A few years ago, Regulation Technology was just getting its feet wet on the startup scene. Now, it’s swimming in the deep end. In June, FinTech City selected Governance.com for its annual FinTech 50 list.
(Photo Credit: Bert & Rob Boerman, co-founders of Governance.com / Image Credit © Governance.com)
This a roaring achievement for Governance.com Luxembourg’s own RegTech and winner of the country’s FinTech of the Year in 2016. The competition was fierce with over 1800 companies in the running and a global panel of industry experts digging deep into the nooks and crannies to figure out just which companies were most innovative this year.
The panel included Markus Ferber, 1st Vice Chairman at the European Parliament Economic and Monetary Affairs Committee, Nasir Zubairi, CEO at the Luxembourg House of Financial Technology (LHoFT), and Ruth Wandhöfer, Managing Director/Global Head of Regulatory & Market Strategy at Citi, among others.
All the better for Governance.com, who can now boast unequivocal merit for being on the list.
“We welcomed 10 new clients in the past 6 months, including two Tier-1 banks and leading US and European Asset managers. And the interest continues to accelerate.”
What exactly is Governance.com?
Despite its two accolades as a FinTech, Governance.com self-identifies as a RegTech, which means it helps regulated companies manage their data, documents, and processes so that these companies comply with all applicable regulations.
The company does two things: 1. complete data, document and process management, and 2. support and advisory. Think about it like this:
- If you’re a regulated company, information mismanagement can lead to fines, sanctions, liability, or poor reputation;
- Loose spreadsheets and documents, as well as uncoordinated and unsecure email exchange are often the source of information mismanagement;
- com provides complete, simple information management for either local or cloud storage so you don’t have to worry about missing something;
- They also connect you to a network of experts to help you reorganize processes where needed.
If you’re more of a visual learner, check out this link here: https://player.vimeo.com/video/241664639
As someone once said, Governance.com makes “the complicated stuff not so complicated.”
OK, I’m quoting myself, but this is true of Governance.com.
What does this award mean for Governance.com?
Bert Boerman, CEO and co-founder at Governance.com, expressed the internal enthusiasm quite well, saying, “We are ecstatic to have been selected for The FinTech50. It’s a huge endorsement for our efforts to help financial institutions simplify their regulatory oversight. The inclusion of multiple RegTech companies in this leading list reflects the growing interest of the industry that we have witnessed in the last year. We welcomed 10 new clients in the past 6 months, including two Tier-1 banks and leading US and European Asset managers. And the interest continues to accelerate.”
“We started building the platform in 2014, well before RegTech became the well-known category it is today. Our early start taught us exactly what our clients require to regain control.”
Cool service, but how’s your client-base?
First and foremost, FinTech City selects winners based on innovation, not revenue. That said, significant clientele does a lot for outsiders’ understanding who may not know as much about the industry.
In the end, RegTech’s are only as useful as their clients are willing to pay. Indeed, Regulations are not the sort of business endeavor that multi-million-dollar firms and banks are willing to experiment with (usually, I hope, for all of our sakes).
Governance.com clearly understands this, resulting in the announcement of five major client wins from tier-one banks and US and EU Asset Managers in the past few months alone.
This means that in just four years of existence, Governance.com has proven itself useful for major regulated companies at an international scale.
CTO and co-founder Rob Boerman explained that he and Bert “started building the platform in 2014, well before RegTech became the well-known category it is today. Our early start taught us exactly what our clients require to regain control. We built a completely flexible platform that we can deploy instantly on any infrastructure for any size client in any industry. To help our clients even further we also built a network of experts around us that can help ensure that our clients’ processes are well designed and managed. The new brand underlines this end-to-end focus.”
So, in a sense, this award is one more step for Governance.com, and one huge leap for regulation technology as a subindustry writ large.