In the last few years, we have seen a voluminous increase in the growth of FinTech and it has taken over the world ever since. It is responsible for disrupting the entire financial services industry including finance, insurance, banking, payment and even customer service. The FinTech revolution is not expected to slow down any time soon.
With the increase of digitization of the financial industry, the levels of regulation are also increasing and so comes #RegTech. It is widely being speculated as the new FinTech.
But what exactly is “RegTech”? It is actually an emerging technology that is expected to assist in the compliance and regulatory activities in an easier, faster and more efficient way. It is the missing link that connects technology, financial services, FinTech, and regulations.
Let us have a look at some of the latest updates on RegTech:
Yes. At the very least, #RegTech will automate manual processes which not only reduces time, but also reduce the risk of non-#compliance. https://t.co/i9O3r8PA9B
— Lucy Heavens (@heavens_lucy) June 18, 2018
Great map of startups leveraging the #blockchain technology in #RegTech. #InsurTech
➡️ https://t.co/P4SyBEbLlI pic.twitter.com/P8ofhr881L
— Florian Graillot (@FGraillot) June 16, 2018
#RegTech is absolutely not just back office technology – it can be a driver for business #growth and can open access to new revenue streams and unlock business opportunities! pic.twitter.com/cdjN5VaTVS
— Matt Elton (@fintech_matt) June 10, 2018
Tal Cohen, leading the crypto effort at @Nasdaq, believes #RegTech is in a “massive boom” due to the regulatory uncertainty involved in trading global #crypto assets across different regulatory jurisdictions. @canaanpartners FinTech Central pic.twitter.com/BKDHTyI4jT
— Ben Spiegelman (@THE_BES_BS) June 14, 2018
#RegTech aim to improve behavior monitoring w/ #AI to identify unusual activities >> #PwC via @MikeQuindazzi >> #FinTech #Insurtech #IoT #BigData #DataScience #MachineLearning #DeepLearning >> https://t.co/Pejyg4RC53 HT: @MIKEQUINDAZZI pic.twitter.com/fbgF8AFlCw
— Amelia Davidson (@ai_amelia_) June 18, 2018
The #Blockchain #RegTech Ecosystem
We're not doing this because someone told us to, it's because it's the right thing to do. The balance between promoting innovation, and not the fraud is difficult, but making progress thanks to great teams like these!https://t.co/jbRyKLaj6T pic.twitter.com/UFBF3HIC2z
— Malthus John (@MalthusJohn) June 12, 2018
65% of #regtech funding is directed to #financial #crimes solutions >> #PwC via @MikeQuindazzi >> #FinTech #AML #AI #CyberSecurity #IoT >> https://t.co/Fqv0X0LAaC pic.twitter.com/eVjnJh9KE3
— Mike Quindazzi ✨ (@MikeQuindazzi) June 12, 2018
jasonboud RT Cocoon_Networks: Insightful overview of financial regulation technology from JasonBoud, founder and CEO at rt_associates: “#RegTech helps to address the problems with market abuse, behaviour and conduct, financial crime, money laundering and terrorist funding.” …
— RegTech Associates (@rt_associates) June 12, 2018
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