Anti-money laundering (AML) firm SmartSearch has been named as a leading financial technology solution provider by RegTech Analyst for the second year running.
Each year, specialist research firm RegTech Analyst releases the RegTech 100 list, which recognises the world’s 100 most pioneering companies that are transforming compliance, risk management and cybersecurity.
Mariyan Dimitrov, head of research at RegTech Analyst, said: “The RegTech industry has seen huge growth in the last two years as banks and financial institutions grapple with the unrelenting pace of regulatory change across all jurisdictions.
“As a result, this year’s process to identify the leading 100 companies in the RegTech space was even more competitive than last year.”
RegTech Analyst produced a long list of 824 companies – almost double the 416 longlisted last year – and a panel of industry experts voted for the final 100. SmartSearch was one of just 30 UK companies on the final list thanks to its use of technology to fight anti-money laundering and fraud.
Martin Cheek (pictured, centre), managing director of SmartSearch, said: “We are really pleased to have been recognised as a pioneer in our field. We have worked hard over the past seven years to develop a platform which is constantly innovating in order to stay one step ahead of the ever increasing and complicated anti-money laundering and fraud regulations.”
SmartSearch now has more than 3,000 customers and 35,000 users, including one in four of the top 200 law firms and one in three of the top 100 accountancy practices.
Cheek added: “The SmartSearch platform has been fundamental in facilitating change in the fight against money laundering. This is evidenced by the fact that the Fifth Money-Laundering Directive, which was adopted by the EU in April, now calls for electronic identification as an essential part of verifying customer information.
“Soon, electronic verification will become mandatory, and when that happens, we are already in place to offer the solution.”
