Regulation is one of a number of services to receive
the “Tech” treatment in recent times. As with its
bigger brother FinTech, the definition of RegTech
will mean different things to different people in this
developing area. While the name is new, the marriage
of technology and regulation to address regulatory
challenges has existed for some time with varying
degrees of success. Increasing levels of regulation and
a greater focus on data and reporting has however
brought the RegTech offering into greater focus thereby
creating more value for the firms that invest in these
solutions.
In this article, based on our research and interviews
with RegTech companies, Lory Kehoe, Senior Manager
in Strategy & Operations Financial Services Consulting,
seeks to explore how firms can benefit from regulatory
technology and in particular how they can leverage
regulatory focused data to better understand and
manage their compliance risks. Furthermore we seek
to highlight:
• RegTech solutions (and underlying technology) which
are becoming more prominent in the market
• The benefits of RegTech
• The significance of the experienced financial services
professional in the RegTech / FinTech era
• Why Dublin has some work to do to establish itself as
a RegTech / FinTech friendly location
• How best to leverage RegTech to plot your Regulatory
journey for the future
Regulation is one of a number of services to receive the “Tech” treatment in recent times. As with its bigger brother FinTech, the definition of RegTech will mean different things to different people in this developing area. While the name is new, the marriage of technology and regulation to address regulatory challenges has existed for some time with varying degrees of success. Increasing levels of regulation and a greater focus on data and reporting has however brought the RegTech offering into greater focus thereby creating more value for the firms that invest in these solutions. In this article, based on our research and interviews with RegTech companies, Lory Kehoe, Senior Manager in Strategy & Operations Financial Services Consulting, seeks to explore how firms can benefit from regulatory technology and in particular how they can leverage regulatory focused data to better understand and manage their compliance risks. Furthermore we seek to highlight:• RegTech solutions (and underlying technology) which are becoming more prominent in the market• The benefits of RegTech• The significance of the experienced financial services professional in the RegTech / FinTech era• Why Dublin has some work to do to establish itself as a RegTech / FinTech friendly location• How best to leverage RegTech to plot your Regulatory journey for the future
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