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Regtech description
Regtech helps businesses follow financial rules by automating identity checks and compliance tasks. It verifies customers and businesses, preventing fraud and money laundering. This software offers tools for ongoing monitoring, ensuring compliance with global regulations and watchlists. Regtech helps manage risks and cut costs associated with regulatory compliance.
Who is Regtech best for
Regtech automates financial regulatory compliance through KYC/KYB checks, transaction monitoring, and fraud detection. This software helps small businesses manage risk and reduce compliance costs. It simplifies identity verification, automates reporting, and provides real-time alerts for suspicious activity.
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Ideal for small businesses needing streamlined regulatory compliance.
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While applicable to various sectors, it's particularly relevant for financial services.
Regtech features
| Supported Regtech automates KYC checks, including identity verification and document authentication. |
| Supported Regtech supports real-time transaction monitoring to detect suspicious patterns and activities. |
| Supported Regtech uses AI and machine learning to detect and prevent fraudulent activities in real time. |
| Supported Regtech automates and customizes reports for AML and KYC compliance. |
| Supported Regtech automates KYB compliance, including business registration and ownership verification. |
| Supported Regtech solutions often use AI and automation for adverse media checks. |
| Supported Regtech solutions support real-time alerts for suspicious transactions based on predefined rules. |
Regtech alternatives
ComplyAdvantageComplyAdvantage has slower momentum and fewer user reviews than Regtech. It also lacks automated ID verification and document verification features.Read more
IComplyMore geared towards GDPR compliance and data subject access requests. Has slower momentum currently.Read more
IT GlueBetter for IT documentation and password management for MSPs. Not suitable for financial compliance and fraud prevention. Focuses on internal IT processes rather than regulatory compliance.Read more
NorthRowBetter for financial services and property businesses. Has a user-friendly interface and customizable workflows. NorthRow is growing faster.Read more
YouverifyBetter fit for retail, manufacturing, real estate, transportation, software/IT, and professional services. A Youverify alternative focused on finance, banking, and startups. Has positive user reviews for fraud detection and KYC services.Read more
Regtech FAQ
What is Regtech and what does Regtech do?
Regtech software helps businesses comply with financial regulations. It automates identity verification (KYC, KYB), transaction monitoring, and compliance reporting, reducing fraud and money laundering risks. Regtech uses AI for real-time fraud detection and adverse media checks, ensuring compliance with global watchlists.
How does Regtech integrate with other tools?
Regtech integrates with existing systems through APIs, allowing seamless data exchange for KYC/AML checks, transaction monitoring, and compliance reporting. This streamlines workflows and ensures adherence to regulatory requirements.
What the main competitors of Regtech?
Regtech's main competitors include ComplyAdvantage, ComplyCube, iComply, NorthRow, ACAIA, and Alloy. These alternatives offer similar services for KYC/AML compliance, fraud prevention, and risk management, catering to various industries and business sizes.
Is Regtech legit?
Regtech enhances financial regulatory compliance through automated identity checks and ongoing monitoring. This helps mitigate risks like fraud and money laundering, ultimately promoting a safer financial ecosystem. It's a legitimate solution for businesses navigating complex regulatory landscapes.
How much does Regtech cost?
I couldn't find pricing details for Regtech. Contact the vendor directly to discuss Regtech product pricing, explore potential discounts, and determine if it fits your budget.
Is Regtech customer service good?
There is no information available about Regtech's customer service.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.