A seasonal quiz.....[EDIT 5 January 2025 --- "and the results are in". It makes grim reading ]

How correlated are the risers and fallers in the RegTech 50 from 2023 to 2024 with their own Companies Act Compliance? 

How many are peddling snake-oil like Quantexa?

There are some truly dire examples of late filed (to hide funding problems) Share Allotments and even lots of those had to be later corrected, and subsequent and ongoing requests to delay filing accounts for 3 months that is always the portent of problems.

But then what can you expect when one of the RegTech Judges, Chris Steele of KPMG, is one of the more than 500 tax scammers declared to ICAEW as being a member of KPMG when he is not an owner of any part of KPMG. Mind you when KPMG admit "steele"ing" more than £300,000 Trust monies what can you expect!

You shouldn't need me to provide URL links to Register of Statutory Auditors and Companies House.


Anyway here is the list - perhaps some of the snake-oil pedlars can use their own software to answer the question before 12th night after which the worst offenders will be named and shamed.

  1. “Welcome to BusinessCloud’s RegTech 50 ranking for 2023.”

    1. Position in 2024

  2.   Detected                                                                       

  3.   CheckedSafe                                 5

  4.   Elliptic                                         8                            

  5.   TAINA Technology                   10

  6.   Nivo                                             6

  7.   Cleverchain                                 3

  8.   Recordsure                                23

  9.   FundApps                                  45

  10.   Algodynamix                             14

  11.   Kalgera

  12.   Ravelin                                       13

  13.   Onfido                                        26

  14.   ComplyAdvantage                      9

  15.   Encompass                                 44

  16.   Autorek

  17.   SmartSearch                              48

  18.   Umazi

  19.   Worksmart

  20.   Xapien                                         37

  21.   Konfir                                          19

  22.   ClearScore

  23.   Featurespace

  24.   Novatus                                       50

  25.   SteelEye                                      34

  26.   TrackMyRisks

  27.   Napier.                                        22

  28.   Pelican AI                                  39

  29.   Quantexa                                   27

  30.   iProov                                        35

  31.   Qomply

  32.   W2 Global Data

  33.   Ruleguard                                 39

  34.   Suade Labs                               32

  35.   CoVi Analytics                         31

  36.   CUBE                                         1

  37.   Nuggets                                     17

  38.   AuditComply                           21

  39.   ComplyPortal

  40.   Surety

  41.   FeedStock

  42.   Cambridge Intelligence          40

  43.   Kaizen Reporting                    29

  44.   Autologyx                                 24

  45.   Credit Benchmark

  46.   OpusDatum                             41

  47.   PassFort

  48.   Global Screening Services     49

  49.   Armalytix                                20

  50.   Proxymity

  51.   Rossum

Tie-break question: How many have Listed VCTs as investors?


AND NOW FOR THE RESULTS

"..if they can't make simple timely and accurate company law filings, what chance does their Software Coding have.."

  1.   Detected               Careless: Endless refilings to correct simple errors

  2.   CheckedSafe        Good: Parent company multiple late filings

  3.   Elliptic                 Dire: Albion & Octopus VCTs owned                

  4.   TAINA Technology Was Bad, now Good: New Co. Sec appointed.

  5.   Nivo                       Good:

  1.   Cleverchain           Some very late filings, otherwise Good.

  1.   Recordsure           Excellent

  1.   FundApps            Careless. Amended and refiled accounts.

  2.   Algodynamix        How is this in the list? The wonders of Crypto. 2 employees and completely Insolvent per a/cs. Less than £20k in assets.

  3.   Kalgera                Careless: Multiple late filings.

  4.   Ravelin                Excellent: Except for termination/appointment of Directors 4 months late.

  5.   Onfido                Good: Some carelessness meant amended filings.

  6.   ComplyAdvantage N/A:  Non-UK

  1.   Encompass          Appalling: Doesn't seem to understand legal deadlines exist.

  2.   Autorek               Good: Better since new Co. Sec in December 2021

  3.   SmartSearch       Was Excellent: BUT now Bad if https://www.triple.pe/portfolio-smartsearch is true. No PSC disclosed.

  4.   Umazi                  Appalling: Endlessly late and incorrect. Sole Director, no Co Sec.

  5.   Worksmart         Excellent: Parent company: historically sloppy

  6.   Xapien                Excellent: YFM managed VC                              

  7.   Konfir                Excellent: With one notable exception

  8.   ClearScore        Excellent:

  9.  Featurespace    Appalling: Worse than Quantexa but doesn’t lie. Now Excellent as sold to Visa Inc who have sorted it.

  10.   Novatus          Good. Occasional couple of days late filings.

  11.   SteelEye         Good. Occasional couple of days late filings and simple inaccuracies.

  12.   TrackMyRisks   Excellent

  13.   Napier.             Excellent

  14.   Pelican AI       Dire: Parth Desai seems incapable of filing ontime. Accounts overdue again!

  15.   Quantexa      THE WORST. Endless lies in accounts and fails to disclose Directors and doesn’t know how to file anything on time.

  16.   Iproov           Poor. Late and incorrect filings

  17.  Qomply        Exemplary. How it should be done.

  18.  W2 Global Data      Very Good, but forgot the company had been sold

  19.  Ruleguard       Good. Minor late filings. More than can be said for it’s Foresight Enterprise VCT investor record!

  20.   Suade Labs     Very Good. Parent company could do better.         

  21.   CoVi Analytics     Bad.

  22.   CUBE        Very good. One or two out of time.

  23.   Nuggets     Very poor. Multiple late and errors.

  24.   AuditComply    Currently good, previously Appalling.

  25. ComplyPortal       Good. Parent company Dreadful

  26.   Surety          Very Good. Only 1 lapse.

  27.   FeedStock     Now Good. Past lapses.

  28.   Cambridge Intelligence   Very Good. But for Late filing of resolutions.

  29.   Kaizen Reporting     Very Good.

  30.   Autologyx        Very Good.

  31.   Credit Benchmark       Poor. Multiple very late filings.

  32.   OpusDatum        Would be Exemplary if not for one recent late filing.

  33.   PassFort              Very Poor. Owned by Moody’s!

  34.   Global Screening Services      Goodish. Many late filings by it and parent.

  35.   Armalytix       Goodish: 3 months late on one filing

  36. Proximity        Exemplary

  37. Rossum         Generally Good, but very late filing of accounts and new “rescue” share allotment


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