The promise of RegTech

Article

The promise of RegTech

Elevating regulatory risk management in the financial industry to an effective business management practice

Executive Summary

The sheer volume and complexity of new and existing regulations have had the unintended consequence of encouraging financial service providers to focus on compliance rather than innovation. In parallel, firms have been cautious to innovate because of regulatory uncertainties underlying the development of new products and the deployment of pioneering technology. This has led to the emergence of promising technology companies targeting the regulatory environment to support efficient compliance management from an IT perspective. In our article we will discuss the role played by RegTech companies in helping incumbents cope with regulatory burdens and the related economic and social impact. Furthermore, we highlight the role regulators can play in facilitating innovation.

Inside Magazine - EU edition 2017

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