IT startup has received a million investment to combat money laundering: "Suddenly you have a dad with deep pockets."

The company Meo has caught several big fish in the legal industry. Now, the firm, which creates solutions for combating money laundering, also wants to cast its line among smaller lawyers.

Why is it that my local pizzeria has a smiley scheme, which should assure me as a consumer, while there is complete lack of transparency in how companies in the finance industry handle my deeply personal information?

UK digital compliance and Regtech welcomes a new incumbent as Copenhagen KYC data management and ‘secure information exchange’ platform NewBanking Identity launches its initial market services. The announcement sees NewBanking launch its compliance services outside of Scandinavian jurisdictions, where its flagship secure information exchange has been utilised by professional services institutions including law firms Plesner, Bech Brunn and Danish credit agency KommuneKredit.

With a highly secure and market leading SaaS-solution to the problem, the Danish regtech scale-up, NewBanking Identity, which is supported by the prestigious PwC Legal Tech Scale-up Programme, is now entering the UK market.

Meo has been named as one of the top 100 most innovative companies in its field, regtech - technology within regulation - by Regtech100.