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RegTech: An untapped opportunity

Author

Listed:
  • Umalkar, Mukund

    (Fintech Partnerships, ING Neo, UK)

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.

Suggested Citation

  • Umalkar, Mukund, 2021. "RegTech: An untapped opportunity," Journal of Digital Banking, Henry Stewart Publications, vol. 6(1), pages 72-82, June.
    • Handle: RePEc:aza:jdb000:y:2021:v:6:i:1:p:72-82
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    Cited by:

    1. Teichmann, Fabian & Boticiu, Sonia & Sergi, Bruno S., 2023. "RegTech – Potential benefits and challenges for businesses," Technology in Society, Elsevier, vol. 72(C).

    More about this item

    Keywords

    RegTech; FinTech; regulation; innovation; platforms; interoperability; data; AI; partnerships;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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