RegTech: A magical entity from the FinTech ecosystem

A white paper by Infosys about RegTech

Recent years have seen immense growth of new financial services platforms across all domains, including payments, lending, trading, personal financial management, and more. A majority of these innovative solutions are being enabled by new-age financial technology (FinTech) firms. The emergence of the FinTech ecosystem has truly disrupted the traditional finance service models. Many FinTech companies such as OnDeck Capital, LendingClub, Moven, and iZettle are already enabling immense business value to customers.

Further, recent times have witnessed the emergence of a new breed of FinTech firms under an umbrella concept called RegTech (regulatory technology). These RegTechs enable FIs to comply with the regulatory requirements more effectively and efficiently. RegTechs interweave innovative and robust technology capabilities and regulatory know-how to address the FIs’ compliance management needs. They enable automation of manual compliance processes, enhance compliance reporting capabilities, improve data quality, facilitate holistic data view, and automate data analysis. Their solutions are configurable, nimble, easy to integrate, secure, reliable, and cost-effective. RegTechs are proactive in making sense of new / evolving regulations and understanding ‘what-if’ situations, enabling robust solutions. Markets in Financial Instruments Directive (MiFID) II, Anti-Money Laundering (AML), Know Your Customer (KYC), and trade regulations are just a few examples wherein RegTechs are already providing immense value to FIs.

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