Every year, RegTechAnalyst and FinTechGlobal put together a list of 100 companies in the world active in regulatory technology to give them visibility – and three Luxembourg companies made the cut this year.

The annual list promises to present “the companies every financial institution needs to know about as they consider and develop their mission critical RegTech and digital transformation strategies”, the RegTech100 says on its website.

RegTech – or regulatory technology – uses emerging technology to help companies manage regulatory compliance.

Three Luxembourg companies – Cascade, i-Hub and LuxHub – are part of “the next generation of solution providers shaping the future of compliance, risk management, information security and financial crime prevention”.

Mariyan Dimitrov, director of research at RegTech Analyst, said in a statement Wednesday: “This year’s list highlights the leading movers-and-shakers in areas such as communications surveillance, onboarding, risk management and financial crime prevention that are working at the frontline of innovation, seeking to integrate latest AI technologies into their offerings to help financial institutions stay ahead of regulatory updates, improve customer experience and bring operational efficiencies.”

Cascade was recognised for its Software as a Service solution, a platform that digitises client data and offers a comprehensive anti-money laundering (AML) and know your customer (KYC) framework for companies of all sizes.

LuxHub, a fintech providing compliance services and solutions around account aggregation and payment initiation, was founded by Luxembourg banks Spuerkeess, BGL BNP Paribas, Banque Raiffeisen and Post Luxembourg. LuxHub previously made the list in 2020 and 2022. The company, which focuses on open banking, recently developed a solution to address VAT fraud in cross-border transactions. Thirty-five EU clients have adopted it so far.

Kayl-based I-Hub helps businesses and financial institutions follow AML laws by making it easier to manage and update their customers’ KYC information.

The three Luxembourg companies were among 1,500 businesses studied by a panel of analysts and industry experts for the Top 100 ranking.