2 January 2018, London & New York: RegTek.Solutions, launched in January 2017, has recorded an exceptional first year, with awards wins, industry acknowledgments and a USD 5 million Series A investment, co-led by Deutsche Börse and Illuminate Financial Management LLP.
Ahead of announcing their investment, Deutsche Börse revealed its partnership with RegTek.Solutions and Risk Focus for its MiFID II Regulatory Reporting Hub (RRH). With the MiFID II compliance deadline in sight, RegTek.Solutions Validate.Trade software provided an efficient and intuitive way to meet the OTC Transparency Requirements.
Brian Lynch, co-founder and CEO of RegTek.Solutions, commented: “Given that we only launched RegTek.Solutions at the beginning of last year, we had phenomenal success, starting with receiving substantial financial endorsement from Deutsche Börse and Illuminate Financial, which is an important recognition of our work and future growth. 2017 has seen our team expand with senior hires in New York, London and Riga, and our community of clients grow, with more than half of G16 banks now trusting our solutions for trade and transaction reporting compliance.”
To further help financial firms tackle the challenges of MiFID II, RegTek.Solutions announced a strategic alliance with SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider. This new joint service is the first to provide pre-configured, ‘regulation-aware’ reconciliations, fully integrated with leading trade repositories (TRs), approved reporting mechanisms (ARMs) and national competent authorities (NCAs).
2017 has also been the year of awards and acknowledgements. RegTek.Solutions won Chartis-Research’s ‘RegTech Rising Star’ award and was thrilled to be included in the latest edition of RegTech100, FinTech.Global’s directory of the ‘world’s most innovative providers of technology solutions that address the challenges and opportunities of dealing with regulatory issues’.
Brian Lynch added: “Our mission is to be at the heart of the markets’ transformation to sustainable compliance, focusing on quality, completeness, accuracy and transparency. Trade and transaction regulatory reporting needn’t be a high-risk and expensive task, and we’re committed to helping financial institutions turn it into an efficient, scalable and reliable process. Combining market-standard technology with actionable regulatory intelligence, as proven with the launch of EMIR-ready in 2017, we will continue in 2018 to innovate and develop tools that fit firms’ needs and capabilities, providing stable, future-proof and cost-effective solutions.”