Regulation Asia held its 7th annual Awards ceremony on 4 November 2024. Here we announce the winners in each category.

The awards programme is held each year to recognise excellence by firms that have helped to shape the regulatory landscape in Asia Pacific and ensure the highest compliance standards are upheld in the financial industry.

This year’s awards programme saw more than 190 submissions.

METHODOLOGY

Firms were asked to complete a comprehensive questionnaire describing their solutions, projects and other efforts to meet changing regulatory requirements. The questionnaire also asked for documents, references, case studies, client testimonials and other materials to support the submission.

Regulation Asia’s research and editorial teams, working with an external panel of judges, assessed the submissions to shortlist those with the most merit in each category. Judges were also asked to offer guidance on category appropriateness, and to identify information gaps and supporting documents needed for evaluations.

The editorial team conducted interviews with the shortlisted firms, and in some cases their clients, in order to obtain a more detailed picture of the strengths and weaknesses of each firm or solution and to enable a clearer comparison between the entrants. Some entrants may be asked for additional supporting documents to evidence the merits of their submissions.

The panel of judges – comprising subject-matter experts from banks, associations, law firms, consulting firms and academia – was tasked with assessing and scoring each submission on pre-set criteria, based on the submissions, interview data and other supporting materials collected by the editorial team.

The judges worked together in their assessments, resulting in constructive debate and deeper evaluations on scoring decisions. All the submissions, interview data, and other supporting materials collected during the Awards process were subject to strict confidentiality.

Finally, the judges’ scores were compiled to determine the winners in each category. Each category had the benefit of multiple judge assessments, so that a consensus or majority view could be established.

In categories where a winner could be determined or where the scores were close, input was sought from additional judges. In some categories, where warranted, a ‘Winner’ was declared along with ‘Highly Commended’ entrants.

The 2024 awards have introduced a new methodology for ‘Highly Commended’ firms, which is based on exceeding a calculated threshold. Firms that surpass this threshold have been recognised for their exceptionally high standards, regardless of whether they were chosen as Winners.

This means that there are multiple firms ranked as ‘Highly Commended’ this year.

ONES TO WATCH  – These awards recognise start-ups and new entrants to APAC that have experienced rapid growth, demonstrate an innovative approach, or show significant potential for future expansion in the region.

PEPs & Sanctions Screening Solution

• One to Watch: Babel Street – press release

Digital Asset Surveillance Solution

• One to Watch: Elliptic’s Ecosystem Monitoring Solution

DIGITAL ASSETS – These awards focus on technology solutions and firms that help to promote regulatory compliance and a secure marketplace for digital assets.

Best Digital Asset Surveillance Solution

• Winner: Eventus

Best KYT / Transaction Monitoring Solution

• Winner: Elliptic

• Highly Commended: Lukka

Best Blockchain Analytics & Investigations Solution

• Winner: Lukka

• Highly Commended: Crystal Intelligence

Best Digital Asset Risk & Reporting Solution

• Winner: Lukka

• Highly Commended: FailSafe

Investigative Firm of the Year

• Winner: Failsafe

Digital Assets Advisory Firm of the Year (Boutique)

• Winner: Quinlan & Associates

• Highly Commended: Meta Alpha

Digital Assets Advisory Firm of the Year

• Winner: Clifford Chance

• Highly Commended: Linklaters

• Highly Commended: Herbert Smith Freehills

Industry Collaboration of the Year

• Winner: Canton Network

• Highly Commended: The Association of National Numbering Agencies (ANNA)

Best Institutional Digital Asset Custody

• Winner: Anchorage Digital

• Highly Commended: CSpro (Hong Kong) Limited

ESG & SUSTAINABILITY – These awards focus on technology solutions and firms that help to promote regulatory compliance with ESG and sustainability-related requirements.

Best ESG Disclosure & Reporting Solution

• Winner: LSEG

• Highly Commended: S&P Global Sustainable1

Best ESG Data & Analytics Solution

• Winner:  S&P Global Sustainable1

Best Climate Risk Management Solution

• Winner: S&P Global Market Intelligence

• Highly Commended: LSEG

• Highly Commended: LSEG

Industry Collaboration of the Year

• Winner: Bursa Malaysia

• Highly Commended: S&P Global Sustainable1

ESG Advisory Firm of the Year

• Winner: ERM

ESG Initiative of the Year

• Winner: S&P Global Sustainable1

• Highly Commended: Accela Research

BANK RISK, RESILIENCE & INTEGRITY – These awards focus on technology solutions and firms that help to promote regulatory compliance, institutional resilience, and stability in the banking sector.

Best Regulatory Reporting Solution

• Winner: Nasdaq

• Highly Commended: RegCentric

• Highly Commended: Wolters Kluwer

Best Regulatory Reporting Initiative

• Winner: International Swaps and Derivatives Association (ISDA)

Best Capital / Liquidity Management Solution

• Winner: Nasdaq

• Highly Commended: Wolters Kluwer

Best Credit Risk Modelling & Management Solution

• Winner: S&P Global Market Intelligence

Best FRTB Solution

• Winner: Bloomberg

• Highly Commended: S&P Global Market Intelligence

Best Regulatory Change Management Initiative (Vendor)

• Winner: CUBE Content Governance Limited

• Highly Commended: Broadridge

Best Regulatory Change Management Initiative (Financial Services)

• Winner: DBS Bank

• Highly Commended: NSE Clearing

Banking Advisory Firm of the Year

• Winner: Accenture

• Highly Commended: Herbert Smith Freehills

Banking Industry Collaboration of the Year

• Winner: Citibank & Aereve

• Highly Commended: DBS Bank

MARKETS & INFRASTRUCTURE – These awards focus on technology solutions, infrastructure and firms that help to promote a safe and efficient marketplace and compliance with related regulatory requirements.

