Top 10 RegTech Startups in india

India’s regulatory technology (RegTech) landscape is thriving with innovative startups leveraging advanced technologies like artificial intelligence, blockchain, and big data analytics to streamline compliance and risk management processes. Here are ten of the most prominent RegTech startups in India.

1. Signzy

Attribute	Details
Name	Signzy
Founded	2015
Key Features	AI-powered smart contracts, digital onboarding, biometric authentication, fraud detection
Industry Focus	Banking, Insurance, E-commerce
Notable Achievements	Recognized for innovation in AI and blockchain for regulatory compliance
Website	Signzy

Signzy-Top 10 RegTech Startups in india

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Signzy revolutionizes compliance processes with its AI and blockchain-powered solutions. It offers an AI-powered smart contract platform that automates contract creation, execution, and verification, enhancing transparency and reducing fraud risks. Their digital onboarding solution uses advanced biometric authentication, OCR, and liveness detection to streamline KYC and AML processes, making identity verification swift and accurate. Signzy’s solutions are trusted across banking, insurance, and e-commerce sectors for their robust fraud detection and prevention systems (Inventiva).

2. Primechain Technologies

Attribute	Details
Name	Primechain Technologies
Founded	2016
Key Features	Blockchain-based real-time auditing, data verification, information sharing
Industry Focus	Finance, Healthcare, Government
Notable Achievements	Pioneers in blockchain technology for compliance solutions
Website	Primechain Technologies

Primechain Technologies-Top 10 RegTech Startups in india

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Primechain Technologies leverages blockchain technology to enhance regulatory processes. Their solutions offer real-time auditing, data verification, and seamless information sharing, ensuring compliance without compromise. Primechain’s KYC and AML solutions use advanced data analytics and machine learning to identify and mitigate risks efficiently. Recognized for their innovative contributions, Primechain serves various industries including finance, healthcare, and government (Inventiva).

3. Tookitaki

Attribute	Details
Name	Tookitaki
Founded	2014
Key Features	AI-driven compliance, AML, fraud detection, transaction monitoring
Industry Focus	Finance, Banking
Notable Achievements	Awarded for innovation in regulatory technology
Website	Tookitaki

Tookitaki-Top 10 RegTech Startups in india

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Tookitaki provides AI-driven compliance solutions that automate regulatory processes to reduce operational costs and eliminate human errors. Their platform’s self-learning algorithms adapt to changing regulations, ensuring continuous compliance. Tookitaki’s suite includes AML, fraud detection, and transaction monitoring tools, primarily serving the finance and banking sectors. The company is known for its innovative approach and has received significant industry accolades (Inventiva).

4. CustomerXPs

Attribute	Details
Name	CustomerXPs
Founded	2006
Key Features	Real-time behavioral analytics, fraud detection, AML, customer due diligence
Industry Focus	Banking, Financial Services
Notable Achievements	Known for their innovative Clari5 platform for real-time analytics
Website	CustomerXPs

CustomerXPs-Top 10 RegTech Startups in india

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CustomerXPs’ Clari5 platform uses real-time behavioral analytics powered by AI to detect and prevent fraud. Their solutions for AML, customer due diligence, and fraud detection provide end-to-end visibility and actionable insights, enhancing compliance and decision-making. CustomerXPs is committed to continuous innovation, keeping their clients ahead of regulatory changes (Inventiva).

5. IDfy

Attribute	Details
Name	IDfy
Founded	2011
Key Features	Identity verification, video KYC, face validation, compliance automation
Industry Focus	Various sectors including Finance, Insurance, and E-commerce
Notable Achievements	Pioneers in digital identity verification solutions
Website	IDfy

IDfy-Top 10 RegTech Startups in india

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IDfy offers comprehensive solutions for customer, employee, and partner verifications, including KYC, AML, and GDPR compliance. Their platform uses AI and data science to provide identity authentication, video KYC, and face validation services. IDfy’s solutions are designed to streamline onboarding and compliance processes for various businesses, ensuring regulatory adherence with minimal manual intervention (Inventiva) (Inventiva).

