Selleo Labs spółka z o.o.

My diverse educational background allows me to approach software development problems from different sides and angles. I have bachelor degrees in Sociology and IT in Business. I am an agile Team Leader and Project Manager. Sport and Combat training allowed me to learn that success comes with hard work. Along came the self-improvement, loyalty, discipline and self-control.

**ABOUT MY TEAM** “...there is no **I** in **Team**”

My Team has an in-depth and long term experience (**4 years** on average) and currently consists of **9 members**. We specialize in **Ruby on Rails**, **React.js**, **React Native** and **Node.js**. We work from **one** **office** which guarantees close and **successful** **cooperation**. We use the following communication tools: Slack, Pivotal Tracker, Trello, Jira and Google Hangouts.

***"With few exceptions the best players are the hardest workers"***

I love coding and I **enjoy** **solving** **various** **business** **problems** with my programming skills.

I'm a passionate COO dedicated to helping my clients craft state-of-the-art software solutions. With over 15 years in the industry, I've evolved from coder to tech leader, gaining hands-on experience in building various platforms and leading teams of many developers. This journey has empowered me to mentor emerging leaders and share insights on team-building, successful project management, and outsourcing. In the dynamic realm of tech, I'm committed to shaping the future and inspiring others to push boundaries alongside me.

Ireneusz Skrobiś

The RegTech market is expected to grow from [$6.3 billion in 2020 to $16 billion by 2025](https://www.marketsandmarkets.com/Market-Reports/regtech-market-63447434.html?gclid=Cj0KCQjwo-aCBhC-ARIsAAkNQiu1aivuqgtmzEbvtaZnk1NBwrPujspPHWUgirhremxrYPPvDszyD2waAhx2EALw_wcB) at a Compound Annual Growth Rate (CAGR) of 20.3%. Some of the main drivers behind that growth include increased costs of compliance, lower entry barriers with SaaS-based offerings, a rising need for faster transactions and a regulatory sandbox approach to support RegTech innovations.

![Img](https://a.storyblok.com/f/86602/720x283/0e04067777/opportunities-in-regtech-market.png)

The use of Machine Learning, Artificial Intelligence and blockchain all provide growth opportunities for the RegTech market. What is more, the emergence of RegTech into the non-finance sector offers additional revenue streams for vendors in the market.

\[TOC\]

In this article, we will dive into the world of RegTech solution to discover how to build a software solution that meets compliance and regulatory requirements. Let’s begin!

## What is regulatory compliance and why is it important?

Regulations are the rules that are enforced usually by governmental agencies. They are crucial as they set rules and standards for what can and cannot be done in businesses. One of the most recently introduced policies that is frequently mentioned also in the terms of software development is GDPR in Europe (enforced in 2018) protecting individuals’ personal information. If you wish to get more information about how to make your software GDPR compliant, read the post [How To Meet GDPR Requirements In Mobile And Web Applications](https://selleo.com/blog/how-to-meet-gdpr-requirements-in-mobile-and-web-applications).

The degree of compliance is up to each business to decide based on their risk management practices. Not complying with those regulations can result in high fines and a potential loss of reputation, so the first thing to do when starting any kind of business is to get to know the laws and regulations applicable to your situation as some of them apply to all industries while others are industry-specific. A great example of an industry-specific regulation is HIPAA (Health Insurance Portability And Accountability Act), which is applicable to eHealth software. More about it in the article [How To Make Your Custom Software HIPAA compliant](https://selleo.com/blog/how-to-make-your-custom-software-hipaa-compliant). There are also [Know Your Customer](https://en.wikipedia.org/wiki/Know_your_customer) (KYC) and [Anti Money Laundering](https://www.investopedia.com/terms/a/aml.asp) (AML) regulations strongly connected to the financial sector.

![Img](https://a.storyblok.com/f/86602/720x367/4e6a6a009a/gdpr-hipaa-kyc-aml.jpg)

The main problem with regulation is that there are hundreds of them and new ones appear rather frequently. The best solution is to hire legal staff and create a compliance department that will handle all that, however, not every company can afford it. And this is where Regulatory Technology (RegTech) comes in.

