Ume, Algoreg and Governance.com made it onto the 100 most innovative regtechs in the world list, published by RegTech Analyst on 20 November.

Considered the authority on regtech firms, the company reported that more than $4 billion had been invested in regtech since 2016 making ompetition increasingly fierce in this market. So, the fact that out of the 824 companies analyised, three Luxembourg firms made the 100 final list, is a reflection on innovation in Luxembourg.

“The impact of the most innovative regtech will be measured in billions of dollars over the next few years,” RegTech Analyst head of research Mariyan Dimitrov said in a statement. “This year's companies offer solutions that improve processes across the compliance function, including integration verification, risk management, communications monitoring, information security and reporting using the latest technologies such as artificial intelligence, block chain, natural language processing and biometrics.”

Made in Luxembourg

Ume is described by its founder as a kind of TripAdvisor of the fund industry, through its platform that centralises data. It was listed in the Paperjam top 50 startups to follow.

Algoreg is a specialist in customer registration procedures for regulated financial companies and one of the only ones to offer a video-based solution. In September, one of the world's leading virtual currency trading platforms, Huobi, acquired a minority stake in its capital. Founded in 2017 in Luxembourg, Algoreg made its name by becoming one of the eight start-up finalists of the 2018 Fintech Awards last June.

Governance.com specialises in investment fund governance and won the first edition of the Fintech Awards in 2016. A little earlier in the year, it was listed among the 50 most prominent European fintech companies, compiled by FinTechCity.