8th December 2022
The UK RegTech50 is an annual list of 50 of Britain’s most leading-edge RegTech companies. The annual ranking celebrates the UK’s most innovative startups, scaleups and established firms creating original technology for regulation, compliance and fraud protection.
London, 8th December 2022: Financial Crime Intelligence startup Schwarzthal Tech ranked 2nd in BusinessCloud’s UK RegTech 50 as one of the most innovative British solution providers for financial services firms. The UK RegTech 50 recognises the UK’s most innovative startups, scaleups and established firms creating original technology for regulation, compliance and fraud protection.
“Our rankings celebrate technology innovators of all sizes, from early-stage businesses to established players. FinTech, InsurTech and RegTech are massively important sectors in the UK's technology landscape and narrowing the shortlists down to 50 businesses in each - with the help of our expert judges - is a challenge. Every business which made it onto the RegTech 50 is to be commended for providing innovative solutions in this most crucial of areas. We have heard good things about Schwarzthal Tech and its platform for democratising the fight against financial crime - no wonder it made No.2 on the ranking! We will follow their journey with interest," said BusinessCloud editor Jonathan Symcox.
Schwarzthal Tech is the innovative London-based RegTech & FinTech startup behind AI-driven financial crime intelligence platform Wunderschild KYN™. Schwarzthal Tech aims to revolutionise the way compliance works in the financial sector by bringing a paradigm shift from the traditional KYC towards a new concept: Know Your Network™.
Schwarzthal Tech’s technology is being used at financial services institutions, crypto/DeFi businesses and corporate customers for 1st, 2nd and 3rd level defence of KYC/KYB in onboarding and ongoing complex financial crime investigations. Schwarzthal Tech helps to identify bad actors, criminal networks, insolvencies, charges, disqualified directors, politically exposed persons, adverse media and also monitor transactions in real-time or near real-time. Using cached data, Schwarzthal Tech’s data set includes past and present data, with a time travel scroll bar, that allows the user to view exactly how each corporate entity and person(s) connection(s) looked at the desired moment in time.
“We aim to disrupt the KYC paradigm by democratising the fight against financial crime. Wunderschild Know Your Network ™ provides one platform that covers both Investment Risk and Compliance Risk with advanced corporate network exploration, looking for Mr Smith in the Matrix,” said Marius-Cristian Frunza, CEO and founder of Schwarzthal Tech.
This is the first year Schwarzthal Tech has made the prestigious list. “We’re delighted and honoured to be featured and ranked 2nd in the UK RegTech 50 list,” said Frunza. “The financial sector is among the primary targets of money laundering and bribery attacks; this recognition demonstrates the continued importance of our solution in the fight against financial crime. We are focused on constantly improving our product’s capabilities to match the threat landscape and helping financial institutions enhance their AML and KYN resilience.”
Schwarzthal Tech is the brainchild of Marius-Cristian Frunza, renowned expert and author of various books on the topic, including: Introduction to the Theories and Varieties of Modern Crime in Financial Markets, Solving Modern Crime in Financial Markets, Value Added Tax Fraud). Marius-Cristian played a key advisory role during the production of Netflix documentary Lords of Scam (2021) - about the rise and fall of scammers who defrauded the EU carbon quota system and made millions in the process -, where he is also interviewed as a financial crime expert. Marius-Cristian came up with the idea for Schwarzthal Tech after witnessing first-hand how organised crime networks infiltrated and abused the carbon emissions market in the 2000s, as a result of which tens of billions of dollars fell into the hands of transnational organised crime.
Schwarzthal Tech is planning an upcoming funding round.
A full list of the UK RegTech 50 and detailed information about each company is available.
About BusinessCloud
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About Schwarzthal Tech
Founded in 2019 and headquartered in London with offices in London, Europe and CEE. Schwarzthal Tech aims to revolutionise the way compliance works in the financial sector by bringing a paradigm shift from the traditional KYC towards a new concept: Know Your Network™.
Schwarzthal Tech is supported and backed by the multi-award-winning SFC Capital, the largest startup fund in the UK, the Mayor of London, London & Partners and accelerated by Startupbootcamp, the leading global accelerator in FinTech innovations.