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Adopting RegTech: A practical guide

Author

Listed:
  • Singh, Harpreet

    (Global Lead, Post-Trade Solutions, BCM, Luxoft Financial Services, UK)

Abstract

As the regulatory burden increased over the last decade, financial institutions aimed to consolidate their regulatory solution to improve efficiency and enhance compliance. RegTech grew as a segment with multiple vendors, financial institutions and regulators all working together to find solutions that would enable adherence to the rules. Newer technologies such as cloud, artificial intelligence (AI) and data analytics began to dominate, with further innovations making regulatory systems more foolproof. Underpinning these advancements is the ability of the RegTech system to improve data management. In return, data quality enhancements provide reliable AI and more trustworthy RegTech systems. This paper analyses insights from global regulators on RegTech and underlying technologies, and provides practical guidance for implementation.

Suggested Citation

  • Singh, Harpreet, 2022. "Adopting RegTech: A practical guide," Journal of Financial Compliance, Henry Stewart Publications, vol. 6(1), pages 80-94, September.
    • Handle: RePEc:aza:jfc000:y:2022:v:6:i:1:p:80-94
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    More about this item

    Keywords

    RegTech; SupTech; cloud; artificial intelligence (AI); banking and capital markets; digital technology; regulatory systems; regulation; compliance; data quality; financial services; DaaS; IaaS; PaaS; SaaS;
    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
    • K2 - Law and Economics - - Regulation and Business Law

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