Companies

In 2023, new technologies entered the market that brought new challenges for financial services firms to remain compliant, RegTech was given the opportunity to provide the solutions necessary to fix this issue. Whilst the industry may be still relatively unknown beyond the shores of finance, its importance cannot be understated.  

Behavox, an AI-driven compliance solutions firm, has partnered with BNY Mellon with the aim of enhancing the latter's compliance program.

Recent congressional hearings have shed light on the growing concern of artificial intelligence (AI)-enhanced cyber threats, particularly for SMEs. 

Promon, an application shielding technology firm, recently identified a new cyber threat named FjordPhantom targeting banks in Southeast Asia.

Andalusia Labs, a blockchain security solutions firm, has raised $48 million in a Series A funding round, achieving a valuation of $1 billion.

The European Parliament and Council have reached a political agreement on the establishment of an Anti-Money Laundering Authority (AMLA).

Zero Networks, an Israeli cybersecurity startup, has recently raised $20 million in a Series B investment round.

Drata, known as the world's most advanced security and compliance automation platform, has launched its third-party risk management (TPRM) solution.

Orange Business, a leader in global network connectivity and digital integration and Custodia Technology have partnered.

As another year draws to a close in the RegTech industry, the sector is peering up at a new unexpected leviathan in its midst – Generative AI. The technology, virtually unknown in the mainstream at the start of this year, has created not just new opportunities but completely new challenges for the industry to grip its teeth into.