## What is RegTech?

RegTech is the management of regulatory processes through technology usually within the financial industry. Its main features include regulatory monitoring, reporting and compliance. RegTech consists of a group of companies that use cloud computing technologies through SaaS to help businesses comply with regulations. It is known as regulatory technology.

![Img](https://a.storyblok.com/f/86602/720x439/351ab63e9d/what-is-regtech.jpg)

RegTech was born after the 2008 financial crisis that ushered an increase in financial sector regulation (visit our blog to discover [Top 25 RegTech companies in the EU](https://selleo.com/blog/top-25-regtech-companies-in-european-union-in-2022)). It is a subset of [FinTech](https://selleo.com/blog/what-is-fintech-examples-of-types-features-and-products) - a group of new technologies designed to enhance and automate the use and delivery of financial services. It stands for a community of companies solving challenges of a technology-driven economy as a result of increased data breaches, cyber hacks and other fraudulent activities. Those companies make use of machine learning and big data technologies to reduce risks and aid in ensuring compliance.

<Baner name={fintech-team} />

### 5 categories of RegTech

After analyzing around 333 RegTech companies, [Deloitte](https://www2.deloitte.com/lu/en/pages/technology/articles/regtech-companies-compliance.html) managed to identify 5 main categories of Regulatory Technology, which are as follows:

![Img](https://a.storyblok.com/f/86602/720x367/d6d0df895f/5-regtech-categories.jpg)

#### Compliance

Since the regulations world is very dynamic it can be difficult, or nearly impossible, to keep up with all the changes and newest rules. That is why machine learning and AI help to ensure compliance by automating processing like:

- searching for new or changed regulations
- reporting
- data analysis
- sharing the impact of changes

AI algorithms monitor and track the current state of compliance and regulations in real time, eg. [6clicks](https://www.6clicks.io/).

#### Identity management and control

The identity management and control include the Know Your Customer (KYC) processes that are usually performed manually. However, RegTech solutions by making use of AI and machine learning can help gather the necessary information from multiple sources and help to analyse them, eg. [Accuity](https://accuity.com/)

#### Risk management

There are also RegTech solutions that can monitor risk by identifying situations based on delivered data. In the financial sector, they can be used to predict market changes and mitigate risks. It allows detecting compliance and regulatory risks, assessing risk exposure and anticipating future threats, eg. [360factors](https://www.360factors.com/)

#### Regulatory reporting

The right software can aid in the reporting process by automating it without the need of involving employees. As a result, we get correct data on time, limiting possible human errors. The regulatory reporting processes that can be optimized by using AI are:

- regulatory change management
- data validation
- data processing and preparation
- categorization and classification
- analytical calculations

Enabling automated data distribution and regulatory reporting through big data analytics, real time reporting and cloud can bring significant time and cost savings, eg. [acarda GmbH](https://acarda.de/)

#### Transaction monitoring

A process of monitoring transactions that go through banks, online shops or other financial institutions in real time. This helps to identify potentially suspicious activities and flag illegal ones. Robotic Process Automation can help to analyze and monitor transactions faster and more accurately than any separate department by leveraging the benefits of distributed ledged through Blockchain technology and cryptocurrency, eg. [Analyze N Control](http://www.analyzencontrol.in/)

<ReadMore> Read also: [Top 25 RegTech Companies In European Union](https://selleo.com/blog/top-25-regtech-companies-in-european-union-in-2022) </ReadMore>

### The RegTech process

![Img](https://a.storyblok.com/f/86602/720x367/33b4c3fa38/the-regtech-process.jpg)

Generally speaking, all RegTech processes can be divided into four main parts:

#### Signing up customers

The first must-have of any business or process is customers. Process automation requires understanding the customers’ needs and the compliance requirements that apply to your customers. The signing up process, therefore, involves validating and verifying customer information eg. proper verification of customer’s assets and finances will help you detect any frauds or threats.

