GRC traditionally used to be siloed, and the technology underpinning it, monolithic. How is the nature of varied risks encountered by organizations and financial institutions shifting in the changed circumstances? Post the global financial crisis of 2008, risk management as a function has evolved in shape and form, becoming a business imperative. Fast forward to 2021, and our world is going through a series of dramatic changes, as the ripple effect of unprecedented and potentially catastrophic events, like the COVID-19 pandemic. As a consequence, the global landscape of Governance, Risk, and Compliance (GRC) is becoming increasingly complex.

A video created by Deloitte Consulting some moons ago aptly describes why Regulatory Tech or RegTech as it was affectionately called would go beyond being just a part of FinTech. In other words, it has moved way beyond being just a buzzword half-a-decade ago, thanks to ever-increasing costs of compliance coupled with the growing list of stringent regulations in the entrepreneurial world. Today there are several players who offer these solutions with real-time compliance analytics that support enterprises and regulators while protecting consumer interests. One such name is Bahwan CyberTek, a player that ideates on new regulations and risk management principles and brings innovative solutions to meet the ever increasing demands of compliance within the financial industry. In an exclusive interaction with CXOToday, Jaya Vaidhyanathan, President, Bahwan CyberTek, explains why RegTech is on the rise and why it matters in the age of compliance.

Digital transformation and modern technologies have impacted every single industry that exists, and the banking industry is no different. In fact, technology has touched upon the banking industry to such a large extent that the union of both has given birth to what is now called'FinTech'. In an interview with DataQuest, Jaya Vaidhyanathan, President, Bahwan CyberTek, gives insights on how new age technologies such as artificial intelligence, machine learning and so on are revolutionizing FinTech, and what more consumers can expect on the same in future. How are new age technologies like artificial intelligence, machine learning, predictive analytics and blockchain transforming the FinTech Space? Technology has impacted the financial sector in such a massive way that it has brought about the union of two industries calling it – Financial Technology (FinTech).