Exchange of the Year

• Winner: SGX Group

• Highly Commended: National Stock Exchange of India (NSE)

Exchange Initiative of the Year

• Winner: NSE IX

Best Market & Trade Surveillance Solution

• Winner: Eventus

• Highly Commended: TradingHub

Best Communications Surveillance Solution

• Winner: LeapXpert

• Highly Commended: Verint

Best Trade Reporting Solution

• Winner: DTCC

• Highly Commended: TRAction

Best Reference Data Provider

• Winner: S&P Global Market Intelligence

Market Infrastructure of the Year

• Winner: Central Depository Services (India) Limited (CDSL)

• Highly Commended: ICICI Bank

Capital Markets Advisory Firm of the Year

• Winner: Linklaters

Capital Markets Industry Collaboration of the Year

• Winner: Gekko Lab & Hong Kong Exchanges and Clearing Limited (HKEX)

INDUSTRY AWARDS – These awards focus on organisations that have had a positive cross-sector impact to the industry in supporting regulatory compliance, promoting financial stability, and enhancing industry practices.

Industry Association of the Year

• Winner: International Swaps and Derivatives Association (ISDA)

• Highly Commended: Hong Kong Association of Banks (HKAB)

Outstanding Contribution to Regulatory Reforms

• Winner: Derivatives Service Bureau (DSB)

• Highly Commended: Accenture

FRAUD & FINANCIAL CRIME – These awards focus on technology solutions and firms that help to bolster industry efforts to guard against illicit finance risks such as fraud and money laundering, and promote better financial crime compliance practices.

Best KYC & Onboarding Solution (Vendor)

• Winner: Fenergo

• Highly Commended: Encompass Corporation

• Highly Commended: Tookitaki Holding Pte Ltd

• Highly Commended: Sumsub

Best KYC & Onboarding Solution (Financial Services)

• Winner: Airwallex

• Highly Commended: GX Bank Berhad

Best KYB & Entity Resolution Solution

• Winner: AsiaVerify

Best AML / CTF Data Solution

• Winner: NICE Actimize

Best Due Diligence & Third Party Risk Solution

• Winner: S&P Global Market Intelligence

• Highly Commended: SmartKYC

Best PEPs & Sanctions Screening Solution

• Winner: Dow Jones

• Highly Commended: LSEG

• Highly Commended: Bloomberg

• Highly Commended: SymphonyAI

• Highly Commended: Tookitaki Holding Pte Ltd

Best TBML & Trade Compliance Solution

• Winner: LexisNexis Risk Solutions

• Highly Commended: Lloyd’s List Intelligence

• Highly Commended: Eastnets

Best Transaction Monitoring Solution (Vendor)

• Winner: Tookitaki Holding Pte Ltd

• Highly Commended: Hawk

Best Transaction Monitoring Solution (Bank)

• Winner: HSBC

Best Tax Reporting Solution

• Winner: Regnology

• Highly Commended: S&P Global Market Intelligence

Best Client Lifecycle Management Solution

• Winner: Fenergo

• Highly Commended: S&P Global Market Intelligence

• Highly Commended: Wealth Dynamix

Best Use of AI for Fraud & Financial Crime Prevention (Vendor)

• Winner: Feedzai

• Highly Commended: Hawk

• Highly Commended: Quantexa

• Highly Commended: Clari5

Best Use of AI for Fraud & Financial Crime Prevention (Bank)

• Winner: GX Bank Berhad

• Highly Commended: Bank of Singapore

• Highly Commended: DBS Limited

Best Anti-fraud Solution (Vendor)

• Winner: LexisNexis Risk Solutions

• Highly Commended: Tookitaki Holding Pte Ltd

• Highly Commended: Clari5

Best Anti-fraud Solution (Bank)

• Winner: DBS Bank

• Highly Commended: HSBC

Best Digital Identity, Biometrics or Authentication Solution

• Winner: Grab

Best Compliance Training Initiative / Provider

• Winner: LRN

• Highly Commended: GRC Solutions Pte Ltd

Advisory Firm of the Year

• Winner: Herbert Smith Freehills

• Highly Commended: Accenture

Industry Collaboration of the Year

• Winner: HSBC

Excellence in Fraud Awareness and Education Programme

• Winner: HSBC

• Highly Commended: GRC Solutions Pte Ltd

SPECIAL THANKS

Regulation Asia would like to offer our sincerest thanks to our judges for their time, dedication and hard work throughout the judging process. A list of the judges is available here.

In recognition of the considerable effort that was put in from across the industry to participate in the Awards programme, we would also like to thank all the teams from all the firms who entered a submission.

The winners can be seen here: 2018 | 2019 | 2020 | 2021 | 2022 | 2023