Pole Star featured in the RegTech 100

Pole Star's PurpleTRAC solution places Pole Star in the list of 100 innovative RegTech companies that every financial institution should know about in 2018.

The RegTech 100 list showcases the world’s most innovative providers of technology solutions that address the challenges and opportunities of dealing with regulatory issues; and Pole Star has been selected by a panel of analysts and industry experts as one of the most innovative in the RegTech space - thanks to the powerful PurpleTRAC sanctions screening solution created for banks and financial institutions with exposure to maritime trade risk.

RegTech (regulatory technology), is now regarded as one of the largest and most important sectors within the FinTech space. As banks and other financial institutions grapple with the costs and complexities of mission-critical regulatory requirements, the RegTech 100 was produced to identify the 100 innovative companies that every financial institution needs to know about in 2018, as they look for solutions to address the challenges and opportunities they face.

PurpleTRAC is the only ship-centric sanctions screening and compliance solution that takes seconds to screen a ship for the banks and financial institutions exposed to the financial and reputational risk of financing maritime trade. Over 90% of world trade is transported by sea, and in response to increasingly complex regulatory demands, PurpleTRAC has taken the financial world by storm, streamlining and automating processes that were previously expensive, complex, and time-consuming.

 

Julian Longson, MD of Pole Star, says: “It is an honour and privilege that our
PurpleTRAC maritime-KYC solution has been included in the RegTech 100
list. Our Financial Markets & Compliance team has worked tirelessly with
clients to develop an enterprise grade best-of-breed service to those banks
and financial institutions who rely on us to provide fast, accurate, and reliable
actionable intelligence.”

The 100 companies were chosen by a panel of industry experts who reviewed hundreds of RegTech companies in an analysis undertaken by FinTech Global, a data and research firm. The selected companies were recognised and commended for their innovative use of technology to generate efficiencies and performance enhancements across the compliance function within financial institutions, which spend tens of billions of dollars in this area each year.

The website lists the 100 companies, and profiles of the RegTech 100 companies will be included in the Global RegTech Review, now available. The review is a 250-page research report on the global RegTech space, produced in response to demand from subscribers of the FinTech Global data and research platform.