Chris Davies: What is 'regtech' and how it can help your compliance?

Subset of fintech

clock • 3 min read

The relatively new idea of 'regtech' comes in many forms, writes Chris Davies, as he takes a look at the now-burgeoning sector and the potential solutions it can offer to advice businesses

The term 'regtech' was coined in 2015 by the Financial Conduct Authority (FCA) which described it as "a subset of fintech that focuses on technologies that may facilitate the delivery of regulatory requirements more efficiently and effectively than existing capabilities".  This sector has really taken off over the past two or three years with investment into regtech surpassing $1bn (£755m) in 2017. This is not surprising when considering the rise in prominence for the compliance and risk management roles within financial service firms since the financial crisis of 2008. Since then, new r...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

AI firm to help advisers build suitability letters in five minutes

AI firm to help advisers build suitability letters in five minutes

‘First in the market’ tool launched to automate suitability letters

Isabel Baxter
clock 27 June 2024 • 1 min read
How tech can solve financial planning's biggest problems

How tech can solve financial planning's biggest problems

Evaluate processes from start to finish from the client's perspective

Scott Daniels
clock 24 June 2024 • 7 min read
The future of advice journeys: Creating a fully joined-up process

The future of advice journeys: Creating a fully joined-up process

All the parts of the chain must work together seamlessly

Nick Eatock
clock 18 June 2024 • 3 min read