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Recordsure named 4th on RegTech 50 list

RegTech 50 – UK's most innovative compliance technology creators for 2021

Recordsure was announced in 4th place as one of the UK’s most innovative compliance RegTech by Business Cloud. 

RegTech 50 list celebrates the UK’s most innovative startups, scaleups and established firms, creating original technology for identity and compliance.

I'm delighted that Recordsure ranks number 4 on RegTech 50 list. It is a wonderful celebration of the exceptional achievements, focus and dedication of the whole Recordsure team.

Joe Norburn, CEO at Recordsure

Recordsure - RegTech50

The RegTech 50 ranking is driven by a combination of independent judges and reader votes. Following a 600-strong reader vote, an independent judging panel made their choices from the shortlist. A combination of these decided the final ranking – and Recordsure is placed at number 4.

Our first RegTech 50 features an array of UK businesses creating solutions to help keep companies compliant. The RegTech 50 celebrates technology innovators of all sizes. It is an honour to shine a light on so many businesses blazing a trail in banking, payments, insurance and regulation.

Jonathan Symcox, RegTech 50, BusinessCloud Editor

Fellow judge Victoria Roberts (Director of Fintech Delivery Panel and Insurtech Board at Tech Nation) reflected on the strength of innovation within UK Fintech as a true inspiration. There are many fantastic UK companies now leading the way internationally in banking, payments, InsurTech and Regtech, which is very positive for the industry.

By addressing consumer challenges and enhancing business productivity, RegTech and FinTech are designing the future of personal finances and driving growth in the economy.

Why Recordsure?

Recordsure is the market-leading provider of voice and document intelligence for regulated industries. Our supreme speech and document analytics tools use cutting-edge AI technologies to deliver regulatory compliance, manage risks and drive better customer outcomes.

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Joanne Smith Recordsure - GRC Innovator of the Year

Joanne Smith wins GRC Innovator of the Year Award 2021

Joanne Smith, the Founder and Executive Chair at Recordsure and TCC Group, gets well-deserved recognition by the Women in Governance, Risk and Compliance (GRC) Awards 2021 for her exceptional achievements in bringing pioneering innovations to GRC.

We’re proud to announce that Recordsure’s Founder and Executive Chair, Joanne Smith, was named the GRC Innovator of the Year 2021 by the Women in Governance, Risk and Compliance Awards.

These awards honour female leaders and companies demonstrating excellence across GRC.

The Women in GRC Awards 2021 showcase the role models, advocates and mentors, as well as the inspirational women and companies building and leading in the world of GRC.

The GRC Innovator of the Year Award is dedicated to innovators that drive change. It shines a light on female leaders in the world of  GRC that dedicated their careers to solving problems and changing the status quo. 

“This award is awarded to a female who delivers innovative and new ways of thinking and working in their industry, changing and challenging the way we work,” #WGRC committee. 

Joanne Smith -Recordsure Founder and Executive Chair

Thank you! I’m honoured to be been named the GRC Innovator of the Year by the Women in GRC Awards. It is fantastic to see GRC and Innovation in the same sentence.

Joanne Smith, Founder and Executive Chair, Recordsure and TCC

Joanne, the force behind the RegTech revolution

Joanne Smith has forged a career on being a risk-taker and innovator with a resolute growth mindset. Her ambition is to drive consumer trust in financial services, creating an industry that works to benefit everyone.

She has focused her career and her businesses, on solving two fundamental issues: unhealthy culture and misconduct, believing that the industry will be a fairer place with consumers and the economy better for it.

Joanne approaches challenges with eagerness and has the ability to look at problems from other perspectives to devise creative, innovative solutions. Consequently, Joanne combined her compliance expertise with innovative technology and launched two successful consultancy and RegTech businesses: The Consulting Consortium (now TCC Group) in 2000 and Recordsure in 2012.

True to her style, to create Recordsure and its ground-breaking AI-driven speech and document analytics RegTech, Joanne surrounded herself with experts – data analysts, AI engineers, behaviour and language scientists. She immersed herself in the world of digital and technology and led the business to achieve significant innovation milestones. 

Recordsure was the first company to:

  • provide a face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners;
  • build a speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations;
  • develop an artificial intelligence system that breaks financial conversations into component parts to streamline a variety of compliance, training, competency and customer insight reviews.

Inspiring the next generation

Joanne has received prestigious awards for her entrepreneurship, innovative leadership and breaking the glass ceiling in the male-dominated sectors of compliance and FinTech.

