Youverify. a startup that helps banks and startups automate their KYC processes, has been listed among the world’s most innovative RegTech companies that every financial institution needs to know about in 2023.
The RegTech100 is an annual list of 100 of the world’s most innovative RegTech companies. These are the companies every financial institution needs to know about as they consider and develop their mission-critical RegTech and digital transformation strategies.
The previous RegTech100 lists received widespread attention. Companies that won places on them generated huge awareness among financial institutions. Many were approached directly by banks and other financial services organisations, while others got a more welcome reception from prospective clients and partners.
The list has been updated for 2023 to recognise the next generation of solution providers shaping the future of compliance, risk management, information security and financial crime prevention.
Read also: Youverify raises $2.5m total seed fund, to expand across Africa
The list aims to help senior management and compliance professionals evaluate which solutions have market potential and are most likely to succeed and have a lasting impact on the industry.
The event is in its sixth year and aims to reveal the heavy hitters transforming the regulatory technology sector. With this considered, this year’s process to select the 100 most innovative RegTech companies included the widest and most diverse range of enterprises yet.
Youverify is a B2B company that builds global compliance products tailored to the needs of businesses. They offer a wide array of services including Know Your Customer (KYC), Know Your Business (business verification), Know Your Transaction (transaction monitoring) and custom compliance workflow builder.
The recent milestone achievement followed after a long year of market expansion activities and product scaling that saw the compliance solution company expand into foreign markets including Kenya, Ghana, South Africa and Cote d’Ivoire.
How Youverify made the RegTech100 List for 2023
A panel of analysts and industry experts reviewed a longlist of nearly 1,300 businesses, which was produced by RegTech Analyst. They sought to highlight the solutions every leader in financial services needs to know about in 2023.
RegTech Analyst director of research Mariyan Dimitrov said,
“With the rapid changes in regulatory frameworks, working habits and customer expectations, compliance and regulatory technology continue to be a growing area of investment for financial institutions as they streamline their operations.”
“The RegTech100 list helps senior executives get a better ROI on that spending by highlighting the leading companies in areas such as onboarding, risk management, fraud prevention and information security”, she added.
The Co-Founder and CEO, Gbenga Odegbami commenting on the recent achievement said
“We’ve worked hard all year building new products to improve our service offerings for customers and expanding into new Global markets. Making this list is a valid reflection of our efforts so far and we look forward to doing even more”.
YouVerify also won The Morgan GRC and Fincrime Award for the best financial crime solution provider of the year 2022.
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