GraffitiSoup #43 – RegTech, more than just the new FinTech
Highly regulated industries such as Banking, Finance and Pharmaceuticals have a unique position where they have independent legislation that they have to adhere to, to protect customers best interests.
Regulatory technology, also known as “RegTech” is using technology, particularly information technology, in the context of regulatory monitoring, reporting and compliance benefiting, in the immediate future, the finance industry.
Here are a selection of articles that may shed some light on what RegTech means for industry and consumer alike.
RegTech is the new Fintech – https://www2.deloitte.com/ie/en/pages/financial-services/articles/RegTech-is-the-new-FinTech.html – How agile regulatory technology is helping firms better understand and manage their risks
Regtech next Fintech – http://www.wired.co.uk/article/regtech-next-fintech – What is RegTech? The latest wave of startups hitting the FinTech industry. A new wave of technology is emerging to help companies understand rules and manage their risks
Innovating with RegTech – http://www.ey.com/Publication/vwLUAssets/EY-Innovating-with-RegTech/$FILE/EY-Innovating-with-RegTech.pdf – Innovating with RegTech. Turning Regulatory compliance into a competitive advantage.
Maturing RegTech Industry Finding Role Alongside Fintech Financial Institutions – https://oneworldidentity.com/2017/04/21/maturing-regtech-industry-finding-role-alongside-fintech-financial-institutions/ – Jumio, which offers a “hybrid” approach and counts Airbnb among its clients, says it has become familiar with 3,000 different types of onboarding identity documents from all over the planet, and currently does some 110,000 verifications a day.
FCA Outlines Fintech and RegTech priorities – http://www.lexology.com/library/detail.aspx?g=2993e441-a5b0-4321-afd1-576b48cc42f5 – FCA outlines FinTech and RegTech priorities for year ahead.
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