6. Cappitech

Attribute	Details
Name	Cappitech
Founded	2013
Key Features	Automated regulatory reporting, transaction reporting, best execution analysis, business intelligence
Industry Focus	Financial Services
Notable Achievements	Acquired by S&P Global, leading provider of compliance solutions
Website	Cappitech

Cappitech-Top 10 RegTech Startups in india

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Cappitech specializes in automating regulatory reporting for financial services. Their platform integrates transaction reporting, best execution analysis, and business intelligence, making compliance processes thorough and accurate. Acquired by S&P Global, Cappitech continues to enhance its solutions to meet evolving regulatory demands, providing clients with comprehensive compliance support (Inventiva).

7. FinChat

Attribute	Details
Name	FinChat
Founded	2015
Key Features	Compliance monitoring, instant message recording, audit trails
Industry Focus	Banking, Financial Services
Notable Achievements	Ensures compliance for businesses using popular messaging apps
Website	FinChat

FinChat-Top 10 RegTech Startups in india

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FinChat’s compliance monitoring software records business-related instant messages and stores them on corporate servers for audit trails, dispute resolution, and fraud investigations. This solution ensures that companies using popular messaging apps remain compliant with regulatory requirements, preventing fines for unrecorded communications (Inventiva).

8. Enforcd

Attribute	Details
Name	Enforcd
Founded	2016
Key Features	Global enforcement database, regulatory trend analysis, compliance error avoidance
Industry Focus	Various sectors requiring regulatory compliance
Notable Achievements	Trusted for its comprehensive regulatory compliance resources
Website	Enforcd

Enforcd-Top 10 RegTech Startups in india

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Enforcd provides a global enforcement database to help businesses comply with international regulatory standards. Their platform analyzes governmental actions against companies, studies regulatory trends, and helps businesses avoid compliance errors by learning from others’ mistakes. Enforcd is a valuable resource for global regulatory compliance (Inventiva).

9. KyoLAB

Attribute	Details
Name	KyoLAB
Founded	2016
Key Features	Mobile messaging compliance, data archiving, real-time analytics
Industry Focus	Corporate environments, BYOD
Notable Achievements	Leading provider of mobile compliance solutions
Website	KyoLAB

KyoLAB-Top 10 RegTech Startups in india

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KyoLAB focuses on mobile compliance, offering solutions to monitor and archive data from messaging services like WhatsApp and WeChat. Their real-time analytics provide insights into customer interactions and ensure compliance through comprehensive mobile device management. KyoLAB’s solutions support both corporate and BYOD environments (Inventiva).

10. Amareos

Attribute	Details
Name	Amareos
Founded	2015
Key Features	Information monitoring, social media analysis, financial market heat-maps
Industry Focus	Financial Markets, Investment
Notable Achievements	Innovative use of social media and news feeds for regulatory compliance
Website	Amareos

Amareos-Top 10 RegTech Startups in india

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Amareos uses advanced technology to monitor and analyze vast amounts of information from social media and news feeds. Their heat-maps and dashboards help users make informed decisions by visualizing patterns and linkages in financial markets. Amareos simplifies the information overload, making regulatory compliance more manageable (Inventiva).

These startups are at the forefront of the RegTech revolution in India, offering innovative solutions to streamline compliance and risk management across various industries.

FAQs on RegTech Startups in India

Q1: What is RegTech? A1: RegTech, short for Regulatory Technology, refers to the use of technology to help businesses comply with regulations efficiently and cost-effectively. It encompasses a wide range of solutions, including AI, blockchain, big data analytics, and machine learning, to automate compliance processes, enhance risk management, and ensure regulatory adherence.

