Regtech has become a mission-critical aspect for financial institutions as they are bombarded with expensive and complicated regulatory requirements. Due to the heightened demand for efficient technology and solutions, huge investments are being made in Regtech companies. Companies need to choose the best solution that has the ability to overcome the different regulatory challenges faced by their compliance and risk teams and at the same time, save costs and reduce risks.
As regulatory requirements and industry standards vary between countries, Regtech offers a common platform for monitoring cross-border business and helps companies comply with countless rules. Headline makers like Brexit along with concerns around privacy, cybersecurity, and cryptocurrency are capturing the focus of regulators and causing a lot of activity in the Regtech industry.
The financial sector is witnessing an increase in data privacy laws and new regulations around security due to the growing frequency of cyberattacks against banking firms. Understanding the changing times, Regtech vendors are developing innovative solutions to keep up with the evolving regulatory requirements. With Regtech gaining momentum, financial institutions need to choose technology that assures data security and impacts their business positively in the present and the future.
On that note, this edition of Banking CIO Outlook brings to you some of the best names in the Regtech space that are at the forefront of tackling the regulatory challenges that enterprises face today.
We present to you Banking CIO Outlook’s, “Top 5 Regtech Solution Providers in UK - 2020.”
