What Everybody Ought to Know About RegTech

Customers, Financial Institutions (FIs) have seen the explosion of FinTech in the last several years. In fact, Financial Institutions are expected to invest more than $118.70 billion on technologies by 2020. RegTech is one of the most recent technologies disrupting the risk and compliance space. The Financial Conduct Authority (FCA) describes RegTech as the "adoption of new technologies to facilitate the delivery of regulatory requirements." Despite the fact that technology has been used to address regulatory requirements, RegTech innovations have enhanced the adoption and utilisation of technology for better and faster outcomes in the financial sector.