Regtech

What is Regtech?

Regulatory technology (Regtech) is a rapidly growing area that involves the use of technology to facilitate compliance with regulatory requirements in various industries. Regtech solutions are designed to help businesses and organisations comply with the complex and constantly evolving regulatory landscape by streamlining and automating compliance processes.

Regtech solutions use a range of technologies, including artificial intelligence, machine learning, blockchain, and data analytics; These technologies are used to develop software platforms and tools that enable businesses to monitor and analyse their compliance efforts in real time, detect and mitigate risks, and ensure adherence to regulatory requirements.

Regtech is a promising and rapidly evolving field that has the potential to transform the way businesses and regulators approach compliance. As technology continues to advance, Regtech solutions are likely to become even more sophisticated and effective, helping businesses and regulators keep up with the ever-changing regulatory landscape. Client onboarding, due diligence, Identity and address verification products are designed to help businesses and organisations assess and manage the regulatory risks associated with potential business partners, investments, or mergers and acquisitions.

The Innovation Hub has an objective to advocate for industry adoption of Regtech. We provide regulatory guidance around adoption and are involved in several initiatives to reduce the barriers to adoption. Please reach out to the Innovation Hub if you have any questions regarding this topic.

Common use cases

  • Identity and verification
  • CDD, KYC, and KYB
  • Customer onboarding and lifecycle management
  • Financial crime risk assessment
  • Screening and EDD
  • Transaction monitoring
  • End-to-end anti-money laundering
  • Regulatory horizon scanning
  • Regulatory reporting tools

Useful links to topic

The following resources can provide insights and guidance for companies, regulators, and policymakers looking to implement Regtech solutions and improve operational efficiency and regulatory compliance.

The RegTech Association

A non-profit organisation bringing together government, regulators and regulated entities globally: Useful resources including events, reports, case studies and podcasts.

The RegTech Association - Home (regtechglobal.org)

The World Economic Forum: White paper on Regtech for the 21st century

A useful whitepaper exploring the value of Regtech through case studies.

Regulatory Technology for the 21st Century | World Economic Forum (weforum.org)

A user’s guide to Regtech from KPMG

KPMG report that defines Regtech and provides a useful taxonomy, use cases and trends.

A user's guide to Regtech