Compliance software company Trapets acquires Regtech Solutions
Trapets, a leading Nordic software company offering solutions to fight financial crime, announces today the acquisition of Regtech Solutions, a Swedish software company offering Know Your Customer and screening services solutions to comply with Anti-Money Laundry regulations.
The acquisition of Regtech Solution goes hand in hand with Trapets strategy to expand outside of its core customer segment, financial services. As the fight against financial crime is hardening, the scope of industries regulated under the anti-money laundry directives has broadened. The demand for software to support anti-money laundry programs in non-financial segments is increasing, and it's within this segment that Regtech Solutions has proven growth very successfully.
The acquisition will strengthen Trapets' position in the Nordic regulatory technology market. Combining the two companies' offering, customers can benefit from innovative Know Your Customer (KYC) and Anti-Money Laundering (AML) solutions to prevent and detect financial crime activities.
"We at Trapets are very excited to be able to offer solutions to a broader customer base and to be able to grow in other customer segments where we historically have had limited focus," says Dan Sjöholm, Chief Strategy Officer at Trapets. "The growth of Regtech Solutions in a short period is impressive and demonstrates the great need and potential for our solutions as the fight against financial crime continues. By combining our expertise and knowledge, we look forward to providing greater value to a broader range of customers."
"We are thrilled to be joining Trapets as one of the leading regulatory technology companies in the Nordics, says Gunnar Jacobson, CEO Regtech solutions. "Our customers will benefit from Trapets' extensive experience in the industry, innovative technology development combined with a broader service offering. Leveraging a larger organisation's resources and expertise will benefit our customers and us. "
Regtech Solutions will fully integrate into Trapets' organisation, operations, and service offerings.
Contact:
Sanja Gabler, Chief Marketing Officer
+46 702891544
sanja.gabler@trapets.com
About Trapets
Trapets offers software solutions and services to help organisations detect, prevent, and fight financial crime more effectively and remain compliant with various regulations. Trapets is trusted by over 200 companies ranging from small financial institutions to banks and FSAs. With 20+ years of experience, Trapets have earned recognition as one of the top 100 RegTech companies 2022. The company has over 60 employees based in Stockholm, London, and Hanoi.
About Regtech Solutions
Regtech Solutions is a SaaS company that provides solutions to help companies and organisations comply with Anti-Money Laundry (AML) regulations and Know You Customer (KYC). The company was founded in 2018 and serves over 40,000 customers. It operates from its head office in Stockholm.
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