RegTech: An untapped opportunity

Mukund Umalkar
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Mukund Umalkar: Fintech Partnerships, ING Neo, UK

Journal of Digital Banking, 2021, vol. 6, issue 1, 72-82

Abstract: This paper discusses a practitioner’s viewpoint on RegTech (Regulatory Technology) solutions for managing risk and compliance in an organisation. RegTech solutions, which represent an ever-growing category of start-ups and scale-ups, can create value by enabling organisations, both large and small, to efficiently and effectively navigate the complex regulatory landscape. Given significant spend due to regulatory enforcement actions, and investment to comply with regulatory requirements, RegTech firms present an untapped opportunity, especially in large organisations, where non-compliance can be costly. Given the unique constraints of the risk management and compliance activities, however, collaboration between large organisations and RegTech firms can be challenging and requires a unique approach. This paper discusses how to frame the concept of RegTech, important challenges of adoption and potential solutions and presents a perspective of how the future of RegTechs should evolve.

Keywords: RegTech; FinTech; regulation; innovation; platforms; interoperability; data; AI; partnerships (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2021:v:6:i:1:p:72-82

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