Tookitaki is pleased to announce that it has entered the prestigious RegTech100 list for the second consecutive year.
This is yet another recognition for Tookitaki for its efforts to revolutionise financial crime detection and prevention for banks and Fintechs.
Tookitaki is a game changer in the RegTech (regulatory technology) space with its unique way of improving risk coverage by democratising AML insights through a privacy protected federated learning framework powered by an ecosystem of AML experts.
The brand has worked with some of Asia's leading FinTechs and banks, confirming the trustworthiness of its products. It has the backing of some of the world's top investors, and it has been recognised for its innovation by organisations such as the World Economic Forum.
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The new RegTech100 list for 2022 is launched on 7th December 2021. Now in its fifth edition, the list recognises the world’s most innovative technology solution providers that offer products and services in the areas of compliance, risk management, information security and financial crime.
Financial institutions have been dealing with a growing wave of regulatory changes and rule updates brought on by remote working and increasing use of digital channels after Covid-19, and the RegTech industry has seen rapid growth in the last two years. As a result, RegTech spending by banks and other highly regulated institutions is projected to exceed $130bn by 2025.
Read More: 5 Key Insights on RegTech Adoption
Tookitaki was chosen from a longlist of approximately 1,200 companies compiled by RegTech Analyst, a professional research agency, by a panel of analysts and industry experts.The finalists were recognised 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 are investing substantially in AI capabilities to automate extremely laborious regulatory duties, enhance digital onboarding procedures, and check for fraudulent behaviour," said RegTech Analyst director of research Mariyan Dimitrov.
The RegTech100 list helps them 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 financial crime prevention.”
Here's the full list of the RegTech100.
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