REGnosys named in the RegTech50

Over the past decade, regulatory compliance has been a dominant theme for financial institutions. Regulatory reporting has proved increasingly difficult due to the number of conflicting and ambiguous rules, resulting in fragmented approaches globally. In many ways, the industry has historically struggled with innovation – beholden to inefficient legacy processes and complexity across post-trade data management.  

These challenges, however, have provided the impetus for a rapidly growing global RegTech sector, which has emerged as one of the fastest advancing areas of financial technology. The global RegTech market size is expected to grow from $5.46 billion in 2019 to $28.33 billion by 2027, with spending on regulatory technology estimated to make up more than 50% of global compliance budgets by 2026. KPMG has outlined RegTech as a “particularly hot sector in the EMEA region in the last few months” in the wake of macroeconomic headwinds and upcoming regulatory changes. 

The city of London, where REGnosys is based, has been a central driving force in this growth and has become one of the major RegTech capitals of the world. In 2020, for example, London held the top spot for RegTech investment with 33 transactions completed in total, closely followed by New York (30) and San Francisco (25). 

Since 2017, we’re proud to have hired exceptional talent alongside this growth and have developed our Rosetta platform as an award-winning product that is uniquely suited to the challenge. Rosetta is the first and only low-code collaboration platform dedicated to the emerging Digital Regulatory Reporting (DRR) movement. It equips DRR firms and their regulators with a shared language to digitise the reporting requirements in a transparent, standardised and cost-effective way. 

REGnosys is also the technology partner to the industry's trade associations who are developing the Common Domain Model (CDM). The CDM is an open-source, human-readable and machine-executable data model for financial contracts and processes, which is built, tested and released using Rosetta.  

DRR participating firms are collaborating on Rosetta to build an open source, standardised and machine-executable interpretation of the reporting rules using the CDM as an input. Thanks to the Rosetta platform’s integration automation capabilities and support for the conversion to and from existing messaging standards and platforms, firms can directly plug this logic into their reporting systems. This allows them to achieve consistency in the interpretation and implementation of new post-trade reporting requirements at a fraction of the usual cost.  

Through our work at the core of the RegTech industry, we believe that the adoption of technology-driven solutions will be key in helping firms not only adapt to upcoming regulatory deadlines – such as the CFTC Rewrite and EMIR Refit - but also prepare for future updates more effectively. 

We look forward to helping financial institutions harness the DRR movement and use Rosetta to navigate these regulatory changes and adopt a more strategic approach to data management. 

To find out more about our Rosetta platform, you can read about our technology here or get in touch for an initial discussion.