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RegTech Supply Chain - Monitoring

RegTech Supply Chain – Monitoring Tools

RegTech Supply Chain - Monitoring

Welcome back to the RegTech Supply Chain Series! This series of posts helps make sense of the RegTech industry; the different sectors, what tools are available, and how they help satisfy compliance requirements and challenges. In the first part of the series we looked at onboarding tools, an area that Trulioo is very familiar with.

We have tons of regulations and technologies to consider outside of just the onboarding process. We now move on to Part 2 where we explore monitoring tools. As we introduced in Part 1 of this series, one way to catalogue all of these tools is by business needs, specifically classifying based on timeframes of the use of the RegTech tool.

Let’s review, what are different timeframes across a process lifecycle?

  • Onboarding
    Tools for the first step of signing up a customer. These are often one time or for new cases (ex. ONC, CDD, and KYC).
  • Monitoring
    Tools for analyzing performance on an ongoing basis.
  • Detection
    Tools for flagging potential events, such as risk or fraud. These are occasional in nature but require the utmost of attention.
  • Reporting
    Tools to warehouse, organize and send data to regulators at scheduled intervals.
  • Process Tools and Controls
    Tools and controls that operate over the entire process lifecycle


After the initial onboarding process, compliance is not complete. There’s a necessity for monitoring on an ongoing basis. Monitoring refers to the analysis of continual, ongoing activities to ensure activities remain in compliance.

There are various activities to keep track of, such as exceeding thresholds, suspicious activities, change of status, recording of communications, surveillance of employees, watchlists, market trends, new regulations, trade data and various other market and transaction monitoring needs.

For financial institutions (FIs), even after AML/KYC (Anti-Money Laundering/Know Your Customer) regulations are met when signing up new customers, continued monitoring is critical long after initial sign up. FIs must monitor activity to ensure fraud is not committed, or that money laundering or terrorist financing funds enter their system.

Trulioo supports the monitoring process after initial onboarding, as we focus on providing the capabilities to screen results for global watch lists. We check data that a customer provides against our watch list data sources to see if the information matches. By performing these checks, FIs are then assured that they are in compliance with their regulatory obligations for this stage on the process.

Here are some other tools that are useful in the monitoring stage:

Company NameCategoryDescription
Beyond EnterpriseCommunications MonitoringHelps firms assess the status of their communications monitoring program
CheckRecipientCommunications MonitoringIntelligent outgoing email protection
EnepathCommunications MonitoringIntegrated verbal communication solution for trading desks
NovastoneCommunications MonitoringSecure messaging tool for communication with clients
QumRamCommunications MonitoringAutomatic digital activity recorder
RecordSureCommunications MonitoringRecords sales calls and identifies red flags
Abacus/TransactionsTransaction Monitoring and Market SurveillanceSolution for transaction-based regulatory reporting
Alpha Trade Cycle ManagementTransaction Monitoring and Market SurveillanceTrade cycle management software
AltoTransaction Monitoring and Market SurveillanceIdentification of unusual and significant cash flows in investment funds under UCITS and AIFMD
AncoaTransaction Monitoring and Market SurveillanceMarket surveillance solution based on contextual data analytics to prevent risks of market abuse, fraud and operational shortcomings
BehavoxTransaction Monitoring and Market SurveillanceEmployee surveillance solution
ChainalysisTransaction Monitoring and Market SurveillanceMarket surveillance/fraud detection on bitcoin transactions
ComplySciTransaction Monitoring and Market SurveillanceCompliance management workflows based on each employee’s risk profile
Cube Content CloudTransaction Monitoring and Market SurveillanceInformation governance solution to manage records and data compliance requirements
Digital ReasoningTransaction Monitoring and Market SurveillanceContextual analysis across structured and unstructured data
DroitTransaction Monitoring and Market SurveillanceMarket logic and regulatory rule based trading decision engines
EllipticTransaction Monitoring and Market SurveillanceIdentification of illicit transaction activity on the Bitcoin blockchain
IdentityMind GlobalTransaction Monitoring and Market SurveillanceRisk management solutions to track entities involved in every transaction
IsignthisTransaction Monitoring and Market SurveillanceReal time electronic verification of payment instruments with KYC identification of customers, delivering AML/CFT KYC, payments and transaction monitoring
Message AutomationTransaction Monitoring and Market SurveillancePost trade control solutions
MonetsuTransaction Monitoring and Market SurveillanceSolutions for crypto-currencies using an independent approach to blockchain
NeurensicTransaction Monitoring and Market SurveillanceIdentifies high-risk trading behavior from previous market abuse instances
NeurowareTransaction Monitoring and Market SurveillanceBlockchain and distributed ledger solutions.
OpenGammaTransaction Monitoring and Market SurveillanceMetrics to drive derivatives trading and clearing cost
PaymentscomplianceTransaction Monitoring and Market SurveillancePublication of legal and regulatory changes affecting the global and emerging payments communities
PolycoinTransaction Monitoring and Market SurveillanceBitCoin transaction monitoring
RedOwl AnalyticsTransaction Monitoring and Market SurveillanceDetects and deters unwanted/illegal behaviors
ScorechainTransaction Monitoring and Market SurveillanceBusiness intelligence and big data for the blockchain technologies
SkryTransaction Monitoring and Market SurveillanceBlockchain analytics and intelligence
SnapSwapTransaction Monitoring and Market SurveillanceInnovative financial products based on cryptographic technologies, cryptocurrencies, and blockchain
SybenetixTransaction Monitoring and Market SurveillanceMarket surveillance solution based on combination of contextual data analytics and behavioral science
Sysnet Global SolutionsTransaction Monitoring and Market SurveillanceCyber security and compliance solutions
TradeFlowTransaction Monitoring and Market SurveillanceTrack trade data over legacy infrastructure and risk alerting
TrapetsTransaction Monitoring and Market SurveillanceDetection of insider trading and market abuse
VoitraxTransaction Monitoring and Market SurveillanceTracks trader communications to identify potential market abuse

On the next RegTech Supply Chain post we’ll look at detection tools; what are they, how they can help your business and a survey of suppliers.

As you can see from the list, there are many options to choose from, and the key to picking the solution that is right for your product or service is to understand your current business needs and anticipate and prepare for the regulatory challenges on the horizon.

Market Fintech conducted a RegTech Performance Report where they ranked top performing RegTech suppliers from around the world. If you’re interested in Trulioo’s approach to customer monitoring and how we can help you comply with cross-border requirements with speed, agility and scalability, check out our Product Brochures page.

Disclaimer: Trulioo provides no warranty that the information contained in this document is accurate, up to date or complete and in no circumstance does such information constitute legal advice. Any person who intends to rely upon or use the information contained herein in any way is solely responsible for independently verifying the information and obtaining independent expert advice if required.

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