TCC Wins RegTech Innovation Award at FinTech Breakthrough

What happened?

TCC and its sister company Recordsure have jointly been presented with the RegTech Innovation award at the 2023 FinTech Breakthrough Awards. The award is one of five prizes given under the programme’s RegTech category and recognises businesses judged to have pushed the boundaries of regulatory technology through disruptive, tech-enabled solutions over the preceding year.

The judging panel assessed entrants against criteria including degree of innovation, performance, ease of use, functionality, value and overall impact. TCC and Recordsure Group CEO Joe Norburn described the joint award as recognition of the “collaborative efforts of both companies” for a second year running.

The win follows previous recognition for the group, including the Best RegTech Company award (jointly with Recordsure) in 2022 and as a standalone business in 2021, making this the third consecutive year TCC has been recognised at the ceremony.

Why does it matter?

The award reflects TCC’s Intelligent Compliance approach, which combines the hands-on compliance knowledge of its consultants, former regulators and industry practitioners with Recordsure’s ReviewAI RegTech suite. For firms evaluating compliance partners, third-party recognition of this kind offers an independent reference point when comparing providers that combine advisory expertise with technology.

Consistent recognition over three years also signals a degree of continuity in the underlying approach, which regulated firms may find relevant when assessing the stability of a long-term compliance or RegTech relationship.

Who is affected?

The announcement is most relevant to compliance, risk and technology functions at regulated financial services firms that are reviewing how they combine human expertise with automated monitoring and analytics tools.

Wider implications

The FinTech Breakthrough Awards, established in 2016, have grown alongside the wider adoption of digital channels and RegTech across financial services, a trend the source material links to the acceleration of digital transformation following the pandemic. Recognition in this category reflects a broader industry shift towards combining consultancy expertise with AI-powered analytics rather than treating the two as separate disciplines.

Recommendations

Firms selecting or reviewing a RegTech partner may wish to consider how a provider combines subject-matter expertise with technology, rather than assessing either element in isolation, and to ask providers for independent evidence of innovation and outcomes rather than relying on marketing claims alone.