CLUSTERS

RegTech

Automating many outdated compliance and due diligence tasks.

RegTech refers to the convergence of software technology and regulation. As regulatory expectations rise and the focus on data grows, RegTech software solutions allow incumbents to automate many outdated compliance and due diligence tasks, using data that can be tailored to a firm’s risk-based approach. RegTech also focuses on addressing the gap in the market created by the speedy, disruptive forces of the FinTech sector.

Key trends

automated process

Automated processes

big data analytics

Big data analitycs

machine learning2

Machine learning

virtual banking

Virtual banking

sustainability check

Sustainability check

Implications

Rapid response to new regulations.

RegTech addresses the gap in the market created by the speedy, disruptive forces of the FinTech sector.

Massive efficiency gains.

The wave of regulatory automation is likely to bring more agility, speed, integration and advanced analytics into existing processes. This will limit the need to manually execute of tasks.

Mass customization.

Ability to customize the regulatory and due diligence approach for a firm’s risk-based approach.

Two key questions

1

Which areas promise the most potential for efficiency wins with respect to RegTech?

2

Can RegTech softwares use social media and biometrics to transform how customer due diligence is done?