AI-powered regtech set for global growth after expanding workforce by 46%

A London firm specialising in regulatory technology for businesses has announced plans for further international expansion following a period of growth.

TAINA Technology has grown its workforce by 46 per cent in 2020, despite the disruption caused by COVID-19 and the subsequent lockdown.

Founded by tax lawyer Maria Scott, TAINA uses machine learning to allow businesses to streamline the validation of tax forms.

The firm, which has already established a presence in both the UK and US, has plans to expand globally into new markets.

TAINA Technology founder, Maria Scott, explained: “As a tax lawyer, I know from first-hand experience the burden that regulatory compliance procedures place on businesses.

“TAINA helps automate some of the most painful elements of compliance (FATCA and CRS), reducing cost and risk, while improving customers’ experience and streamlining their onboarding. Now, it is more vital than ever that we harness the power of technology to cope with the challenges brought by the pandemic.

“With support from our adviser at the Department for International Trade and our brilliant teams in London and New York, we have established and grown TAINA in the US and the UK. Our next hub is going to be in Switzerland, followed by Australia.”

Minister for Exports, Graham Stuart, added: “I’d like to congratulate founder, Maria Scott, and TAINA Technology for their success in entering and growing quickly in supplying US financial services businesses.

“TAINA is a stand out example of the UK’s many world-class tech exporters and should give confidence to others to export to the USA.

“The UK digital sector is growing much faster than the rest of the economy and DIT’s dedicated teams in the UK and overseas are ready to help grow UK tech exports and lower barriers to market entry by negotiating Free Trade Agreements, leading trade missions, and helping firms with contacts and selling opportunities.”