Cygnetise wins Best Distributed Ledger Technology for Regulatory Compliance in RegTech Insights European Awards

Cygnetise has been announced as the winner of the ‘Best Distributed Ledger Technology for Regulatory Compliance’ category in the 4th Annual RegTech Insights European Awards. Organised by A-Team Group, these prestigious awards recognise established and emerging RegTech companies in the European region, honouring those that have significantly enhanced firms' abilities to meet the ever-changing and complex regulatory requirements in the global financial services sector.

Founded in 2016, Cygnetise is one of the original commercial B2B businesses to utilise blockchain technology. The Cygnetise SaaS solution simplifies and solves the pain of Authorised Signatory Management by enabling operations and finance departments to digitally manage and share authorised signatories and delegated authorities, in real time, with their banks and other counterparts, making the process more efficient, transparent, and secure. 

The proprietary blockchain technology creates an immutable audit trail, with records of changes made including timestamps, allowing for easy reporting to regulators upon request and counterparts upon dispute. The risk of fraud and compliance failures with authorised signatory issues is practically eliminated. 

Steve Pomfret, CEO of Cygnetise said,

“All credit to the team. We are absolutely thrilled to receive this award and to be recognised alongside such outstanding names in the industry. RegTech is increasingly coming under the spotlight and to be recognised by these competitive awards for using this emerging technology in this space is very flattering.”

This year’s RegTech Insights European Awards included over 30 categories providing recognition for vendors of technology and data solutions with outstanding performance. Winners included Nasdaq, SmartStream, Broadridge, AML Partners, First Derivative, Fusion Risk Management, Duco, S&P Global Market Intelligence, and Regnology. 

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