#### Monitoring

Monitoring is a process of continuously watching all customer activities. Once they sign up, you get access to their transactions that can be monitored by the software. RegTech uses cloud computing and big data to manage that data flow.

#### Detection

The next step is where machine learning comes in handy. While monitoring transactions and activities it is crucial to look for recurring patterns or flags. Once you have extensive knowledge of types of frauds and their mechanisms, you will be able to write detection logic and use machine learning to discover those patterns and detect them.

#### Reporting

When regulations are not being followed this is where reporting intervene. Once you have enough information about the detected suspicious activity and you can prove a breach you have to report it to the regulatory authorities. No compromises here - this proves the integrity of your services.

<ReadMore> Read also: [What Is Fintech? Examples Of Types, Features And Products](https://selleo.com/blog/what-is-fintech-examples-of-types-features-and-products) </ReadMore>

## How to build a custom RegTech solution?

RegTech solutions are valuable because they standardize regulatory processes while providing clear interpretations and automating compliance processes. There are some key features that turn valuable software into a great one.

- **speed** - the ability to configure and generate reports quickly is a crucial benefit of any automation software. RegTech accelerates the regulatory compliance process as almost any task can be taken care of by software significantly reducing risks.
- **agility** - technologies you use should allow extracting, transferring and loading complex data and turn them into ready-to-use information. Thanks to using cloud computing and machine learning RegTech solutions understand the process and quickly adapt to changing regulations.
- **analytics** - advanced analytical tools can have a great impact on the company’s strategic decisions. Those tools help RegTech represent information in an easy to understand way and filter the data.
- **integrations** - easy customization and integration with various 3rd party tools make a product suitable for various institutions. The RegTech processes use a different combination of technologies for different steps eg. cloud computing for monitoring, machine learning for the detection phase. Some RegTech solutions can also be integrated into the already existing company’s software.

Since regulatory technologies are a specific domain they imply a strong knowledge of FinTech and law. This requires an experienced team of developers that had previous exposure to this field.

![Img](https://a.storyblok.com/f/86602/720x417/6fdbf8a9aa/how-to-build-a-custom-regtech-solution.jpg)

Generally speaking, the process can be narrowed down to 6 steps:

1. **Research** - define the scope of your MVP and the features your software should have. Research the solutions available on the market as well as your target clients.
2. **Build a team** - form an in-house or outsourced team of developers that will help bring your idea to life. It is crucial that they have some experience in the FinTech/RegTech field.
3. **Choose a technology stack** - there are obviously many programming languages to choose from. Not to mention those responsible for mobile application development. Your team will definitely help you make the right decision, so do not hesitate to consult them.
4. **Design UX/UI** - the most important thing is to not load your application with loads of unnecessary features. Consider adding some vibrant colours and intuitive navigation.
5. **Test** - test your solution on a chosen number of customers to gather feedback and ensure if everything works as it should.
6. **Monitor and update** - since regulations are constantly changing and new ones continuously appear you have to ensure your software stays updated and relevant.

<Baner name={software-development} />

## How we developed compliance and regulatory software?

At Selleo, we have years of experience in building various types of software, including RegTech solutions. Let’s take a quick look at the two of them.

### Alyne - Compliance Management Cloud Software

A SaaS platform for making risk-aware decisions focused on digital assets. The solution aids organisations in all industries in maturing cybersecurity, risk management, compliance capabilities while helping to cost-effectively measure maturity. As a result of the collaboration with the client, our [Ember team](https://selleo.com/ember-development-company) created a digital dashboard that helps companies know their compliance requirements and perform risk analytics.

The digital dashboard with intuitive navigation and fast searching supports businesses in implementing legal and regulatory requirements and aligning with industry standards.

![Img](https://a.storyblok.com/f/86602/766x612/c01683131c/alyne.png)

If you want to find out more about the project, go to our [portfolio page](https://selleo.com/portfolio/compliance-management-software).

