AutoRek listed in RegTech100 List

Scottish RegTech company, AutoRek, just announced it has been selected as one of the world’s most innovative RegTech companies as part of the annual RegTech100 list.

Autorek was selected amongst a long list of nearly 1,200 companies produced by RegTech Analyst, a specialist research firm, for its innovative use of technology to solve a significant industry problem and generating efficiency improvements across the compliance function.

The Scottish company is a financial controls, regulatory reporting and data management platform which provides complete and seamless control of data. Despite the pandemic.

Kemal Sangrar, Head of Product, AutoRek, said

“We are delighted to be listed in the RegTech100 for the fourth consecutive year. This award is recognition of our commitment in delivering regulatory reporting solutions to the financial services industry and testimony to innovative strategy underpinning our product. We have had a great year with the launch of AutoRek 6, with many clients looking to upgrade in the coming months.”

Mariyan Dimitrov, Director of Research, RegTech Analyst, added,

“Banks and other financial institutions are investing heavily into AI capabilities to automate highly manual regulatory tasks, support digital onboarding processes and monitor for fraudulent activity. The RegTech100 list helps them filter through all the vendors in the market by highlighting the leading companies in sectors such as identity verification, risk management, communications monitoring, information security and financial crime prevention.”

A full list of the RegTech 100 is available at www.RegTech100.com.

AutoRek selected by Superscript for Bordereau Reconciliations & CASS 5 Automation

Scottish fintech AutoRek just announced that Superscript would come on board as a new client.

Established in 2015, Insurtech Superscript is disrupting the business insurance distribution model, placing customers at the core of their business. It uses a flexible monthly subscription model suited to the fast-changing needs of today’s small businesses. With Superscript, customers can obtain quotes, set-up their cover in minutes, pay, modify, or cancel their cover any time, easily.

Autorek will be used by Superscript and become part of their digitally driven architecture to deliver end-to-end automation and to enable the business to scale and meet its exciting growth plans.

Gordon McHarg, CEO at AutoRek, added,

“We are delighted to have a client such as Superscript come on board. It is an exciting time for both Superscript and AutoRek in terms of growth plans and we look forward to collaborating on this project and building on our relationship.”

Piers Williams, Insurance Lead at AutoRek, added,

“We are excited to work with the team at Superscript, particularly as they are strong players in the new wave of digitally driven Insurance firms. We have built our Bordereau solution based on the market need and are looking forward to working with the team at Superscript to implement our market leading solution to deliver end-to-end automation.”

Anil Sharma, Chief Financial Officer at Superscript, said:

“Superscript has ambitious growth plans, and we are scaling quickly. As we are managing an increasing amount of policy transactions, the implementation of AutoRek’s technology will help increase efficiency for the finance team. Importantly, it can be incorporated seamlessly and will be a useful addition to our existing systems.”

AutoRek nominated for duo of awards

AutoRek, the leading software provider to global financial service firms, has been shortlisted for the Best CASS Solution’ and Best Wealth Management Solution’ categories at the Systems in the City Financial Technology Awards 2021.

This isn’t the first time AutoRek has won the Best CASS Solution award, after winning the title last year – the first time the award ceremony has been held virtually in its 18-year history.

Lyn Canavan, Head of Marketing at AutoRek, commented, “We are delighted to be recognised again as a provider of the Best CASS Solution’, and also in the Best Wealth Management Solution’ category by the Systems in the City Financial Technology Awards judging panel ”“ this is testimony to the team’s continued hard work in consistently striving to offer superior solutions.”

Goodacre, a specialist business and technology consultancy, organised the awards as an endorsement for suppliers of systems and services to the regulated financial services sector, with three independent judges overseeing the selection prciess.

The Awards provide an important point of reference for user firms assessing the suitability of their operational infrastructure

Omnio selects AutoRek’s reconciliation solution

AutoRek, the Scottish fintech and leading software provider to global financial services firms, has announced Omnio as the latest addition to its ever-expanding list of digital banking/payment clients.

Omnio, a high-growth financial services infrastructure provider, provides a singular platform that combines the best of banking capabilities and customer engagement/loyalty. With operations in the UK and Europe, and headquartered in London, it supports many of the leading corporates and financial institutions in providing innovative and effective banking, payment and loyalty solutions.

