PassFort takes its place on the RegTech100 list 2022

Today sees the launch of the RegTech100 list for 2022 and we are delighted that PassFort has taken its place among a stellar line-up of RegTech rockstars

London, 7 December 2021: The new RegTech100 list for 2022 was launched today. And, PassFort, the provider of SaaS RegTech solutions to automate anti-financial crime and compliance processes, takes its place in the top 100.

Now in its fifth edition, the list recognizes 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.

The RegTech (regulatory technology) industry has experienced rapid growth over the last two years as financial institutions dealt with a rising tide of regulatory changes and rules updates brought by remote working and increased use of digital channels. 

As a result, spending by banks and other financial institutions on RegTech is now projected to exceed $130 billion by 2025. It is not surprising therefore that this year’s process to identify the 100 RegTech innovation leaders was highly contested. 

A panel of analysts and industry experts voted from a longlist of nearly 1,200 companies produced by RegTech Analyst [link], a specialist research firm. Sixty new companies entered the RegTech100 for 2022 and the finalists were recognized for their groundbreaking use of technology to solve significant industry problems, transforming or generating efficiency across compliance functions.

RegTech Analyst’s director of research, Mariyan Dimitrov, said, “Banks and other financial institutions are investing heavily in AI capabilities to automate highly manual regulatory tasks, support digital onboarding processes, and monitor for fraudulent activity. The RegTech100 list helps them filter through all the vendors in the market by highlighting leading companies in sectors such as identity verification, risk management, communications monitoring, information security and financial crime prevention.”

“In an era of fast transformation and incredible challenges, it is an honour to be recognised as an innovator in the RegTech market. PassFort works with customers on a continual basis to automate and then refine their compliance and anti-financial crime processes, so they can always be confident of the process they have in place. We focus on ensuring a customer’s configuration of the PassFort platform is right from day one, but that it’s also flexible and scalable to cope with changes in the business or the regulatory landscape - which can come thick and fast.” Said Donald Gillies, CEO of PassFort. “Our entry into the RegTech100 is a testament to the PassFort team and also to our customers and partners in the RegTech ecosystem.”

A full list of the RegTech100 for 2022 and detailed information about each company is available to download for free at www.RegTech100.com.

About PassFort

Founded in 2015 by Donald Gillies and Henry Irish and headquartered in London, PassFort supports regulated financial services companies to rapidly onboard more than 4.5 million customers each year in 197 countries, then manage risk and compliance standards throughout the customer lifecycle.

Born in the cloud, PassFort’s solutions are designed for the digital economy: hardware-free, affordable, flexible to configure and easy to use, with constant feature innovation and a choice of deployment options. Our low to no-code solution thrives on complexity, solving compliance challenges at scale without being costly to implement or evolve. We support multiple customer types and product lines, with effortless expansion across 211 jurisdictions.

PassFort removes the compromise between compliance and customer experience in the fight against financial crime. More efficiency. Great customer experiences. No compromise.

e. info@passfort.com | w. www.passfort.com | t. @PassFortKYC