### ECIT Labs- [Compliance Management](https://selleo.com/portfolio/regulatory-compliance-management-software) Application

An app designed to aid in the process of verification of business entities. It helps to streamline the KYC processes and has the ability to perform AML searches. Our React team managed to build an application that enhances performance and provides more reliability with regulation compliance. It offers bank-level security of user identification to provide confirmed information about organizations and people. [ECIT](https://www.ecit.com/) delivers an efficient customer experience and increases the overall quality in the accounting service delivery field. More information about the project [here](https://selleo.com/portfolio/regulatory-compliance-management-software).

![Img](https://a.storyblok.com/f/86602/298x559/9c6da87e96/ecit-portfolio.png)

## Conclusions

There are some ground rules that every company has to follow - no matter the size in order to maintain order. RegTech solutions help those companies to continually meet those compliance and regulatory requirements while saving time and money. RegTech uses SaaS technologies, cloud computing, big data and artificial intelligence to manage regulatory compliance and automates the crucial processes. It also helps organizations reduce threats like cyberattacks, security breaches or money laundering.

So if you are looking for a team of developers with vast experience in creating RegTech solutions that will help you ensure your company meets all the compliance and regulatory requirements, contact Selleo to schedule a call.

In this article, we will dive into the world of RegTech solution to discover how to build a software solution that meets compliance and regulatory requirements. Let’s begin!

RegTech Solutions In A Nutshell

\[TOC\]

## What is RegTech?

After the financial crisis of 2008, the situation of the financial institutions in Europe was miserable. The so called bubble had busted, making everything go down with high-interest rates, inflation, and no regulations to keep the condition at a constant pace. To control the situation, various banking rules, anti-money laundering policies, financial directives, and terrorist financial reglementations were implemented both on the national and regional levels. This has increased the regulatory pressure on companies to follow these policies. Only in the three year period between 2009 and 2012, over 50,000 regulations were implemented across G20.

The financial crisis gave birth to a revolutionary IT dynamic, which later came to existence as RegTech Solutions. **RegTech solutions offer the support to financial institutes (FIs) to compliances, gaining support from regulators and investors.**

Before these solutions were designed, the process of creating regulations and implementing them was a hassle and costly. According to Regtech Council (1), it took 30,000 pages and around 1.5 million paragraphs to describe the rules in MiFID II. The entire process costs around €2.5bn to implement the new regulations. Having such a costly and hassle-filled process led to the need to create an automated financial solution.

Realizing the need, a wave of startups has emerged, offering the technological solution to companies that efficiently and cost-effectively manage the overload of compliance. These new startups or “RegTech” companies are a mostly young organization that offers SaaS cloud-based solutions to bring agility, speed, integration, and analytics to meet regulatory expectations and manage risks.

As per the report from[ Juniper Research](https://www.juniperresearch.com/home) the total spending on Regtech industry will grow by an average of 48% per annum. Over the next five years, the investment will rise from $10.6 billion in 2017 to $76.3 billion in 2022.

Let’s have a detailed introduction to RegTech and see what this technology is all about.

## What are RegTech Solutions?

RegTech is a **Regulatory Technology designed to improve the way businesses manage regulatory compliance**. It consists of a group of companies using cloud computing technology through SaaS to help businesses comply with regulations efficiently and less expensively. The main functions of RegTech are to perform regulatory monitoring, reporting, and compliance.

### Why are RegTech Solutions Important?

By combining the **ultra-advanced technology of machine-learning technology**, RegTech reduces the risk to a company’s compliance department by offering data on money laundering activities conducted online. All the activities that a traditional compliance team may not be privy to due to the increase of underground marketplaces online.

It helps the companies to lift some burden from their Risk and Compliance teams as the regulatory landscape is moving at a superhuman pace. Do you know that in Europe, a new regulation is passed every 7 minutes? The change in regulation has reached almost 500% in the last decade.

