Quiet closure with no public announcement · Fatal mistake: SIB supervised only 19 banks in the Dominican Republic; all 19 used local IT firms with personal compliance relationships developed over decades
Evaluating only RegDOM’s profile at its peak — without knowing the outcome — the model ranked Market too small as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
FUNDING
MILESTONE
CRISIS
SHUTDOWN
Full Analysis
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Documented cause
RegDOM built AML compliance tools for the Dominican Republic's 19 SIB-supervised banks. The company reached 2 clients. Dominican bank compliance procurement was governed by 15-20 year relationships with local IT firms that provided personal service and understood Dominican regulatory specifics. Switching costs were prohibitively high — each bank's compliance history was stored in the incumbent system.
Lesson
“RegTech in the Dominican Republic must target the Superintendencia de Seguros (insurance) or SIBOIF credit cooperatives — these are underserved by the existing IT compliance providers that dominate banking.”
Failure anatomy
Collapse type
Silent Shutdown
🐌 LOW
Hype cycle
None
Moat type
Technology
Fatal mistake
SIB supervised only 19 banks in the Dominican Republic; all 19 used local IT firms with personal compliance relationships developed over decades