SteelEye's CEO and Co-founder, Matt Smith, has been named the RegTech Industry Professional of the Year by RegTech Insight in recognition of his contribution to the global financial services industry.
In just over five years, Matt has taken SteelEye from a two-person operation to a well-funded and flourishing organization with 100+ employees. Currently, SteelEye has 140+ clients worldwide, and the organization has established itself as a well-respected global vendor in the trade and communications surveillance software space.
Beyond the commercial success Matt has led SteelEye to, he has brought a wide array of intangible traits to the organization, which have helped create a truly unique company culture.
If you were to ask SteelEye employees what they view as Matt’s greatest accomplishment while at the organization's helm, many would point to his ability to grow the business in such a short time. Equally though, many employees would reference the inclusive culture he has built and the investment he has made into the growth and well-being of each of SteelEye’s team members.
Matt’s leadership and long-term vision have also been instrumental in the company’s ability to attract top talent. In recent months, SteelEye welcomed Chris Pennington as its Chief Revenue Officer, who comes to the organization with over 30 years of experience in big tech, having held senior roles at Microsoft and Google before joining SteelEye. Prior to this, SteelEye was also able to recruit RegTech veteran Brian Lynch to oversee its North American operations. Brian’s industry experience is second to none, as he has spent the last 25 years innovating, building, and implementing technology solutions within the financial services space. Onboarding talent at the caliber of Pennington and Lynch, among others, is a testament to Matt’s ability to not only develop strong industry solutions but also attract top talent.
Angela Wilbraham, CEO at A-Team Group and host of the RegTech Insight Awards Europe 2023, commented, “These awards celebrate both established solution providers and innovative newcomers of RegTech solutions, services, and consultancy to capital markets in Europe. Many congratulations to Matt Smith for winning RegTech Industry Professional of the Year in recognition of his contribution to the global financial services industry. Matt should be deservedly proud of his achievement.”
What does this recognition mean to you?
Matt Smith: When I look at our business, I rarely look at myself. I look at the team we have built and the inspiring individuals at SteelEye. One of the most important facets of our growth has been finding the right talent and bringing talented people together. I see this as my greatest achievement, and this award means I have succeeded in bringing phenomenal people together who are doing things that are meaningful for our industry.
What advice would you give to other entrepreneurs looking to make a similar impact in the industry?
Matt Smith: My advice would be to focus on people. This means building strong relationships with clients, employees, partners, and associates. It also means supporting individuals who will do the same for you. Building strong relationships takes time and effort but is the key to success in any industry.
Why does SteelEye stand out in the industry?
Matt Smith: We set out to revolutionize how financial services firms achieve regulatory compliance and make it easy for our clients to accurately comply with financial regulations. We wanted to simplify complex problems, reduce overhead, and make compliance professionals' lives easier, and I believe we have been able to achieve that.
Our focus has always been on data – this is the overarching problem and solution to regulatory compliance. During my time implementing compliance solutions at trading firms and building them for vendors, I noticed that data prevented firms from accurately and efficiently meeting their regulatory obligations. This first-hand experience and insight made me and my co-founders realize there was a need for a data-driven compliance and surveillance platform – so we built SteelEye.
Today, SteelEye is the only fully integrated trade and communications surveillance solution on the market. We empower firms with the data-driven tools and complete insights they need to focus on what matters, all from a single platform.
What exciting developments can we expect for RegTech and for SteelEye in the near future?
Matt Smith: The RegTech and FinTech industry has been reforming how financial firms solve complicated problems, and we see this in all areas of financial services.
Within the RegTech sector, we are seeing more widespread acceptance to adopt new-age solutions like SteelEye. Through the embrace we have received from the industry, we know that our platform helps financial firms simplify their compliance processes and do things with data they weren’t able to do before.
At SteelEye, we are focused on expanding our global footprint and supporting financial institutions worldwide. We are also working on new products and services that will help our clients stay ahead of regulatory change and their growing compliance requirements. Our software continues to evolve, and we invest heavily in maintaining our leading-edge capability, most recently by integrating ChatGPT into our surveillance solution.
What are you most proud of on your journey with SteelEye?
Matt Smith: I'm most proud of building a team of talented individuals who are dedicated to SteelEye's mission and who work together to achieve success. The quality of the people we have at SteelEye is a testament to the strong culture that we have built.
SteelEye is hiring across its global offices! If SteelEye sounds like a place where you would like to work, please see the open roles on the SteelEye careers page.