Top 10 RegTech Startups in India

Regulatory Technology, commonly known as RegTech, has emerged as a critical component in the financial services industry, especially in a country like India, where regulatory frameworks are evolving rapidly. RegTech startups leverage technology to help businesses comply with regulations efficiently and cost-effectively. Here, we explore the top 10 RegTech startups in India that are making significant strides in this domain.

1. Signzy

Attribute	Details
Founders	Ankit Ratan, Arpit Ratan, Ankur Pandey
Founded	2015
Location	Bengaluru, Karnataka
Website	signzy.com
Specialization	Digital onboarding, KYC/AML compliance, AI, Blockchain
Key Features	Biometric authentication, fraud detection, regulatory reporting

Signzy

Signzy is revolutionizing the banking and financial services industry with its digital onboarding solutions. By combining AI, blockchain, and biometrics, Signzy offers a seamless and secure way to verify identities and ensure compliance with regulatory requirements. Their solutions help banks and financial institutions reduce fraud and enhance customer experience.

2. Fintellix (Clari5)

Attribute	Details
Founders	Vivek Subramanyam
Founded	2006
Location	Bengaluru, Karnataka
Website	fintellix.com
Specialization	Risk management, compliance, analytics
Key Features	Regulatory reporting, risk assessment, financial crime management

Fintellix

Fintellix, a Clari5 company, specializes in risk, compliance, and analytics solutions for banks and financial institutions. Their regulatory compliance platform automates and streamlines the process of adhering to complex regulatory requirements, including those related to risk management, financial crime, and reporting.

3. NSEIT

Attribute	Details
Founders	Subsidiary of National Stock Exchange of India
Founded	1999
Location	Mumbai, Maharashtra
Website	nseit.com
Specialization	Compliance management, risk assessment, regulatory reporting
Key Features	Automated compliance processes, risk analytics, secure IT infrastructure

NSEIT, a subsidiary of the National Stock Exchange of India, provides a comprehensive suite of RegTech solutions designed to address the needs of the financial services industry. Their offerings include compliance management, risk assessment, and regulatory reporting, helping firms navigate the regulatory landscape with ease.

4. Cognext

Attribute	Details
Founders	Rajesh Shewani, Ramesh Shewani, Pooja Shewani
Founded	2016
Location	Mumbai, Maharashtra
Website	cognext.ai
Specialization	Regulatory reporting, risk management, compliance automation
Key Features	Advanced analytics, machine learning, real-time compliance updates

Cognext is focused on providing innovative solutions for regulatory reporting, risk management, and compliance. Their platforms leverage advanced analytics and machine learning to help financial institutions automate regulatory processes, reduce operational risks, and ensure timely compliance with regulations.

5. IDfy

Attribute	Details
Founders	Ashok Hariharan, Rajesh Mirjankar, Venkat Raju
Founded	2011
Location	Mumbai, Maharashtra
Website	idfy.com
Specialization	Identity verification, KYC/AML compliance
Key Features	AI-based verification, fraud prevention, real-time authentication

IDfy offers a wide range of identity verification and authentication services, making it easier for businesses to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. Their solutions use AI and machine learning to provide real-time, accurate verification, reducing fraud and enhancing security.

6. Perfios

Attribute	Details
Founders	V R Govindarajan, Debasish Chakraborty
Founded	2008
Location	Bengaluru, Karnataka
Website	perfios.com
Specialization	Data aggregation, financial analysis, compliance management
Key Features	Data enrichment, automated financial reporting, risk assessment

Perfios specializes in data aggregation and analysis, providing tools that help financial institutions manage their compliance obligations more effectively. Their solutions facilitate the extraction, enrichment, and analysis of financial data, enabling better decision-making and ensuring adherence to regulatory standards.

7. Simpliance

Attribute	Details
Founders	Amitabh Sinha
Founded	2015
Location	Bengaluru, Karnataka
Website	simpliance.in
Specialization	Compliance management, labor law compliance
Key Features	Cloud-based platform, automated compliance tracking, regulatory updates

Perfios specializes in data aggregation and analysis, providing tools that help financial institutions manage their compliance obligations more effectively. Their solutions facilitate the extraction, enrichment, and analysis of financial data, enabling better decision-making and ensuring adherence to regulatory standards.

8. Riskcovry

Attribute	Details
Founders	Alok Tiwari, Raghavendra Kashyap, Anand Vidyashankar, Nitin Malhotra
Founded	2018
Location	Mumbai, Maharashtra
Website	riskcovry.com
Specialization	Insurtech, regulatory compliance for insurance
Key Features	Integrated compliance tools, automated KYC/AML, regulatory reporting

Riskcovry is an insurtech startup that also offers robust RegTech solutions. They provide a platform that integrates insurance products with regulatory compliance tools, enabling insurers and brokers to manage regulatory requirements seamlessly while offering their services.

9. Finbox

Attribute	Details
Founders	Rajat Deshpande, Alok Mittal
Founded	2015
Location	Bengaluru, Karnataka
Website	finbox.in
Specialization	Credit assessment, risk management, compliance automation
Key Features	Big data analytics, machine learning, predictive analytics

Finbox provides a comprehensive suite of financial and regulatory technology solutions, including credit assessment, risk management, and compliance automation. Their platform leverages big data and machine learning to offer predictive analytics and ensure that financial institutions remain compliant with regulatory norms.

10. Lendbox

Attribute	Details
Founders	Gautam Bhargava, Vikas Mehta
Founded	2015
Location	New Delhhttps://businessmax.in/tag/new-delhi/i
Website	lendbox.in
Specialization	P2P lending, KYC/AML compliance, risk assessment
Key Features	Automated KYC, secure lending platform, compliance reporting

Lendbox is a peer-to-peer (P2P) lending platform that incorporates RegTech solutions to ensure compliance with regulatory requirements. Their platform offers automated KYC and AML checks, risk assessment, and compliance reporting, providing a secure and compliant environment for borrowers and lenders.

Conclusion

The RegTech landscape in India is rapidly evolving, with numerous startups developing innovative solutions to help businesses navigate the complex regulatory environment. These top 10 RegTech startups are leading the way by leveraging advanced technologies such as AI, blockchain, and machine learning to provide efficient, cost-effective, and secure compliance solutions. As the regulatory frameworks continue to evolve, these startups will play a crucial role in ensuring that businesses can adapt and thrive in a compliant manner.

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