SYDNEY, October 31, 2017 /PRNewswire/ --
Australia's leading RegTech companies appear on the newly released RegTech 100 list, which identifies regulatory technology companies that every major financial institution in the world needs to know about.
The RegTech 100 was chosen by leading industry experts following an analysis of 416 RegTech companies undertaken by FinTech Global, a data and research company.
The RegTech sector in Australia is a well-established and integral part of its vibrant FinTech ecosystem. Over a dozen RegTech companies are based in the country and many of them are having a global impact in an industry that could potentially be worth tens of billions of dollars as banks and financial institutions look to generate cost savings and develop enhanced capabilities for their compliance procedures.
Some of the most exciting companies on the list include CXi Software based in Melbourne, Lucsan from Sydney and Trax Print from Melbourne.
CXi Software transforms the way fund managers perform their back-office administration by replacing legacy technology with automated and streamlined business processing within a technology ecosystem.
Lucsan helps organisations understand and manage business risks in the regulatory, compliance and governance space.
Trax Print enables users to track and verify digital and physical documents and identification through the use of securely encrypted QR codes.
According to the Global RegTech Review, an in-depth industry report just issued by FinTech Global, Australia looks set to see further growth in its RegTech sector as financial institutions around the world become more active in their search for partners and suppliers to help them deal with the ever-increasing burden and complexities of regulatory legislation. The RegTech sector is attracting huge interest from investors, including brand name firms in Silicon Valley and major banks. In Australia, investors such as SBI Venture Capital, Telstra Ventures and KTM Capital appear to be ahead of the game, having already backed some of Australia's RegTech companies.
A full list of the RegTech 100 can be found at http://www.RegTech100.com. A detailed analysis of the Australian and global market is provided in the Global RegTech Review, produced by FinTech Global, which is available to a limited number of direct subscribers.
SOURCE FinTech Global