funds Industry.

GECKO Governance

Founded: Ireland, 2015

GECKO Governance is a new RegTech blockchain solution that easily allows fund managers to monitor & manage their regulation and compliance requirements.

Know Your Customer

Founded: Ireland, 2015

Know Your Customer’s mobile app simplifies and accelerates identity verification for individuals and corporate customers.

MoneyMate Group

Founded: Ireland, 1991

“The MoneyMate Group provides regulatory data management and data exchange services to asset management firms and institutional investors facing increasing regulatory reporting requirements. Combined with our partners, we provide our customers with one strategic end-to-end response to global regulation. We are continually adding to the regulations that we support, and currently deliver full-service solutions for the following: GroMiKV, MiFID II, Form N-MFP, Form N-PORT, PRIIPs, Solvency II, and VAG.”

Funds Reconciliation Software develops cloud-based reconciliation software for the funds industry, replacing prehistoric enterprise software with SaaS.

RiskSystem

Founded: Ireland, 2013

RiskSystem is a cloud-based financial risk system that provides the management of investment entities with comprehensive risk intelligence.

Sysnet Global Solutions

Founded: Ireland, 1989

MEDICI profile: Sysnet Global Solutions is a provider of information security assurance and compliance validation services.

Tradeflow

Founded: Ireland, 2014

MEDICI profile: TradeFlow is a trade data tracking and risk alert-based technology.

Trustev

Founded: Ireland, 2015

MEDICI profile: Trustev was acquired by TransUnion on December 10, 2015. It provides online fraud prevention solutions that scan transactions in real-time for determining whether they are real or not.

VigiTrust

Founded: Ireland, 2003

VigiTrust is a security assessment and security learning solution enterprise that develops eSEC, its flagship e-learning solution.

Vizor

Founded: Ireland, 2000

MEDICI profile: Vizor provides software that enables the supervision of companies by a supervisory authority (central bank, financial regulator or tax authority). Vizor software offers web-based data submission, real-time validation, single supervision center, and customization. It has modules like warning systems, risk profiling, regular reporting, market statistics, licensing, fee & penalty, etc. Vizor Software was named Technology Provider of the Year by Supervision at Central Banking Awards 2017.

France

Fortia Financial Solutions

Founded: France, 2012

MEDICI profile: Fortia Financial Solutions is a RegTech company. It provides financial solutions such as compliance management, internal control, and risk control platform for financial services firms, investment managers, banks and insurances companies. The company offers disruptive technologies to the field of regulatory practices based on artificial intelligence, machine learning, and collaborative intelligence.

Scaled Risk

Founded: France, 2014

MEDICI profile: Scaled Risk develops, markets, and supports a wide range of software to financial institutions. These next-generation solutions based on big data technologies cover all cases of application of risk management and front offices, position calculation, trade analytics and real-time fraud detection.

INVOXIS

Founded: France, 2013

INVOXIS provides software solutions in order to help decision-makers to use efficiently information from different sources. Its unique technology offers a Search & Extraction Builder with APIs and an investigation platform, which collects strategic information to help banks in their KYC, client onboarding, AML, due diligence investigation & sectorial analysis processes.

Luxembourg

Fundsquare

Founded: Luxembourg, 2013

A subsidiary of the Luxembourg Stock Exchange and operating as a fund market utility, Fundsquare offers a flexible and responsive infrastructure to enable operational effectiveness across the entire distribution chain. The company’s Regulatory Services include:

  • CRS and FATCA solution
  • Fund Registration and Notification
  • Regulatory reporting
  • Reporting for insurers

Governance.io

Founded: Luxembourg

An investment fund GRC platform to deal with complex data and regulatory oversight duties.

KYC3

Founded: Luxembourg, 2014

MEDICI profile: KYC3.com delivers reporting and research solutions for professionals looking to mitigate risk through the use of data mining and analysis of unstructured big data. KYC3 offers inexpensive subscription access to a full featured KYC screening and research facility offering unlimited KYC/AML screening audit reports and access to all research data, updated continually in real time.

REGIS-TR

Founded: Luxembourg, 2010

REGIS-TR is a central trade repository for reporting trades and transactions across multiple product classes and jurisdictions.

Scorechain

Founded: Luxembourg, 2015

MEDICI profile: Scorechain aims to address compliance, regulation and management issues in the Bitcoin ecosystem by running thorough analysis and of the Blockchain.

Snapswap

Founded: Luxembourg, 2012

MEDICI profile: SnapSwap International S.A is a technology platform that develops financial products for onboarding and cross-border payment solutions. The company provides automated and end-to-end payments solutions for onboarding customers from the remote locations. It also offers messenger channels that enable customers to send and receive money to their friends and family members, perform cross-border transactions, split payments and collect funds for group events. SnapSwap is the first company to receive a bitLicense in Europe, allowing it to offer digital payments, remittances, and currency exchange services in the European Union. The bitLicense allows SnapSwap to utilize cryptographic technologies, cryptocurrencies, and Internet protocols, such as blockchain and open ledger consensus. Recently, the company was selected for the SibsPayForward incubator program in April 2017 and won a prize at the BBVA Open Talent Identity competition in May 2017.

Netherlands

BWise

Founded: Netherlands, 1994

MEDICI profile: BWise was acquired by NASDAQ OMX on May 3, 2012. It offers GRC software solutions for risk management, internal audit, and compliance. BWise helps customers to increase corporate accountability; strengthen financial, strategic and operational efficiencies; and maximize performance while understanding risks.

Open Risk

Founded: Netherlands, 2014

Open Risk is a newly established independent provider of training and risk analysis tools to the broader financial services community.

OSIS

Founded: Netherlands, 2010

MEDICI profile: OSIS offers an alternative way for banks and investors to analyze credit risk by coherently combining a statistical analysis of data with subjective opinions about forward-looking risk distributions. Such analysis captures parameter uncertainty and allows for designing more coherent stress-testing scenarios.

Portugal

Feedzai*

Founded: Portugal, 2009

MEDICI profile: Feedzai is a data science company providing fraud prevention solutions for the commerce industry. Feedzai’s fraud prevention technology fuses big data and machine learning with human intelligence to predict and detect fraud within payment transactions globally.

*This company has headquarters in the United States but was founded in Portugal

Denmark

muinmos ApS

Founded: Denmark, 2012

“muinmos fully automates all the necessary regulatory compliance checks for financial institutions; within seconds financial institutions will realize – with complete confidence – that their client base is global. No more templates, no more checklists, no more costly legal opinions; with muinmos PASS, a financial institution needs to look no further. Financial institutions no longer need to spend valuable time navigating local regulatory environments; muinmos PASS does the work for it, allowing it to do what it is best at doing – acquiring new clients and carrying out its business model. We allow financial institutions to comply with global regulations, which in turn will help revive activity within global capital markets.”

NewBanking

Founded: Denmark, 2015

NewBanking – the FIRST in the world to provide KYC & AML verified money.

Sweden

Trapets

Founded: Sweden, 2000

Trapets provides cutting-edge services and systems to the global finance industry for the monitoring of transactions.

Algorithmica Risk Management System (A.R.M.S.)

Founded: Sweden, 2001

“We founded Algorithmica Research in 1994 with the mission of creating innovative software for quantitative financial analysis and haven’t looked back since.”


Please note that mentioned companies do not represent an exhaustive list. If you would like to suggest a company that we have missed or found a mistake in any of the descriptions, please contact us at follow@letstalkpayments.com.

Stay Fresh on FinTech. Get our Daily Insights.