Adopting RegTech: A practical guide

As the regulatory burden increased over the last decade, financial institutions aimed to consolidate their regulatory solution to improve efficiency and enhance compliance. RegTech grew as a segment with multiple vendors, financial institutions and regulators all working together to find solutions that would enable adherence to the rules. Newer technologies such as cloud, artificial intelligence (AI) and data analytics began to dominate, with further innovations making regulatory systems more foolproof. Underpinning these advancements is the ability of the RegTech system to improve data management. In return, data quality enhancements provide reliable AI and more trustworthy RegTech systems. This paper analyses insights from global regulators on RegTech and underlying technologies, and provides practical guidance for implementation.