We are excited to announce the launch of our regulatory technology (regtech) coverage!
Regtech companies help businesses automate or streamline activities around regulatory compliance. Examples include compliance for business operations, financial services, health services, and manufacturing.
This post will introduce and define the different categories that make up the regtech sector.
The definitions of the regtech categories are as follows:
Business Regulation Compliance: Companies that help businesses comply with regulations affecting their operations. Examples include compliance for HR training, equity compensation, marketing, and document management.
Compliance Tracking and Reporting: Companies that help businesses track current, changing, and emerging regulations, as well as create reports according to those regulations. Examples include regulation databases and the sending of reports to the appropriate government agencies.
Data and Privacy Compliance: Companies that help businesses comply with regulations around the integrity and security of their data. Examples include data encryption, data recovery, cloud security, and prevention of unauthorized access.
Financial Crime and Identity Compliance: Companies that help financial institutions comply with regulations focused on identity related crimes. Examples include client on-boarding (Know Your Customer), payment fraud (Anti Money Laundering), account takeover, and identity verification.
Financial Services General Compliance: Companies that help financial institutions comply with regulations. Examples include trade monitoring, loan monitoring, data management, and financial adviser compliance tools.
Governance, Risk, and Compliance: Companies that implement Governance, Risk, and Compliance (GRC) processes to help businesses reliably achieve objectives, address uncertainty, and act with integrity. Examples include performing internal audit operations to ensure compliance with internal guidelines and regulations.
Health Services General Compliance: Companies that help health service institutions, such as hospitals and medical labs, comply with regulations. Examples include health data protection and pharmaceutical tracking solutions.
Network Security Compliance: Companies that help businesses comply with regulations around cyber-security risks. Examples include the mitigation of cyber-security risks and reviews of IT infrastructure and network devices.
Quality and Sustainability Compliance: Companies that help businesses comply with Quality Management Systems (QMS) and Environment, Health, and Safety (EHS) requirements. Examples include the implementation of manufacturing best practices and safety incident report tracking.
Tax Regulation Compliance: Companies that help businesses comply with national and international tax regulations. Examples include automatically calculating taxes and submitting payments on time in the correct formats.
To learn more about our complete regulatory technology report and research platform, visit us at www.venturescanner.com or contact us at [email protected].