First AML has been recognised as part of the RegTech100, an annual list of 100 of the world’s most innovative RegTech companies. The list describes itself as “the world’s most innovative RegTech companies that every financial institution needs to know about.”
It recognises the next generation of solution providers shaping the future of compliance, risk management, information security and financial crime prevention. It also aims to help senior management and compliance professionals evaluate which solutions are most likely to be successful and can have a lasting impact in the industry.
The UK, and in particular London, has long been recognised as a hub for money-laundering. In light of this – and considering the very real human consequences of money laundering – implementing AML procedures has never been more crucial.
A range of factors that were considered by the board were:
- Industry significance of the problem being solved;
- Growth, in terms of capital raised, revenue, customer traction;
- Innovation of technology solution offered;
- Potential cost savings, efficiency improvement, impact on the value chain and/or revenue enhancements generated for clients;
- How important it is for financial institutions to know about the company
Simon Luke, UK Country Manager at First AML commented: “It’s fantastic to be named as part of the RegTech100 list. This endorsement shows that we are a leading company in the regulation technology space, and that our mission to create a world where customer onboarding is fast, and frictionless is resonating with others."
To see the full list, head here: https://fintech.global/regtech100/
About First AML
This article is not only written from the perspective of a technology provider, but also from the lens of compliance professionals. Prior to releasing Source, First AML’s orchestration platform, we processed over 2,000,000 AML cases ourselves. Understanding the acute problem that faces firms these days as they try to scale their own AML, is in our DNA.
That's why Source now powers thousands of compliance experts around the globe to reduce the time and cost burden of complex and international entity KYC. Source stands out as a leading solution for organisations with complex or international onboarding needs. It provides streamlined collaboration and ensures uniformity in all AML practices.
Keen to find out more? Book a demo today!