RegTech, or Regulatory Technology, is a growing field in financial services, utilizing information technology to boost compliance and monitoring. Emerging post the 2008 financial crisis, it’s pivotal for handling regulatory shifts and enhancing systems. RegTech aids in ensuring regulatory adherence, minimising human error through automation, thus fostering smoother transactions. Source
Leveraging tools like blockchain and big data, RegTech streamlines functions such as reporting, compliance, and identity management, assisting in meeting AML and KYC standards. By facilitating proactive risk management and data analysis, RegTech can improve customer experiences while ensuring robust operational health against regulatory breaches. Is your financial institution ready to embrace RegTech innovations? Join the conversation!
