Note from the CEO: Regulation is becoming much more cumbersome and time consuming, not to mention costly. New RegTech firms are popping up to provide solutions for financial firms, especially those in the international space. A new “sandbox” to play in and watch for the biggest market players to step in soon.
“As more innovative technology solutions become available, financial institutions are seeking to adopt Regulation Technology (RegTech) to meet their compliance requirements. There are number of key trends taking place in the RegTech industry globally. These trends include:
Increased regulatory demands – Since the economic crisis the huge increase in regulation throughout the financial services industry has lead to a drive for operational efficiency and better cost management. Regulators are demanding more advanced governance and data management, as well as enhanced reporting and operational processes.”