As CEO and co-founder of PassFort, Donald Gillies is shaping the second wave of RegTech. His vision is to digitally transform the way compliance professionals work, breaking the compromise between compliance and customer experience in the fight against financial crime.
Donald has been recognised by both the UK Centre for Entrepreneurs and Entrepreneurial Scotland as one of the UK’s leaders of the future.
Having graduated with an accelerated degree in Financial Economics from the University of St Andrews, he began his career in financial services working for a global private equity fund. Working with portfolio companies following investment, he developed a strong interest in how technology would shape the digital economy.
Taking his first steps as an entrepreneur, it was on a year long FinTech secondment through the New Entrepreneur Foundation the experience of the problem PassFort now solves was felt. Donald experienced first hand the challenges regulated businesses faced when trying to balance compliance requirements with customer experience.
He met his PassFort co-founder, Henry Irish, on the prestigious Entrepreneur First accelerator. Together they have built a SaaS company that world-leading financial institutions now use to establish trust with their customers.
Hear what Donald had to say to Ian King, on his Sky news show, October 2021
Watch the video below to hear Donald Gillies talk about the rise of RegTech in response to the increasing cost of KYC and AML compliance to financial institutions.