When RegTech was introduced in the financial sector, it was welcomed with a healthy dose of skepticism. The basic concern of investors at that time was the margin of error. Knowing that the world of regulatory compliance is vast and complex, and the chances of error are massive.

![Img](https://a.storyblok.com/f/86602/720x422/836f60566d/what-services-regtech-solutions-offer-to-companies.jpg)

## What Services RegTech Solutions Offer to Companies?

It has only been a few years since the industry has emerged. **The growth and popularity of RegTech solutions are exponentially growing every day**. New features are being introduced with every passing day to improve regulatory compliance.

Here we are listing some of the very basic functions a RegTech solution offers to FIs.

* Data management solutions
* KYC (Know Your Customer) and AML (Anti-Money Laundering) solutions
* Tax management solutions
* Risk management solutions
* Records management solutions
* Trade monitoring solutions
* Reporting solutions
* Portfolio risk management solutions
* Quantitative analysis solutions
* Solutions that help companies manage a specific regulation (like [GDPR](https://www.ascentregtech.com/blog/the-rise-of-data-privacy-regulation-and-how-regtech-can-help/))
* Regulatory change management solutions

## Why Does RegTech Solution Matters for FIs?

Every business in any region of the world has the freedom to generate real value and profits, but only if meeting the law and regulations. Many times, protecting the consumers, businesses overpass the regulations.

Thousands of new regulations and compliance police have been passed and amended in the last decade. Keeping up with these regulations and policies seems an inhuman task. **With RegTech, it becomes a lot easier for businesses to comply, unlocking both opportunity and wealth without compromising on consumer interests.**

Just imagine the criticality of compliances, if not meet within the limitation set by authorities. Many banks have paid millions as a penalty for not meeting the regulations in Europe. In the world of regulations, laws are written on computers but followed by post-it notes and excel sheets. This juxtaposition is unsustainable.

Hiring, training, and maintaining a department costs millions every month to FIs. But with RegTech, the cost has reduced to only a few thousand, making it a better world for everyone.

**Do you want to create your own RegTech solution? Our [experienced team](https://selleo.com/software-development-team/fintech) will be happy to help you!**

## How RegTech can help Financial Services

Let’s discuss the functionality of RegTech and how it benefits an FIs in detail.

### Keeping Financial Services Regulators Happy

The EU is trying really hard to keep a balance in their Financial Sector for which they need to create and implement regulations and compliance policies. In this regard, many countries included in the EU have amended their laws and regulation and keep doing so.

As mentioned earlier, every 7 minutes, a new regulation is passed in Europe, making it inhumane to keep up with the pace. If a business is operating internationally and outside Europe, having knowledge of each regulation is essential. **A RegTech solution makes it very easy for businesses to keep themselves updated regarding changing regulations and compliance policies.** And, when businesses are following compliance policies, it makes the financial service regulators happy.

### Lowering Costs for Financial Services

![Img](https://a.storyblok.com/f/86602/720x422/d5d799eb42/lowering-costs.jpg)

The cost of complying with complex and rapidly-changing regulations across multiple jurisdictions effectively amounts to an 8% tax on every firm doing business in the financial space.

The situation is even worse for Global Banks as they need to compete in a tough global marketplace where their regulatory responsibilities increased exponentially. On average, a large financial institute spends around $10,000 per employee to manage legal and regulatory risk. And, when it comes to managing complex challenges of MRAs and MOUs can even cost major banks upwards of $1 million apiece. Clearly, it is too expensive to keep doing business in this way.

With a RegTech, the cost reduces to a great extent making it a lot easier to keep your business in accordance with regulations and compliance policies.

The major component of a RegTech is SaaS, cloud computing, Big Data, and most advanced technology of Biometric. Combining machine-learning and the use of advanced technology makes it easier for FIs to implement Artificial Intelligence in their operation, and the biggest example of it is RegTech.

