FinScan Payments wins 2025 Finovate Award for Best RegTech Solution

October 21, 2025 – FinScan, an Innovative Systems solution, today announced that FinScan Payments has been named the winner of the 2025 Finovate Award for Best RegTech Solution, recognizing its leadership in advancing regulatory technology and transaction screening innovation.

FinScan Payments earned the distinction for redefining real-time transaction screening with its risk-based configuration, intelligent alert management, and sub-300 millisecond processing speeds across any payment rail. Designed for banks, credit unions, and fintechs, the platform helps institutions block high-risk transactions and prevent fines—without disrupting payments or customer experiences. 

Celebrating the best in fintech innovation 

The Finovate Awards celebrate the financial institutions and technology providers driving the future of fintech across 30 categories, including payments, lending, financial inclusion, and user experience. Winners are selected by a diverse panel of fintech and banking experts, honoring solutions that deliver measurable innovation and real-world impact. With over 15 years of history, Finovate remains uniquely positioned to honor transformative achievements across the global fintech ecosystem. 

Read the full FinScan Payments winner profile. 

Transforming payment screening with risk-based intelligence  

Unlike conventional one-size-fits-all screening systems, FinScan Payments enables institutions to configure controls around their specific risk appetite. By aligning transaction screening with business context, jurisdiction, and proprietary data, the platform reduces irrelevant matches—sometimes up to eight times fewer than competing systems—allowing analysts to focus on genuine risks. 

This risk-aligned configuration directly supports regulatory confidence, strengthens audit readiness, and improves both compliance and operational outcomes. 

Latest enhancements  

High-volume, high-speed payment environments demand precision that balances speed with compliance. Recent updates to FinScan Payments include:  

• Expanded coverage: Now supporting IACH and Fedwire (ISO 20022)  

• Enhanced conditional screening: Advanced rules to flag high-risk payments based on thresholds, corridors, block lists, transaction type, or customer risk level  

• User experience upgrades: Simplified configuration for conditional screening at the application level  

• Improved reporting: Full transaction status history, including peer reviews, in enhanced screening reports 

Meeting evolving global demand 

“FinScan Payments delivers the agility, transparency, and precision financial institutions and fintechs need to keep pace with the speed of modern payments and regulatory change,” said Deborah Overdeput, Chief Operating Officer at Innovative Systems. “This award is a testament to our team’s relentless focus on innovation that empowers clients to meet compliance demands while enabling growth.” 

FinScan Payments is trusted by top global financial institutions, including tier-one banks, leading neobanks, and payment processors that have achieved up to 62% fewer false positives, 90% faster reviews, and 99% straight-through processing after implementation. 

Press contact:   

Chanda Shingadia The Comms Crowd Email: chanda@commscrowd.com Phone: +44 (0)7951 163 615