Singapore, 1 June 2023 – Regulation Asia hosted the inaugural Pitch! Regtech event on Thursday 25 May at the Stamford Swisshotel in Singapore, attended by over 300 financial market participants.
The innovative event format invited regtechs from all over the world to enter their solutions into the competition, which kickstarted in early 2023. Over 40 companies entered from countries ranging from the US, UK, Europe, Middle East, Australia and China. Of the firms entering, Regulation Asia selected 15 firms to appear at the one day exclusive event.
Pitches were divided into categories including Fraud & Financial Crime, Risk Data & Reporting, and ESG & Sustainability.
After a day of pitching which saw firms on stage for 7 minutes, followed by questions from an esteemed section of judges for 5 minutes. The final decisions were announced during an awards ceremony at the venue during an after-event drinks reception.
Firms which entered the competition included: Aboitiz Data Innovation, Adenza, Cloudwall, Encompass, Facctum, FTI Consulting, HAWK:AI, ICE Data Services, Identitii, LexisNexis Risk Solutions, Morningstar Sustainalytics, MyComplianceOffice, Rimm Sustainability, Synpulse, and Verint.
Judges were asked to confer after the sessions concluded and had complete autonomy on the decision-making process, with many of them using criteria such as quality of presentation, product/market fit and how innovative the solutions were.
- Aboitiz Data Innovation, a data and artificial intelligence provider within banking & financial services, was recognised as winner of the first group within Fraud & Financial Crime for its mule detection solution. Judges pointed to a robust product-market fit, alongside the solution’s ability to solve issues around mule detection innovatively, ahead of its competitors. Judges also remarked that whilst larger banks would be able to build such solutions internally, for small and mid-size firms this service was a genuinely competitive offering.
- HAWK:AI, which leverages artificial intelligence to provide payment screening and transaction monitoring services to financial institutions, was recognised as winner of the second group within Fraud & Financial Crime. The judges highlighted a strong use case, a good UX, and a particular focus on reducing frictions in the alert review process. A high point of the demonstration was the solution’s auto-closure feature, which help firms avoid having to review similar alerts multiple times.
- Synpulse, a global management consulting firm that were showcasing its digital transformation unit Synpulse 8, was recognised as winner of the Risk, Data & Reporting category. Judges were impressed with how the Pulse8 Risk Supervisory Framework covered multiple use cases and the clear way in which the solution was presented. They highlighted the solution’s unique approach to the use of machine learning, and the firm’s clear understanding of the domain they were operating in.
- Rimm Sustainability, a provider of end-to-end sustainability tools, was recognised as winner of the ESG & Sustainability category. The judges were impressed by the firm’s myCSO platform, which provides a holistic and comprehensive view of the different parts of the financial ecosystem. They also highlighted the firm’s goal of democratising access to sustainability solutions with focus on the SME market as a powerful way to increase inclusiveness in assessments and reporting.
Regulation Asia wishes to offer our sincere thanks to our judges for their time, dedication and hard work throughout the judging process.
The judges included: Helene Li, Boon-Hiong Chan, Pauline Wray, James Cheo, Manoj Ranavaya, Luca Zorzino, Laurence Van Der Loo, CG Balasubramaniam, Justin Ong, Julian Fenwick, Kenneth Bok, Shadab Taiyabi, Niraj Marfatia, Ave King, Anthony Hope, Sarthaka Nanda and Kalpana Seethepali.
Regulation Asia is honoured to have hosted such an industry defining event, and helping to foster stronger engagement and dialogue across the industry. We would like to thank all firms, judges and delegates that participated.
For further information on the Pitch! Regtech event please contact:
+65 8124 2511