An end-to-end solution ensuring near real-time onboarding and efficient risk management
About
Applicant name: ISPIRAL IT SOLUTIONS LTD
Innovation Name: RegTek+
Innovation Type: Solution
Website: https://www.i-spiral.com
Mission: RegTek – An end-to-end solution ensuring near real-time onboarding and efficient risk management
Innovation Description: RegTek is a solution enriched with the finest regulatory technological advancements available, of which the most notable are:
– Machine Learning and AI: Featuring machine learning enabled RegTek to continuously adapt to the rigorous changes in laws, the market and the advancements of digital criminal activity. It also accelerates the compliance processes, reducing the time needed to execute a task and minimising the costs.
– AML and Anti-Fraud Analytics: minimises the risk exposure and helps the fight against money laundering and fraud in a faster, more reliable and detailed fashion.
Its modules include:
-AML Risk Assessment
-AML/Fraud Transaction Monitoring & Screening
– Transaction Monitoring
-Case & Alert Management
– Transaction Screening-Market Abuse
– Fraud Investigation
– KYC & Client Onboarding
– PEPs, Sanctions, Adverse Media
– Digital Identity Verification & Screening
– Electronic Identity Verification
– Electronic Document Verification
– OCR
– Face Matching
– Liveness Detection
– Corporate Registrars-Fraud Risk Analysi
Innovation Inspiration: In this complex digitised business world we live in, financial crime evolves faster and operates smarter eachday. As a result, corporations within the financial servicesindustry are forced to increase their AML compliance budgets and employ more manual resources for onboarding and validating their clients.
Our ultimate goal is to fight financial crime, human trafficking and drug trafficking, and taking in account thealready established software we showcase, we wanted todevelop a more sophisticated and delicate solution that will reflect not only upon the current times, but the future as well.
The solution displays a state-of-art, user-friendly interface, suitable for all regulatory bodies and jurisdictions. It is both on-premise and cloud-based to meet all client expectations and its features can be fully tailored to respond to specific demands. Clients do not even need to discard their existing software and operations, RegTek is like a master puzzle piece that will come to fit all specific structure and complement it.
Who benefits from the innovation most? RegTek, is a tool carefully crafted to enable Compliance Officers detect, assess and manage risk faster and with greater accuracy.
The solution was initially created for Banks and other Financial Institution, Forex Brokers, Investment Firms, ICOs, Payment System providers, Gaming & Gambling, and Insurance companies. But, due to the continuous changes in laws and regulations, the markets demandingfor a reliable and efficient regtech solution are increasingincluding the real-estate sector and even the Art industry
The platform can be accessed from everywhere and at any device due to its cloud-based nature and comes withglobal databases and machine learning automations thatenable for near real-time updating in multijurisdictional scale.
What are you most proud of about your innovation? iSPIRAL core values and vision for a safer internet led to the incorporation of all the recourses we have and the addition of the latest technological advancements in the sector in order to create a modern, more reliable and effective solution.
RegTek is our version of what the next generation of regulatory technology software can be and aims to become a statement and a reference in the sector. Its digital nature enables global scale access and its constantly developing interface focuses on ease of use, smoothness and task versatility
Status of Innovation: In-market
Innovation Active Since: 09/16/2019
Applicant Type: Private Company
Headquarter City: Larnaca
Headquarter Country: Cyprus
Year Founded: 2008
Main Category
Main Category Choice: Compliance Solution
Why do you think you should win this category?:
Our innovative Enterprise Compliance Solution handles all Onboarding, KYC, AML and Fraud Detection needs for organisations within the financial sector. The RegTek Platform is an end-to-end KYC, AML, Compliance & Fraud Detection Solution, which delivers tools that minimise Risk. The development of this innovative tool works for the benefit of Compliance Officers, who face the constant strain of ensuring holistic fraud investigation control and management. The work of Compliance Officers in responding and managing fraud incidents is speedy and automated, because the solution sets risk evaluation criteria upon onboarding of clients, thus identifying and alerting early on, on suspicious activities.Our team of professionals consists of both experts in the respective sectors our clients come from and features exceptional feats of knowledge in both the compliance and regulatory sector and the technologies revolving around it.
Notable case studies include:
– TFI Markets: PSP
– eCREDO: digital financial services firm
– NETinfoPAY: PSP
Secondary Category
Secondary Category Choice: Remittances for Development
Why do you think you should win this category?:
“RegTek, our regulatory technology solution serves as an exceptional tool in fighting criminal acts like human and drugs trafficking. The software includes modules that are specifically crafted to detect and expose fraud. Those modules are:
- AML Risk Assessment
- AML/Fraud Transaction Monitoring & Screening
- KYC & Client Onboarding
- PEPs, Sanctions, Adverse Media
- Digital Identity Verification & Screening
Our state-of-the-art Onboarding, KYC & AML solution does not only come equipped with all necessary modules, but it enhances them with the latest technologies like cloud computing, BI analytics and machine learning. Those tech features allow RegTek to be both on-premise and and SaaS, analyse large amounts of data gathered from global databases and automate all tasks. The outcome is flawless fraud investigation and accurate detection of like human and drugs trafficking in real time.
Notable case studies include:
-TFI Markets: PSP
-eCREDO: digital financial services firm
-NETinfoPAY: PSP”
Team Members
Full Name: Anastasios Ttiniozou
Role: Executive Director
Linkedin: https://www.linkedin.com/in/
Supporting Links
Entry Representative
Full Name: Anastasios Ttiniozou
Role: Executive Director
