TAINA selected as one of the UK’S leading edge RegTech Companies

TAINA is one of the UK’s Leading-Edge Tech Companies

TAINA is delighted to be selected by City of London, as one of the UK’s leading tech companies in the financial sector. TAINA will be showcased alongside a variety of market leading technology companies from across the UK innovation landscape, focussing on four key areas of growth; fintech, regtech, cyber and lawtech. 

Over the last 2 decades the UK's financial innovation technology sector has grown and evolved to become one of the world's most competitive, mature and investible markets. TAINA has experienced the transformation of the UK FinTech market first hand. Many have attributed the UK's booming tech market to be a direct result of the United Kingdom homing one of the world's leading financial centres which provides a diverse ecosystem of expertise, talent, capital and global connections.

“The talent and regtech ecosystem in the UK are some of the strongest in the world. With the support of many amazing networks, programs, investors, and mentors based in the UK, TAINA has been able to grow their team, customer base and market share both nationally and internationally.” said TAINA CEO, Maria Scott. “Thank you very much City of London we really appreciate all your support.”

The UK's RegTech Landscape is Growing

What is RegTech? Regulatory Technology (RegTech), often seen as a subsector of financial technology (FinTech) as it is primarily used by the financial services industry. RegTech is technology or software that helps institutions fulfil their regulatory obligations in a more efficient and cost-effective way, by reducing manual processes, mitigating risks, saving costs and improving the overall customer experience.

Globally the RegTech industry continues to experience rapid growth, and attract significant investment, with each year seeing the RegTech space become more competitive than the previous year. According to the Tech brochure there are over 200 regtech companies currently based in the UK alone.

What has driven growth in the UK's RegTech Sector?

• Remote/ Hybrid Working: RegTech growth has been partially driven by the global switch to hybrid and remote working as a result of the global pandemic. Under the new remote circumstances many financial institutions had to assess their current processes and tech infrastructure for to see whether there was an opportunity automate manual processes, improve information security and deliver robust compliance.

• Significant rise in global regulatory changes: In recent years the number of rules and regulatory updates have increased significantly. We have also seen tax authorities and other regulators become more aggressive in enforcement issuing more fines and penalties for non-compliance.

• The UK's Progressive Regulatory Regime: The UK’s regulatory regime was named one of the most favourable globally for financial services. The UK is known worldwide for having some of the most progressive, forward-thinking regulators that understands the importance and potential of innovation in technology in the financial services sector. Regulators are now actively investing in digital transformation projects, tech and skills, and are supporting regtech solutions so they are ready for the digital future.

UK RegTech Investment

There are many emerging and accelerating RegTech trends which in turn have led to RegTech spending by financial institutions rising, according to the Tech brochure RegTech Analyst spending is projected to exceed $130bn by 2025. TAINA has recently raised 2 successful funding rounds and have welcomed top tier financial institution clients, Deutsche Bank and HSBC Asset Management as investors.

In recent years RegTech has seen a shift in financial institutions understanding that they want strategic RegTech partners and not just vendors. Financial institutions are now investing in RegTech providers as true partners that understand and address their financial and strategic objectives and with whom they have clear strategic synergy. 

"The UK has fantastic foundational support, strong STEM and engineering capabilities; and a very supportive and active angel community. The EIS/SEIS tax benefit really helps to motivate super early stage risk capital – I’d say this is unique."  Kara Byun, Head of Fintech, Venture & Growth Investments, HSBC Asset Management "If I think about historic trades, and trades on the books - the UK is an incredibly strong space for RegTech.

To read the full tech brochure as a pdf please click here.

For more information on how our fully automated FATCA and CRS Validation platform can add value to your business, get in touch or request a demo to see it in action.