AutoRek will provide the core reconciliation solution, including internal and external reconciliations between Omnio’s payment processors, bank accounts and ledger system. AutoRek’s solution seeks to replace its existing manual Excel process by providing end-to-end automation and will facilitate increased efficiency and control, as well as provide automated reporting and real-time Management Information to ensure the team’s business users and management are provided with quality MI through a variety of dashboards to fulfil their daily activities at the optimal level.

Laurence Sproston, Head of Reconciliations and Settlements at Omnio, commented, “We approached AutoRek to provide us with a solution to help automate our reconciliation processes. Our main goal in pursuing this partnership is to save time, costs and ensure operational resilience as we move forward to a new way of working. The AutoRek team adopts a collaborative approach for implementation and have provided us with an automated solution ensuring our regulatory, data integrity, workflow and management information needs are met.”

Gordon McHarg, CEO at AutoRek, added, “We are pleased to welcome Omnio to our increasingly growing client portfolio. The payments industry is evolving rapidly and we are proud that AutoRek’s capabilities meet the challenges facing the industry including volume of data. We are looking forward to establishing a good relationship with Omnio and building upon it over the years.”

Nick Botha, Banking and Payments Lead at AutoRek, who led the deal commented, “We are delighted to be working with the Omnio team. Following the turbulent year defined by COVID-19 and with the constant changes taking place in the digital banking and payments world, we are extremely proud that Omnio has selected the AutoRek solution to be the glue between their internal and external systems.”

AutoRek takes on the Big Apple

AutoRek, a leading Fintech software provider to global financial service firms, is the Glasgow Chamber of Commerce’s selection for representing Scottish business in its virtual trade mission to the state of New York.

On the 23 and 24 March, the two-day event aims to attract Scottish companies from the Fintech sector that show interest in international exporting and expanding. 16 company-strong delegations that will participate in a market awareness session, and two business-to-business meetings based on specific requirements, with support from the Chamber’s local market partner.

Establishing international partnerships in the main aim of this trade mission, with the opportunity to explore joint ventures, distribution deals and other mutually beneficial practices.

Having been selected by the UK Government’s Department of International Trade to showcase the Best of British Innovation, AutoRek has continued to build overseas relationships. Just last week, AutoRek announced Scottish Equity Partners had completed a significant growth equity investment in its business, which will facilitate accelerating its US expansion plans.

SEP Invests in Glasgow Based SaaS Platform AutoRek

Scottish Equity Partners (SEP) has made a significant growth equity investment in  AutoRek, a leading Glasgow-based provider of Financial control, regulatory reporting and data management software. Over the past three years, Autorek’s cloud-based software as a service (SaaS) has experienced significant growth and investment from SEP, enabling them to extend further into the international market as well as accelerating additional product development.

About AutoRek

AutoRek is an industry-leading software provider to companies in the global financial services sector.

An industry leader at the forefront of financial data management, AutoRek’s customisable rules-driven platform allows firms to automate and streamline the collection, validation and reconciliation of data. This facilitates the necessary transparency for good governance and fulfilling regulatory obligations. Efficiency and cost reduction are delivered by eliminating spreadsheets and manual processing, as well as mitigating operational and regulatory risk associated with managing high volumes of data.

SEP Expansion 

Increased regulation of financial institutions and growing demand for AutoRek’s financial control and regulatory reporting solutions have both been a result of the drive for greater integrity, transparency and accountability within the financial services sector. AutoRek’s software automates high-volume reconciliation, exception management and data analysis workflows, delivering operational efficiency and improved governance of financial and regulatory risk. Partnering with SEP will support the company to further enhance its proposition to address a $2 billion-plus per annum global regulatory and data management software market.

Andrew Davidson and Angus Conroy led the deal, with both joining the AutoRek Board.  Angus said:

“AutoRek is a fast-growing and capital-efficient SaaS company, delivering business-critical functionality to financial institutions across the asset management, banking and insurance sectors. The company has an excellent reputation in the financial and regulatory data management market and a strong focus on product innovation. We are pleased to be working with the management team to help them achieve their growth ambitions.”

