RegTech is the management of regulatory processes within the financial industry through technology. The main functions of RegTech include regulatory monitoring, reporting, and compliance. Europe is home to about 140 regtech startups- 30% of those startups specialize in compliance management, 27% focus on know your customer (KYC) and anti-money laundering (AML) automation, and 26% leverage technology and data to provide risk management tools, according to a data provided by XAnge, a Franco-German venture capital firm. London headquartered ComplyAdvantage is a RegTech company that leverages uses AI and ML to help firms manage compliance obligations. The company provides data intelligence to help firms understand the risk of who they're doing business with, while automating compliance and risk processes.