RegTech is quickly blossoming into an industry of significant size and importance. Since the 2008 financial crisis, government institutions have unleashed a relentless wave of regulations for diverse industries. Stifled by legacy infrastructure and bureaucratic processes, firms are turning to RegTech solutions that leverage software and automation to close compliance gaps and address other regulatory challenges. Pending financial regulations like GDPR, PSD2, and MiFID II/MIFIR have firms scrambling to build compliant solutions.
RegTech solution providers make it easy for the companies to keep up with compliance to avoid hefty fees or legal penalties and to keep their compliance management costs low. With the sheer number of financial regulations in place around the globe, RegTech providers help organizations under heavy regulation and making costly mistakes. With the technology-based solutions provided by RegTech institutions, companies can digitize and automate their compliance processes, collect the data, and produce reports in the formats prescribed by the governing bodies.
To meet the need for better and more efficient regulation of businesses, an emerging crop of RegTech solution providers are building tools aimed at helping companies improve compliance, mitigate risk, and streamline processes. The benefits of harboring these new RegTech solutions are far-reaching, and the organization should be able to find the right RegTech solution provider to assist them with compliance and regulatory needs.
In this edition, we at APAC CIO Outlook have reviewed hundreds of technology solution providers in the RegTech arena and shortlisted the ones that are at the forefront of tackling the challenges, to help CIOs in choosing the right solution for their enterprises.
APAC CIO Outlook presents to you the ‘Top 10 RegTech Solution Providers 2019.’