### RegTech Allows to Identify Users by Biometrics

Biometric is the most advanced technology to identify a person on his/her own individuality. Biometric offers a more user-friendly and secure option for authentication. Thanks to RegTech, now banks can verify consumers using Biometric technology. The integration of Biometric technology has reduced the risk of money-laundering and frauds to a great extent.

## What are Some Areas of Application for RegTech?

Let’s get to know the important areas of application for RegTech.

* **Big Data**

RegTech companies are running the application based on Big Data to analyze consumer identification. It is one of the main components of RegTech solutions.

![Img](https://a.storyblok.com/f/86602/720x422/2e74fc4cab/cybersecurity.jpg)

* **Cybersecurity**

Data breaches and online fraud are most common since technology has evolved and took over the financial sector. RegTech using advanced technology helps prevent these breaches by using strong encryption and end-to-end anonymity over the system.

* **Macroprudential Policy**

Like all other regulations, RegTech helps FIs to strictly follow Macroprudential Policies. These policies are created to ensure the stability of the financial system as a whole. It prevents the system from substantial disruptions in credit and other financial services.

* **Identity Management**

Having knowledge of the customer and specific regulations to prevent money laundering and the financing of terrorism is very important. Using Artificial Intelligence or Business Intelligence (BI) technology helps RegTech companies to improve the overall identity management of the system.

* **Risk Management**

RegTech helps FIs by automatic identification and management of risk sources by analyzing the patterns and management of large volumes of information. It controls the overall risk involved in these activities.

* **Compliance**

RegTech manages the overall compliance of a company by conducting automatic monitoring of the company’s compliance with policies and procedures. It keeps the compliance intact with different applicable laws and regulations, from customer protection procedures to tax and commercial aspects.

* **Regulatory Update**

The biggest functional area of RegTech is the identification and interpretation of regulatory changes and analysis of their impact on the company.

* **Analysis and Reporting**

It performs advanced analysis of large volumes of data using an automatic generation of communications to different authorities.

<Baner name={software-development} />

## Top 25 RegTech Companies in Europe

We have created a list of top 25 European RegTech companies and some of their basic details. Let’s have a look:

### Alyne

![Img](https://a.storyblok.com/f/86602/347x261/a0ac20d402/alyne_logo.png)

Location: Germany Domain: Cybersecurity, Risk management

Website: [www.alyne.com/en](http://www.alyne.com/en/product/features)

Speciality:

* Offers extensive control set templates
* Delivers mapped Laws and regulations

### Blinking

![](https://s3.amazonaws.com/a.storyblok.com/f/86602/400x82/6ce948d0bd/blinking_logo.png)

Location: Serbia

Domain: Onboarding process, tools and controls

Website: [https://blinking.id](https://blinking.id/product.html)

Speciality:

* Offers digital identification of users
* Delivers digital onboarding process
* Offers Blockchain based document management system

### CleverSoft

![Img](https://a.storyblok.com/f/86602/392x88/316f0b0354/cleversoft_logo.png)

Location: Benelux & Germany

Domain: Onboarding process, reporting systems

Websie: [www.clever-soft.com](http://www.clever-soft.com)

Speciality:

* Offers optimizing regulation documents, marketing materials
* Optimizes commission payments

### ComplyAdvantage

![Img](https://a.storyblok.com/f/86602/401x137/9c00e8595f/comply-advantage_logo.png)

Location: Romania

Domain: Cybersecurity

Website: [https://complyadvantage.com](https://complyadvantage.com/aml-compliance-solutions/)

Speciality:

* Offers compliance solutions
* Delivers transaction monitoring
* Offers payment screening

### Corlytics

![Img](https://a.storyblok.com/f/86602/206x57/0ab55ea7df/corlytics_logo.png)

Location: UK & Ireland

Domain: Risk management, Compliance management

Website: [www.corlytics.com](http://www.corlytics.com)

Speciality:

* Offers Taxonomy mapping
* Offers Advisory services
* Offers Risk management solutions that allows to plan investments

### CyNation

![Img](https://a.storyblok.com/f/86602/400x97/61850d1f7e/cynation_logo.png)

