Muinmos is one of just three RegTech firms worldwide to have been selected for the prestigious RegTech 100 list for the seventh consecutive year.
The RegTech 100, which shines a light on the movers and shakers in the regulatory technology sector, showcases the most innovative and disruptive businesses in the regulatory technology space that are seeking to help financial institutions manage the fast-paced changes brought on by ongoing regulatory updates and technological advances.
Muinmos was selected for having developed the only client onboarding platform to fully automate the entire client onboarding chain, from AI powered client categorisation to fully automated KYC/AML checks and client risk assessments. Its award-winning SaaS platform also performs constant monitoring, keeping up-to-date with changes both in regulation, clients’ details and risk profiles.
A Growing Sector
Amid high Inflation, private investment slowdown, and spectacular examples of compliance fines and poor risk management, the RegTech sector demonstrated resilience and maintained its strong growth trajectory. Research by Fortune Business Insights found that the sector is anticipated to grow from $12.82bn in 2023 to $60.77bn by 2030, at a CAGR of 24.9% over the period.
With the market continuing to go from strength to strength, the selection process for this year’s RegTech100 was the most competitive yet, with a wide and diverse range of companies to choose from.
A panel of analysts and industry experts assessed a longlist of nearly 1,400 businesses, which was produced by RegTech Analyst. They sought to highlight the technological solutions every compliance, risk and innovation leader in financial services must be in the know about in 2024.
RegTech Analyst director of research Mariyan Dimitrov said, “With tougher economic climate and the continued rise of AI, financial institutions are re-examining the compliance software’s true cost, namely whether a given RegTech solution truly will free up compliance staff for higher-level tasks and whether the software can scale, adapt, and get implemented efficiently.
“This year’s RegTech100 list highlights the leading companies in areas such as information security, compliance, risk management and fraud prevention working on the forefront of innovation and new AI implementations who have demonstrated a strong track record delivering regulatory and operational improvements in financial services.”
Remonda Kirketerp-Møller, Founder and CEO, Muinmos comments, “We are incredibly proud that the panel of experts recognise the unique benefits we bring to financial institutions in addressing their compliance challenges. Being one of just three companies worldwide to have been included in the list for the seventh consecutive year is a huge testament to the commitment of our team in creating an ever-evolving and truly pioneering product which empowers financial institutions to onboard more clients, faster, at lower costs – without compromising on customer experience or compliance.
“Being given this accolade at the end of our most successful year to date is a huge achievement – a great way to end the year!”
A full list of the RegTech100 and detailed information about each company is available to download for free at www.RegTech100.com.