The list of the world’s 100 most influential and innovative companies offering RegTech solutions was released today. FinTech Global and RegTech Analyst award this recognition to industry players that stand out for their expertise in the RegTech market, delivering bespoke projects carried out for their clients and the positive impact of their multi-award-winning solutions.
The RegTech100 2024 list includes Worksmart in its seventh annual publication, valuing its position as the go to, niche provider of RegTech solutions, helping firms manage governance, compliance, and risk.
Worksmart are truly global pioneers in technology solutions that stand out in areas such as regulatory compliance, risk management, streamlining complaints processes, quality assurance and training and competence. Market Engagement Director Nic Dent commented:
“The Worksmart product set is a bedrock for integrating with other processes. So, we are looking forward towards a notion of enhancing what we do through the broader capabilities that are available within other innovative tools”.
Spending on RegTech technology alone by banks and other highly regulated institutions (insurance, financial services and others in the FinTech ecosystem) is projected to exceed $130 billion by 2025.
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, and Worksmart are honoured to have been selected once again. Nic went on to say:
“We have always prioritised our customers when it comes to the cutting-edge technology we offer. Our commitment to collaboration with trade bodies and extensive knowledge of regulatory guidance, has enabled us to develop innovative RegTech solutions. Leveraging our deep domain expertise in financial services and our passion for creating solutions, we strive to help firms save valuable time and money while seamlessly integrating regulatory changes. These values are the driving force behind our company’s progress, and I am thrilled to announce that our efforts have once again been recognised with our acceptance into the prestigious 2024 RegTech100 global directory.”
Market Engagement Director