As the financial regulatory space continues to witness disruptions due to the COVID-19 pandemic and its impact on business digitalisation, organisations in the sector are relying on state-of-the-art Regtech offerings to help them traverse the evolving compliance arena. A prime example of the rising significance of Regtech is its increasing adoption by global banks to consolidate the management of cross-border regulations and deliver a compliant user experience. At the same time, with growing concerns over data security and privacy, financial institutes are also leveraging next-gen Regtech offerings to predict imminent mandates and assess its impact on upcoming strategies.
From simplifying the process of maintaining compliance with emerging regulations to automating compliance processes and minimising human error, Regtech has already become a mainstay in the finance arena. Looking ahead, the Regtech solution arena is poised to develop an ecosystem that accurately predicts upcoming regulations and seamlessly notifies C-suites on how to augment their current strategies to best capitalise the potential opportunities. Above all, Regtech solutions are ushering in a future where companies have automated compliance processes powering highly productive and cost-effective operations.
Though the market is brimming with regtech companies, finding the right one is an arduous task. This edition of Banking CIO Outlook has assessed and shortlisted some of the most prominent organisations in the industry that solve challenges by implementing the current technologies trends in the space. Through this special edition, we present to you Banking CIO Outlook’s ‘Top 5 Regtech Solution Providers in UK – 2021.’