Location: UK & Netherlands

Domain: Cybersecurity, Risk management

Website: [www.cynation.com](http://www.cynation.com)

Speciality:

* Offers analytics powered by AI and machine learning
* Offers automated vulnerability and assessment solutions

### DataGuard

![Img](https://a.storyblok.com/f/86602/400x152/71c787a075/dataguard-logo.png)

Location: Germany

Domain: CyberSecurity

Website: [https://www.dataguard.com](https://www.dataguard.com/#services)

Speciality:

* Supports with GDPR in companies
* It offers solutions to many businesses

### Dathena

![Img](https://a.storyblok.com/f/86602/400x109/b11f4a0ff4/dathena_logo.png)

Location: Switzerland & France

Domain: Cyber security, Information risk

Website: [www.dathena.io](http://www.dathena.io)

Speciality:

* Offers Data classification solutions
* Offers Cloud access security
* Delivers data access monitoring

### ElectronicId

![Img](https://a.storyblok.com/f/86602/400x400/4ea999c5f4/electronicid_logo.png)

Location: Spain

Domain: Onboarding process

Website: [www.electronicid.eu](http://www.electronicid.eu)

Speciality:

* Delivers video verification
* Delivers Face verification
* Delivers Signature solution

### FacePhi

![Img](https://a.storyblok.com/f/86602/151x151/0d9b5c3c98/facephi_logo.png)

Location: Spain

Domain: Facial Recognition, Mobile biometrics

Website: [https://www.facephi.com](https://www.facephi.com/en/content/products/)

Speciality:

* Delivers VoicePrint solutions
* Delivers eye biometrics solution
* Deliver facial recognition solutions

### Fenergo

![Img](https://a.storyblok.com/f/86602/400x312/0362dfad66/fenergo_logo.png)

Location: Ireland

Domain: Risk Management, Onboarding Verification

Website: [https://www.fenergo.com/](https://www.fenergo.com/)

Speciality:

* Client risk rating
* Anti-money laundering
* Automated client orchestration

### 4STOP

![](https://s3.amazonaws.com/a.storyblok.com/f/86602/150x80/77858083e5/4stop_logo.png)

Location: Germany

Domain: Onboarding Verification , CyberSecurity

Website: [https://4stop.com/](https://4stop.com/)

Speciality:

* Delivers Document verification
* KYC services
* Anti-fraud systems

### Governance

![Img](https://a.storyblok.com/f/86602/400x64/c08ca63f08/governange-logo.png)

Location: Luxembourg & Netherlands

Domain: Onboarding, Monitoring, Reporting

Website: [https://www.governance.com](https://www.governance.com/solutions)

Speciality:

* Procedures management solutions
* Business continuity management solutions
* Fund management solutions

### Hawk:AI

![](https://s3.amazonaws.com/a.storyblok.com/f/86602/400x243/e973cad569/hawkai_logo.png)

Location: Germany

Domain: Onboarding, Monitoring Detection

Website: [https://hawk.ai/en](https://hawk.ai/en/solutions/)

Speciality:

* Crime pattern detection solution
* Real time transaction monitoring
* Audit proof AI explainability

### IDpal

![Img](https://a.storyblok.com/f/86602/400x400/74dde76ff5/idpal_logo.png)

Location: Ireland

Domain: Onboarding

Website: [https://www.id-pal.com/](https://www.id-pal.com/key-features/)

Speciality:

* User identification solution
* User friendly experience
* Easy API integration

### Privitar

![Img](https://a.storyblok.com/f/86602/400x92/72c0768a2e/privitar_logo.png)

Location: UK & Poland

Domain: Cybersecurity

Website: [https://www.privitar.com](https://www.privitar.com/solutions/)

Speciality:

* Anti-money laundering
* Regulatory compliance solution
* Data sovereignty

### RegBot

![Img](https://a.storyblok.com/f/86602/260x60/47087dcb99/regbot_logo.png)

