Collaborating Authors

RegTech Demystified


RegTech, commonly known as regulatory technology, comprises of all technologies designed to assist companies within the financial industry to comply with regulations. Many of the RegTech solutions primarily focus on anti-money laundering (AML) and know your customer (KYC) regulations. These solutions are designed with high precision levels offered by machine learning technology and artificial intelligence (AI). RegTech solutions cover various functions that include fraud prevention, regulatory change discovery applications, risk management, and KYC. Regulatory changes have increased in volume by almost 500% since the global financial crisis of 2008-09.

Regtech rising: Automating regulation for financial institutions JD Supra


Regulatory compliance is timeconsuming and expensive for both financial institutions and regulators. The volume of information that parties must monitor and evaluate is enormous. The rules are often complex and difficult to understand and apply. And much of the process remains highly labor-intensive, when even the most automated solutions are often incompatible with other systems and, even today, most still depend heavily on manual inputs. As a result, costs have risen significantly for financial institutions in recent years.

How European Banks Are Using RegTech Solutions


Large US and European banks are spending $20 billion a year on technology to help them comply with newly evolving regulations such as MiFID and PSD2. With regulatory environments becoming increasingly complex, 300 million pages of regulatory documents will be published by 2020 & 600 legislative initiatives need to be cataloged by a medium-sized, sell-side institution to have a holistic view of their rulebook – the silos of data generated by various business functions lead to significant resource expenditures on data collection, organization, and analysis. Moreover, between 2008 and 2016, there has been a 500% increase in regulatory changes in developed markets, which has led to 10-15% of the total workforce of FIs working under compliance functions. Meanwhile, an end-to-end RegTech implementation promises 634% in ROI realizable over a three-year period, which is why a range of financial institutions in Europe are actively exploring partnership opportunities with startups across the use cases we will be reviewing further. "The RegTech adoption strategy differs across various tiers of financial institutions.

Regtech – the new kid on the fintech block »


Regulatory compliance has always been and will always be one of the top priorities and concerns of every financial institution (FI). Regulatory reforms following the global financial crisis of 2008 compelled FIs to make substantial investments in risk and compliance – both in terms of technology and headcount – to prevent and remediate regulatory issues. Despite their best efforts, FIs often find themselves falling short of regulatory obligations owing to highly manual processes and silo-based solutions which hinder transparency, efficiency and availability of fast and meaningful data. Non-compliance means being slapped with hefty penalties not to mention consequent reputational damage. Compliance processes today need to be backed up like never before by automation, artificial intelligence and big data – to name a few crucial technologies – to keep up with increasing regulation and stricter enforcement.

Top tech trends that will define fintech this year


It is difficult to imagine modern finance without technology, which is helping players navigate its complicated landscape more efficiently. While bigger and older organisations adopt technology at their own pace, start-ups are blazing new trails – and the two are more often partners than rivals. India is one of the fastest-growing fintech markets. In the new year, the fate of fintech will be shaped as much by evolving regulatory and policy frameworks as by new technologies. With cloud computing banks can eliminate redundant tasks and work more innovatively.