Detected ranks in top three of RegTech 50 list
London, 31st October 2022: Detected, the London-based fintech that provides frictionless global business onboarding, ranks as top three in BusinessCloud’s 2022 RegTech 50 list.
The RegTech 50 list ranks the UK’s most original technology for regulation, compliance and fraud detection.
Detected, which was founded by Liam Chennells in July 2020, employs a unique algorithm which utilises over 1,700 data sources to create a detailed and accurate profile of any business in the world, enabling a frictionless, almost instant, onboarding process that is also KYB compliant.
This year is the second edition of BusinessCloud’s annual RegTech list, and 82 companies were shortlisted for potential inclusion. The final results were decided by a combination of over 600 reader votes and selections from an independent judging panel, formed by:
- Anna Korzeniowska, Head of Experience & Acting FinTech Lead, Tech Nation
- Helene Panzarino, Associate Director, Centre for Digital Banking and Finance
- Andy Thornley, Head of Financial Services, techUK
- Jason Boud & Sian Lewin, Co-Founders, RegTech Associates
- Jonathan Symcox, Editor, BusinessCloud
Using Detected, a new business customer can find their company, complete ID verification and upload the necessary documents in under two minutes. Testament to its success, Detected has already partnered with payments giant, Visa, to speed up its B2B onboarding, and has raised a total of £3.5 million since its founding.
Liam Chennells, Chief Executive Officer at Detected, comments:
“As our first year on the list, it’s great to see Detected bolting straight into the RegTech 50 at number three – a fantastic credit to our team and the work we are delivering. We are exceptionally proud that Detected’s innovation continues to be recognised, and we’re excited to continue the journey in revolutionising business onboarding by reducing friction and time-taken in the onboarding process.”
Jonathan Symcox, Editor, BusinessCloud, comments:
“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 on to the RegTech 50 is to be commended for providing innovative solutions in this most crucial of areas. It is no surprise to see Detected feature so highly - we will continue to follow their journey with interest.”
Mondu, the fast-growing B2B payments company, has signed with Detected to automate its merchant onboarding process. As Mondu continues to expand across Europe, having strong foundations in place for its merchant onboarding will aid its growth while also providing a better experience for Mondu’s business customers.