February 25, 2017
Regulatory and compliance issues are some of the most important, complex and resource-consuming problems to solve for any organization, especially for startups with limited resources. Over decades of development, regulatory requirements and documentation have grown into a matter of special expertise and skills to decode. Globally, ~$80 billion is spent on governance, risk and compliance, and the market is only expected to grow, reaching $120 billion in the next five years.
The costly and complex procedures imposed on every financial institution around the world resulted in the growth and development of solutions addressing the issue. RegTech companies nowadays are offering advanced, AI-powered solutions and various hubs are represented by a set of own market leaders. Further, we will review some of the RegTech solutions providers unleashing innovative capacity for financial institutions in the United States.
Appzen is a platform that uses artificial technology to automate the expense report auditing. AppZen Audit analyzes data not only from the expenses but also combines it with millions of additional data sources across the web to detect fraud and compliance issues that cannot be matched by human auditors.
Ayasdi offers an insight discovery platform that helps organization ...