AML pioneers SmartSearch recognised as leading global RegTech firm for third year running

26 November 2019

Award-winning company SmartSearch Ltd, has today been recognised as one of the leading providers of regulatory technology (RegTech) software. For the third consecutive year, SmartSearch has been included in the prestigious ‘RegTech 100’ list, in recognition of its leading role in combatting money laundering.

SmartSearch provides its anti-money-laundering (AML) software to 4,000 client firms and 40,000 users, enabling them to comply with the latest AML regulations and fulfill their AML, Customer Due Diligence (CDD), and Know Your Customer (KYC) compliance obligations. SmartSearch’s software is used by 40% of the top 100 accountancy firms, 25% of the top 200 law firms (including three of the top five firms), banks, mortgage intermediaries and estate agents.

Each year, specialist research firm RegTech Analyst releases the RegTech 100 list, which recognizes the world’s 100 most pioneering companies that are transforming compliance, risk management and cybersecurity. And this year, the competition was tougher than ever, as Mariyan Dimitrov, head of research at RegTech Analyst explains:

“The RegTech industry has established itself as one of the most important sectors within financial technology after seeing tremendous growth in the past three years. In line with this growth, this year’s process to identify the leading 100 companies in the sector was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,000 and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the compliance function.”

Commenting on SmartSearch’s inclusion in the RegTech 100 of the new RegTech 100 list, Martin Cheek, managing director of SmartSearch, said: “We are delighted once again to feature in this list of among the most significant innovators in the RegTech field.

“Money laundering finances a range of serious criminal activities and tackling this scourge is rightly high up on the list of priorities for governments across the world.

“We aim to make it easy for companies to do their bit in preventing money laundering and help them comply with all their regulatory responsibilities. Electronic verification and screening are demonstrably more effective than manual checks, as well as less costly and time-consuming for firms.

“Our platform is designed to move with the times and as new AML regulations come into force across Europe next year, using our software will enable firms to ensure they remain compliant.”

A full list of the RegTech 100 is available at www.RegTech100.com. More detailed information about the companies is available to download at www.RegTech100.com