Location: Spain, Ireland & UK

Domain: Regulatory compliance, cybersecurity

Website: [https://www.regbot.net/](https://www.regbot.net/products/#products-xborder)

Speciality:

* Delivers complete services to end user
* Delivers client protecting bots during compliance process

### Kompany

![Img](https://a.storyblok.com/f/86602/400x97/40e75c3c99/kompany_logo.png)

Location: Austria

Domain: Onboarding process, monitoring process

Website: [https://www.kompany.com/](https://www.kompany.com/)

Speciality:

* Automate compliance process
* Instant access to verified companies data
* Access through web tool or REST API

### Onfidio

![Img](https://a.storyblok.com/f/86602/300x71/f44eb87f8b/onfidio_logo.png)

Location: Portugal

Domain: Onboarding process, cybersecurity

Website: [https://onfido.com/](https://onfido.com/solutions/our-solutions)

Speciality:

* Document verification
* Biometric verification
* Authentication

### LUXHUB

![Img](https://a.storyblok.com/f/86602/200x200/41cde5b357/luxhub_logo.png)

Location: Luxembourg

Domain: Process & Control Tools

Website: [https://www.luxhub.com/](https://www.luxhub.com/)

Speciality:

* Offers Compliance API
* LuxHub ONE integrates financial services with one API

### Muinmos

![Img](https://a.storyblok.com/f/86602/200x200/0b082d57ca/muinmoss_logo.png)

Location: Denmark

Domain: Regulatory compliance

Website: [https://muinmos.com](https://muinmos.com/our-solution/)

Speciality:

* Enables client categorization
* Enables compliant cross border and third country selling

### AQMetrics

![Img](https://a.storyblok.com/f/86602/351x172/b3fa5e05e5/aqmetrics_logo.png)

Location: Offices in EU

Domain: Risk management, Regulatory compliance

Website: [https://www.aqmetrics.com](https://www.aqmetrics.com/)

Speciality:

* Tracking investors activity
* Receiving risk alerts and notifications of compliance breaches

### New Banking Identity

![Img](https://a.storyblok.com/f/86602/400x109/a8a60b240a/new-banking-identity_logo.png)

Location: Denmark

Domain: Onboarding process

Website: [https://newbanking.com/business/](https://newbanking.com/business/)

Speciality:

* Protecting and controlling your personal data
* Client are the owners of their data

### ForcePoint

![Img](https://a.storyblok.com/f/86602/181x34/38c7af9d4f/forcepoint_logo.png)

Location: Offices in EU

Domain: CyberSecurity

Website: [https://www.forcepoint.com](https://www.forcepoint.com/products)

Speciality:

* Provides cloud security solutions
* Data security solutions
* Network security solutions
* Company provides services to many governments

### ScaledRisk

![Img](https://a.storyblok.com/f/86602/400x109/f2f5f97b79/scaledrisk_logo.png)

Location: France

Domain: Onboarding process, Risk management

Website: [https://www.scaledrisk.com](https://www.scaledrisk.com/product-en/)

Speciality:

* Delivers multi-criteria analysis of performance and risk
* Track assets under management and performance day-by-day

## Summary

RegTech’s popularity and familiarity are in subverting this dichotomy. It helps create a world where it is easier for businesses to comply, unlocking both opportunity and business value without compromising consumer protection, creating a better world for everyone.
If you are running a business in the financial sector and want to comply with regulations, you should consider implementing Regtech in your company. To get better guidance, you can always [contact experts at Selleo](https://selleo.com/contact).

The financial crisis gave birth to a revolutionary IT dynamic, which later came to existence as RegTech Solutions. RegTech solutions offer the support to financial institutes (FIs) to compliances, gaining support from regulators and investors.

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CTOs

Founders

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Knowledge hub

Business

Technology

Explore our latest articles

RegTech Solutions In A Nutshell

Top 25 RegTech Companies In European Union In 2022

SaaS Founder Starter Academy

Read Our Blog.
Make better products with us.