In the dynamic business landscape, RegTech faces the ongoing challenge of balancing compliance costs, streamlining processes, and meeting customer expectations—crucial for staying competitive in today’s fast-paced environment.
RegTech enhances daily operations by securing data, detecting fraud swiftly, and empowering businesses with AI-driven insights, simplifying and ensuring safer transactions.
The RegTech Landscape
RegTechs began in finance, expanded to government, telco, and energy. 80% of Australian investment is cross-sector, emphasizing their relevance.
Western Australia: An emerging RegTech hub
Australia hosts the 3rd highest number of global Regtech companies, with Western Australia (WA) contributing significantly. Amid global uncertainties, WA’s commitment to digital innovation is evident through its 10-year Innovation Strategy Initiative for global impact.
In dynamic business, RegTech balances compliance costs, streamlines processes, meets customer expectations—essential for competitive success.
A leader in RegTech Solutions
Scantek, a top identity verification leader, excels in frictionless KYC solutions with advanced biometrics and machine learning.
What is RegTech, and why is it so important?
RegTech is any technology that uses information technology (IT) to enhance a company’s regulatory processes. Whilst this sounds simple, there are several considerations before investing in RegTech:
- Cost: Streamlining processes resulting in cost efficiency
- Customer: Improving customer experience
- Compliance: Enabling and evidencing regulatory compliance.
Scantek’s Venue Entry ensures regulatory compliance by maintaining a single source of truth for customer information in licensed venues across Australia.
What is Venue Entry?
Venue Entry, the latest compliance tool, utilizes iPad, OCR, and machine learning for swift and precise patron identity verification, flagging ID issues instantly.
Venue Entry: Scan physical/digital IDs, create bans, access Scantek’s 30,000+ bans for comprehensive venue security.
How Scantek helps
Scantek’s Venue Entry: Mobile identity verification with OCR and machine learning for touchless, compliant, and speedy results.
Ease of Use
Scantek’s Venue Entry, a mobile solution, streamlines ID verification with OCR and machine learning, revolutionizing venue security for hassle-free checks anytime, anywhere.
Real-time speed
Venue Entry users get instant scans, alerting staff about verification issues or bans through advanced, constantly updating machine learning for accuracy.
Prevent entry to banned patrons
Venue Entry deters antisocial behavior, ensuring a safer and enjoyable environment with Police, Government, and 30,000+ active venue bans. Simplify entry management effortlessly.
Guaranteed security
Venue Entry enhances security, barring banned patrons, detecting fake IDs, and safeguarding against underage entry, ensuring a safer environment and compliance.
Paving the way in RegTech
Scantek’s Venue Entry: RegTech leader, Nightlife ID + facial recognition for superior security in Australian venues.
To learn more about Venue Entry or to experience the technology, you can request a demo or contact the friendly team at Scantek.