Gordon McHarg, co-founder and CEO of AutoRek said:

“We are delighted to have SEP on board as an investment partner to continue the successful evolution of the AutoRek business. SEP has extensive experience in the software sector and we are looking forward to working with them to build on our recent growth and to capitalise on the substantial opportunity within the global financial services market.”

www.autorek.com

UK Government picks AutoRek for US roadshow

Scottish fintech company, AutoRek has been selected by the UK Government’s Department for International Trade (DIT) to showcase the best in British innovation during a US roadshow.

The DIT’s RegTech Roadshow will take place virtually between the 22nd and the 26th February 2021 and provide ten innovative innovative firms the opportunity to meet industry stakeholders, regulators and potential partners. AutoRek was chosen after a very competitive selection process.

Commenting on the accolade, AutoRek CEO, Gordon McHarg, said,

“Joining the trade delegation, with other leading regulatory innovators is an exciting and invaluable opportunity for AutoRek to demonstrate our services. We have proven success in the UK and are accustomed to working with global financial services firms and are looking forward to helping revolutionise the way US companies manage risk, compliance and regulatory change.”

Kunal Khatri, Director for DIT North America, said,

“The UK has been at the heart of the global financial services innovation for decades, and in 2021 we will continue to lead the global FinTech and RegTech revolution. We’re excited to showcase the talent and expertise that UK companies have to offer. This roadshow is a great opportunity to deepen our bilateral engagement on financial services with the US and encourage private sector collaboration to make the world a safer, easier, and more equitable place to do business.”

AutoRek further strengthened its US offering by signing a partnership with iSoftware4Banks in November 2020. With AutoRek’s growing clientele – together with the nine other roadshow representatives, these companies combined service nearly every major top tier bank.

AutoRek wins best insurance system in bobsguide Awards

Scottish fintech AutoRek was awarded ‘Best Insurance System’ in bobsguide awards for the second time.

The awards recognise the strength of tech updates and their impact on the client experience. Autorek went through several rounds of assessment. The judges looked at user and market engagement, as well as specific criteria for each individual award.

Michael McCaw, editor at bobsguide, commented

“During an incredibly difficult year for the insurance industry, many market participants looked to their tech partners to contribute additional value and certainty across various processes and functions. The judges were particularly impressed with the standards set by AutoRek throughout 2020, in making sure their clients were well-informed and had access to leading data management and reconciliation technology.”

Lyn Canavan, Head of Marketing at AutoRek commented

“We are proud to have won Best Insurance System with bobsguide for the second time. We have focused our efforts on innovating our Insurance solution over the past couple of years and this award recognises the hard work and dedication of the whole AutoRek team. We are continuing to expand our global Insurance client base and are confident that these clients will reap the benefits of our end-to-end automation tool.”

AutoRek recognised in RegTech100 list

Scottish fintech AutoRek has been chosen as one of the world’s most innovative RegTech companies in the the annual RegTech100 list. The list is pulled together by RegTech Analyst, a pre-eminent provider of data, research and analysis on the global RegTech market.

A panel of analysts and industry experts looked at over 1,000 companies and the finalists were selected for their innovative use of technology to solve significant industry problems or generate efficiency improvements across the compliance function.

Despite a very different 2020, AutoRek has seen a huge demand increase for regulatory reporting solutions, with many firms already implementing AutoRek.

Kemal Sangrar, Head of Product, AutoRek, said:

“AutoRek is delighted to be listed in the RegTech100 for the third consecutive year. This award is recognition of our commitment in delivering regulatory reporting solutions to the financial services industry and testimony to innovative strategy underpinning our product. We anticipate another great year ahead and are looking forward to the launch of our next big release, AutoRek 6.0.”

Mariyan Dimitrov, Director of Research, RegTech Analyst, added:

“At RegTech Analyst, we take pride in consolidating the RegTech100 list each year. With the RegTech industry still expanding and evolving, we have found it important that Financial Institutions are kept up to date with the most innovative RegTech companies out there and having gone through the process the last three years, AutoRek is certainly one of them.”

A full list of the RegTech 100 is available at www.RegTech100.com<http://www.RegTech100.com>.