The Armadillo Group has been named as one of the most innovative RegTech companies in the world after securing a place on the Global RegTech100 list for 2022. This is the second year in a row that the Armadillo Group has been featured on the top 100 list, compiled by RegTech Analyst and voted on by a panel of industry experts.
Nearly two thirds of last years’ companies failed to make the top 100 this year, with Armadillo being one of the 12 featured companies.
Armadillo continues to build out its Armadillo Hub platform, a cloud–based, end-to-end automated RegTech platform that gives regulated businesses the tools they need to investigate corporate and private clients. The Armadillo Hub uses Robotic Process Automation (RPA) to allow more accurate readings of data patterns and the automation of many compliance processes.
RegTech Analyst writes:
“Regulations are getting more complex, and the amount of data that firms need to monitor is only growing. RPA is the only way to keep up. Armadillo has been aware of this importance for over a decade. It is continuing to innovate the use of the technology and mixing it with AI, having recently released Armadillo Dig Deeper. It leverages RPA and AI to automatically crosscheck someone against its AML database of sanctions, PEP’s or adverse media risk exposure, and provide the user with all related information in a simple format."
“The RegTech100 is an annual list of 100 of the world’s most innovative RegTech companies selected by a panel of industry experts and analysts. The list aims to help senior management and compliance professionals evaluate which solutions have market potential and are most likely to succeed and have a lasting impact on the industry.”
The achievement comes as the company is set to celebrate its 25th year on the internet and is owed to Armadillo’s continual focus on technological innovation, as well as its command over the most comprehensive pool of KYC and compliance data in the world. Its dataset is derived from a unique network built over 25 years and provides access to data on 420 million companies, 1 billion businesses and 5 billion individuals.
Emmanuel Cohen, Founder & CEO of The Armadillo Group, said:
“Armadillo was founded in 1997 and we have not stopped innovating since. As well as our unrivalled network, we are proud to say we are the only solution on the market that offers a complete toolkit to help companies pass inspections.
“The RegTech100 is the most renown and respected benchmark in the industry. So to be featured on it for a second time is a testament to the innovative minds and hard work of the whole team that have got us to where we are and where we are going. I’m extremely proud of them all.
“To be recognised on an international level is a powerful affirmation of our status as industry leaders. We are excited to grow alongside this rapidly evolving industry, as we continue to expand and develop our uniquely comprehensive technology.”
Since launching in 1997, Armadillo has provided solutions to a number of top tier, globally renown financial institutions and investment banks. Additionally, the need for RegTech is rapidly increasing. KPMG forecasts annual RegTech spending to increase to $76bn by 2022 – up from $10.6bn in 2017.