While receiving personal recognition for the impact her innovations have made, Joanne is strongly focused on giving back to the female entrepreneur community. She mentors fellow females, passionately supports female founders and is a serial investor in female-led technology businesses. 

View the list of all winners of the Women in GRC Awards 2021 here.

Joanne Smith Recordsure - GRC Innovator of the Year
Wealth Management Study - Recordsure

New research reveals profound shifts in investor needs and behaviours that will redefine the wealth industry

New global study by ThoughtLab reveals the dramatic changes the COVID-19 pandemic caused in investor attitudes, behaviours, and expectations. Wealth and asset management firms will need to revise their thinking about customers and introduce a more personalised approach to succeed.

ThoughtLab’s study of 2,325 investors and 500 wealth management firms worldwide shows that the pandemic has upended traditional ways of thinking about investors. The research was carried out in partnership with Recordsure, TCC Group, Deloitte, eToro, FIS, Salesforce, Appway, HCL, LexisNexis Risk Solutions, Refinitiv, and Publicis Sapient.

The COVID-19 pandemic has caused dramatic changes in investor attitudes, behaviours, and expectations, overturning conventional wisdom in the wealth management industry about how providers should best serve their clients. To succeed in this new marketplace, wealth and asset management firms will need to revise their thinking about customers and take a more personalised approach to meet their product and service needs. 

Busting the myth

The research reverses prevailing views about investors:

  • Myth 1: Digital is for young, mass market investors. The study shows little difference in digital tastes. The proportion of investors preferring to use a mobile app to engage with their wealth firms is identical for the ultra-rich, baby boomers, and millennials, at 89%. 
  • Myth 2: Millennials only want to do things digitally. Another myth. Millennials, like older generations, want personal contact when investing: 46% of millennials prefer face-to-face meetings and 40% prefer phone calls. 
  • Myth 3: Older and richer investors care less about ESG. Not so. Only 10% of millennials are planning to invest in green bonds over the next two years, versus 15% of boomers – and 50% of billionaires. Likewise, only 22% of millennials plan to invest in ESG funds, versus 32% of boomers, and 36% of billionaires. 
  • Myth 4: Women know less about investing and are more risk-averse than men. The study shows that 24% of women have high knowledge of wealth management vs 16% of men and that percentages of both genders are willing to make high- or very high-risk investments are largely the same. 

Watching the well-established Wealth and Asset Management industry go through this digital revolution at a breathtaking speed is elevating. As a result, investors now have the advantage of a wide range of communications channels to engage with their advisors, simply using the methods they're most at ease with.

Joe Norburn, CEO, Recordsure & TCC Group

A watershed event for investors

The comprehensive research programme included a worldwide survey and revealed that the pandemic was a watershed event that reshaped investor views in many areas.

These are some of the insights from Wealth and Asset Management 4.0 study:  

  • Investments: The pandemic made risk mitigation a top goal for half of investors and prompted about 4 out of 10 investors to include family members in more wealth decisions and to turn their attention to active investing and holistic financial planning. 
  • Relationships: About a quarter of investors reported fractured relationships with their advisors due to inadequate personal service. To mitigate risks, 27% of investors distributed accounts to more firms; among billionaires, it was almost twice that number. The trend will continue, with 4 in 10 investors expecting to move money to another firm within the next two years. 
  • Digital interaction: The pandemic made digital access a higher priority for 40% of investors and put 30% more at ease working through video and digital tools. In the next two years, three-quarters of investor interactions with advisors will be through digital channels – although face-to-face meetings will also increase. 
  • Products and services: More than two-thirds plan to put money in alternative investments over the next two years, and many more will invest in other specialised products such as IPOs, tax-exempt instruments, and ESG funds. Many also plan to seek personalised planning and holistic advice and draw on non-investment services like insurance, tax advice, and loans. 
  • Fees: With more time to spend on investing during the pandemic, about a third of investors reevaluated what they pay. Fewer than 4 out of 10 investors are happy with their wealth management firms’ fees and fee structures. Only about a third understand how their advisors are compensated. 

Our study shows that wealth management providers will need to replace their assumptions about age and wealth with a new client lens focusing on personal needs and life stages. The smartest firms will not just democratise their products and services, but also their views about investors.

Lou Celi, CEO at ThoughtLab and Programme Director

An eBook with the results from both surveys will be released in November. For further updates on the program and to access the analysis, visit Wealth and Asset Management 4.0.