Senior Management at financial institutions never was more in need of understanding the trends that shape the industry. In an always more complex world, the developments that define success and failure might be evident but still difficult to interpret.
Financial technology certainly is one of the great trends that has transformed financial services but not only in the application of new payment systems, robo-advisory, budgeting apps or crowdfunding, to name just a few. It is the wider application of innovative technology like data analytics, artificial intelligence or cloud computing that touches upon all areas of finance.
This holds also true for the management of regulatory obligations and compliance. RegTech (as in Regulatory Technology) is the magic word that promises the solution to banks’ billion-dollar problems and huge amounts are invested in firms developing RegTech solutions.
Still, as with Fintech, RegTech spans across various areas and business aspects, so it is not enough to simply understand the importance of RegTech in general. Instead, a more refined knowledge of the key trends for the foreseeable future and beyond is what senior management needs in order to make informed decisions.
Cappitech, a leading provider of regulatory reporting and intelligence solutions for the financial services industry, has spoken to 10 industry experts to get their insights on what they believe will impact the regtech industry and regulatory reporting communities over the next year and beyond. You can find their predictions here.