Q2: Why is RegTech important in India? A2: RegTech is crucial in India due to the complex regulatory environment overseen by multiple regulators like RBI, SEBI, and IRDAI. The dynamic and often stringent regulations require businesses to stay compliant to avoid hefty fines and operational inefficiencies. RegTech solutions provide the agility and automation needed to adapt quickly to regulatory changes, reduce compliance costs, and improve overall efficiency (PTPFC).

Q3: What are some key benefits of RegTech solutions? A3: Key benefits of RegTech solutions include:

Automation of Compliance Processes: Reduces manual effort and errors.
Real-Time Monitoring: Enhances fraud detection and risk management.
Cost Efficiency: Lowers compliance costs by streamlining processes.
Regulatory Intelligence: Provides up-to-date information on regulatory changes.
Data Security: Uses technologies like blockchain to secure sensitive data (Inventiva) (PTPFC).

Q4: Who are some of the leading RegTech startups in India? A4: Some leading RegTech startups in India include:

Signzy: Specializes in digital KYC and documentation.
Tookitaki: Focuses on AML and fraud prevention.
CustomerXPs: Provides behavioral analytics for compliance.
IntelleWings: Offers transaction monitoring and surveillance.
Gieom: Manages regulatory change and compliance tasks (Inventiva) (Enterprise League) (PTPFC).

Q5: How does Signzy help with compliance? A5: Signzy uses AI and blockchain to offer solutions like digital KYC, smart contracts, and biometric authentication. Their technology enables paperless compliance processes, reducing the time and cost associated with traditional compliance methods. Major clients include Reliance, HDFC, and Kotak Mahindra (PTPFC).

Q6: What role does AI play in RegTech solutions? A6: AI plays a critical role in RegTech by:

Automating Routine Tasks: Such as data entry and report generation.
Enhancing Decision Making: Through predictive analytics and risk assessment.
Detecting Anomalies: In transaction patterns for fraud prevention.
Improving Customer Onboarding: With instant KYC verification and background checks (Inventiva) (PTPFC).

Q7: How does Tookitaki contribute to AML compliance? A7: Tookitaki leverages AI and machine learning to automate AML workflows. Their platform can adapt to evolving regulatory requirements, ensuring continuous compliance. It helps financial institutions detect and prevent money laundering activities more effectively than traditional methods (Inventiva).

Q8: What challenges do RegTech startups in India face? A8: Some challenges include:

Integration with Legacy Systems: Difficulty in integrating advanced solutions with existing IT infrastructure.
Security Concerns: Financial firms are cautious about data privacy and cybersecurity risks.
Talent Shortage: Lack of professionals skilled in both regulatory compliance and technology.
Regulatory Uncertainty: Frequent changes in regulations can make businesses hesitant to invest in new technologies.
Awareness and Adoption: Many companies are still unaware of the potential benefits of RegTech solutions (PTPFC).

Q9: How can RegTech startups help reduce compliance costs? A9: RegTech startups help reduce compliance costs by:

Streamlining Compliance Processes: Automation reduces the need for extensive manual labor.
Real-Time Monitoring: Detects issues early, preventing costly fines.
Efficient Data Management: Reduces errors and speeds up compliance reporting.
Scalable Solutions: Allows companies to handle increasing regulatory demands without proportional increases in costs (Inventiva) (PTPFC).

Q10: What is the future outlook for RegTech in India? A10: The future of RegTech in India looks promising, with increasing investments from venture capital firms and proactive engagement from major financial institutions. Government initiatives like Digital India and Startup India are also fostering a supportive environment for RegTech innovation. As regulatory frameworks become more complex, the demand for advanced compliance solutions is expected to grow, positioning India as a significant player in the global RegTech market (PTPFC).

1. Signzy

FAQs

Q: What services does Signzy provide?
A: Signzy offers AI-powered digital onboarding, biometric authentication, and smart contract automation, focusing on enhancing KYC (Know Your Customer) and AML (Anti-Money Laundering) processes.

