RegTech: A New Name for an Old Friend

With all of the buzz around regtech, it's easy to forget that banks have leveraged technology for compliance and reporting for decades. But thanks to recent developments in data architecture, artificial intelligence and more, regtech is on the rise, and it's evolving into something a lot more sophisticated. The definition of regtech is simple. According to New-York-based analytics firm CB Insights, regtech is "technology that addresses regulatory challenges and facilitates the delivery of compliance requirements." Regtech can be as simple as using an Excel spreadsheet for financial reporting or as complex as using adaptive algorithms to monitor markets.