As technology continues to evolve each passing day, there are various impressive changes to RegTech on the horizon. Regardless of whether it’s making identity verification more straightforward for clients, utilizing AI to detect fraud, or blockchain technology to prevent money laundering, RegTech industry is exploring new dimensions of technology. Banks have started to explore RegTech’s capability to assist them in staying aware of the appeal of consistent financial regulations changes and is expected to see more development in the years ahead.
Financial institutions, banks, and other regulated entities are deploying RegTech solutions customized according to industry risk assessments to avoid substantial penalties. Also, in a time of exalted regulatory pressure, RegTech consulting specialists are presenting governance and compliance offerings to ensure the viable performance of activity and business for financial institutions. In 2020, the cloud is expected to become core to deliveries in regulatory compliance as RegTech deployment on the cloud is picking up speed. Creative cloud-based services are taking shape, as the RegTech gets a strong foothold within the compliance landscape.
Additionally, the persistent digital transformation of regulations creates a steady position as digitalizing-text-based compliance manuals into compelling digital regulatory data emerges as a powerful facilitator. The automation of compliance will also minimize the risks of human error, reduce operational costs, and supervisory controls by proving a robust system of compliance and organizational agility. While ROI is a standard benchmark for business performance, RegTech is fast becoming imperative for measuring the regulatory impact and viability of business decisions and commercial initiatives. With the right solutions in place, high-risk factors can be determined at the click of a button.
This edition of APAC CIO Outlook comprises a list of leading RegTech players to help companies navigate through the best-of-breed service and solution providers. The enlisted organizations are transforming processes and services at the convergence of several disruptive technologies. Besides, the edition also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CXOs.
We present to you APAC CIO Outlook’s “Top 10 RegTech Consulting/Services Companies - 2020”
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