Q: Who are Signzy’s major clients?
A: Major clients include Reliance, HDFC, and Kotak Mahindra (Inventiva) (PTPFC).

Q: How does Signzy’s AI technology improve compliance?
A: Signzy’s AI technology automates the verification of documents, biometrics, and smart contracts, reducing human error and speeding up compliance processes.

Q: Has Signzy raised any funding?
A: Yes, Signzy raised $5.4 million in Series A funding from Arkam Ventures and Mastercard in 2019 (PTPFC).

2. Primechain Technologies

FAQs

Q: What is the focus area of Primechain Technologies?
A: Primechain Technologies focuses on blockchain solutions for security and transparency in regulatory processes.

Q: Which industries does Primechain Technologies cater to?
A: They cater to finance, healthcare, and government sectors (Inventiva).

Q: What are some key features of Primechain’s blockchain solutions?
A: Real-time auditing, data verification, and seamless information sharing are key features.

3. Tookitaki

FAQs

Q: What does Tookitaki specialize in?
A: Tookitaki specializes in automating compliance workflows for AML and fraud prevention using AI and machine learning.

Q: How do Tookitaki’s algorithms work?
A: Their self-learning algorithms adapt to changing regulations, reducing operational costs and human errors.

Q: What recognition has Tookitaki received?
A: Tookitaki has received significant acclaim for its innovative RegTech solutions (Inventiva) (PTPFC).

4. CustomerXPs

FAQs

Q: What is Clari5 by CustomerXPs?
A: Clari5 is a real-time AI-powered behavioral analytics platform for AML, customer due diligence, and fraud detection.

Q: How does Clari5 benefit businesses?
A: It provides actionable insights to enhance compliance and risk management (Inventiva).

5. Net Vigil Software

FAQs

Q: What solutions does Net Vigil Software offer?
A: They offer a compliance management platform that integrates with existing systems to track and manage compliance processes.

Q: What industries use Net Vigil Software’s solutions?
A: Their solutions are used across various regulated industries needing compliance management (Inventiva).

6. Razorpay

FAQs

Q: What RegTech solutions does Razorpay provide?
A: Razorpay offers automated reconciliation and regulatory reporting solutions.

Q: What is Razorpay’s compliance dashboard?
A: It consolidates relevant data and generates comprehensive reports to meet compliance obligations effortlessly (Inventiva).

7. IntelleWings

FAQs

Q: What services does IntelleWings provide?
A: IntelleWings offers an analytics platform for transaction monitoring and surveillance to detect fraud and compliance violations.

Q: Who are IntelleWings’ major customers?
A: Major customers include Max Life Insurance, RBL Bank, and Karur Vysya Bank (PTPFC).

Q: Has IntelleWings raised any funding?
A: Yes, IntelleWings raised $2 million in Series A funding in 2018 (PTPFC).

8. Gieom

FAQs

Q: What does Gieom specialize in?
A: Gieom specializes in real-time regulatory change management, compliance task tracking, and audit support.

Q: Which major companies use Gieom’s platform?
A: Companies like Wipro, Infosys, and TCS use Gieom’s platform (PTPFC).

Q: Has Gieom raised any funding?
A: Gieom raised an undisclosed amount from Blume Ventures in 2017 (PTPFC).

9. TRM

FAQs

Q: What are TRM’s core offerings?
A: TRM provides tools for ID verification, transaction monitoring, fraud screening, and reporting automation.

Q: Who benefits from TRM’s solutions?
A: Crypto businesses use TRM’s platform to operate responsibly and comply with regulations (Enterprise League).

10. Spring Labs

FAQs

Q: What does Spring Labs offer?
A: Spring Labs offers a decentralized network for secure data sharing and accurate underwriting.

Q: What industries use Spring Labs’ platform?
A: The platform is used in banking and healthcare for fraud detection and secure transactions (Enterprise League).

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