Regtech firm ComplyAdvantage, the enabler of AI-driven financial crime compliance solutions, announced the launch of its hosting region in India, highlighting the regulatory technology company’s ongoing commitment to enabling financial services advancements while supporting customer expansion in one of the world’s fastest-growing economies. In fact, the economy of India is projected by Goldman Sachs to become the world’s second-largest by 2075 (behind China and ahead of the US based strictly on current trends).
Aiming to address market demand in a fast-evolving financial services sector
India’s financial services industry is said to be undergoing a significant transformation.
From retail banking and insurance to capital markets and all-digital platforms, the ecosystem is scaling steadily with technology said to be at its core. Notably, digital bank Revolut and global Fintech Wise have also made recent announcements that aim to target India’s growing consumer-base and high-potential businesses.
ComplyAdvantage further noted in a blog post that the Fintech market in India is expected to reach $1.5 trillion by 2025, while digital lending, payments, and wealthtech are responsible for fueling new models of growth.
The Unified Payments Interface (UPI), processing around 18 billion transactions on a monthly basis, has made India the global enabler of real-time payments.
Meanwhile, ComplyAdvantage noted that banks and insurers are focused on modernizing operations, adopting cloud-based platforms, and expanding credit and investment access to underserved segments.
With regulatory enablement via open APIs, open banking models, and strong government support for digital inclusion, India has reportedly become one of the most unique financial services markets.
By launching an India based hosting region, ComplyAdvantage is ensuring financial institutions, Fintechs, and payment providers are able to scale securely, address regulatory guidelines, and serve customers.
The new hosting region also reflects the expanding global presence of ComplyAdvantage’s customers in India.
As multinational banks, payment providers, insurers, investment companies, and other regulated corporate entities expand into the Indian market, they will be needing more localized infrastructure that delivers compliance, reliability, as well as performance.
Paul Kizakevich, Chief Revenue Officer at ComplyAdvantage shared that their new hosting region addresses the demand from local institutions and enables their global customers, many of whom “are entering or expanding in India, to … stay compliant, and deliver trusted services at scale.”
Mark Watson, Chief Technology Officer at ComplyAdvantage said that by woking with Google Cloud, they are able to provide customers with services that meet global and regional regulatory standards.
This launch is said to be part of ComplyAdvantage’s strategy to expand its infrastructure services in large financial centers.
By establishing localized capacity in India, ComplyAdvantage says that it allows clients to operate closer to their markets, deliver efficient services to end-users, and keep up with regulatory guidelines.