Cobwebs Technology has been added to the prestigious RegTech100 list that recognizes the tech companies that have transformed compliance, risk management, and cybersecurity.
NEW YORK, December 2, 2020 (Newswire.com) – The world’s most innovative technology solution providers that address the challenges and opportunities of dealing with regulatory issues within financial services, were announced today by RegTech Analyst, a specialist research firm.
With the regulatory technology (RegTech) industry experiencing huge growth over the past few years, the fourth annual RegTech100 list was more competitive than ever before.
Over $5bn has been invested in RegTech companies in 2020, as compliance challenges for banks and other financial institutions that are already grappling with the unrelenting pace of regulatory change across all jurisdictions now have to deal with the compliance challenges that have been exacerbated by the shift to remote work during Covid-19.
As a result, this year’s process to identify the leading 100 RegTech innovation companies was more competitive than ever before. A panel of analysts and industry experts voted from a long list of over 1,000 companies produced by RegTech Analyst.
Sixty-two new companies entered the RegTech100 for 2021 and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the compliance function.
“Banks and other financial institutions need to be aware of the latest RegTech innovation in the market in order to avoid new compliance risks and stay competitive despite new regulations around customer onboarding and remote communication post Covid-19,” said RegTech Analyst director of research Mariyan Dimitrov. “The RegTech100 list helps senior management 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 reporting.”
Cobwebs Technologies is a market leader in providing innovative and comprehensive Artificial Intelligence- and Money Laundering-powered analytics and was chosen for its game-changing solutions that have set a new standard for RegTech.
“We are honored to have been selected for this list of innovative global RegTech list, especially at a time when compliance teams and financial crime fighters worldwide face new technological and logistical challenges brought about by the global health crisis,” said Udi Levy, Co-Founder and CEO of Cobwebs Technology. “Our technology provides users with easy-to-use yet cutting edge solutions which allows them to make accurate and effective decisions. With Regtech evolving at a growing pace, we are committed to ensuring that our clients have only the best solutions to manage complex global regulatory requirements.”
Founded in 2015, the company’s innovative WEBINT solutions identify and mitigate threats with just one click and are tailored to the needs of law enforcement, national security agencies, and the private sector.
The automated WEBINT solutions enable financial institutions to harness and leverage the vast volumes of data and intelligence they find in real-time, therefore allowing them to deliver compliant intelligence-driven insights.
Cobwebs was recently awarded the New Product Innovation Award accolade by Frost & Sullivan for its AI-powered Web Intelligence Solutions.
For further information, please visit our website: www.cobwebs.com
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Source: Cobwebs Technologies