Auditcomply Recognized in the Regtech Top 21 Framework for Risk ManagementRichard Wilson August 7, 2020
AuditComply, a leading Enterprise Risk Management platform transforming the way organizations manage and report on Risk, Audit & Regulatory Compliance programs are pleased to announce it has been included on MEDICI’s Top-21 RegTech framework for 2020. This highly coveted framework identifies companies with the most innovative and cutting edge technologies in the audit, risk and regulatory compliance space.
The rise of RegTech has been driven by an increasingly complex regulatory environment, especially in financial services organizations, which in turn has created the need to find more efficient ways to comply. Since the 2008 financial crisis, there has been a flood of regulations impacting the banking industry. Firms did not have time to focus on technology so manual processes were established to address the frequency of new reporting requirements. This resulted in heightened demand for talented resources and related costs to comply.
Based on the seven identified primary RegTech verticals, matrices were created in accordance with a model, taking into account different variables collected over two months of combined work by the MEDICI Team in cooperation with the EY Italy Team. Data was collected and analyzed using various primary & secondary sources and by leveraging the MEDICI Startup scanner. The data points were given different weightages based on importance, which helped determine the company’s value on the specific axis. Companies have been placed into matrices in accordance with:
RegTech verticals of primary solution offered
Market penetration value
Expert judgement by subject matter experts from EY and MEDICI
AuditComply was recognized by the MEDICI team for managing risk and compliance in real-time and providing industry best practices for end-to-end management of the audit lifecycle and ensuring the integration of the entire audit process with all risk operations.
Marketing Manager at AuditComply, Richard Wilson commented, “We’re incredibly excited to be included in this framework and to be described as a cutting-edge and innovative technology solution is always special. Today, AuditComply is helping industry leaders like Shell, BMW, Sysco and more tackle extreme regulatory conditions, using audit and risk management to identify opportunities and help companies succeed even in these uncertain times. AuditComply has experienced significant growth in 2020 and this placement in the RegTech framework for Risk Management reinforces and solidifies AuditComply’s position as a true disruptor in the world of enterprise risk.“
Click here to read about the RegTech Top 21 – 2020 Edition Report.
As a fully-integrated risk platform, AuditComply transforms the way enterprises assess, automate, manage & report on Risk, Audit & Regulatory Compliance processes in real-time.
AuditComply operates in highly regulated industries such as Automotive, Aviation, Food & Beverage, Oil & Gas, Finance, and Manufacturing with key fortune 500 clients situated throughout the UK, EU, US, Middle East and Asia Pacific regions.
To avail of a 30-day trial of the AuditComply, discuss a potential partnership or to find out more about this article please contact the team on firstname.lastname@example.org