WHAT

IS REGTECH?

Regulation Technology or RegTech encompasses any technological
innovation that helps improve efficiency and transparency in regulation.

It encompasses 4 Key Characteristics: Speed, Agility, Analytics & Integration. 

SPEED

Reports can be
configured and
generated quickly

AGILITY

Cluttered and intertwined data sets can be decoupled and organised through ETL (Extract, Transform, Load) Technology 
 

ANALYTICS

RegTech uses analytic tools to intelligently mine existing "big
data" data sets and unlock their true potential e.g. using the same data for multiple purposes

INTEGRATION

It offers short
timeframes to get the
solution up and
running

DECREASE COSTS

Driving down cost of compliance through simplification and standardization of processes

SUSTAINABLE & SCALABLE SOLUTIONS

Utilise solutions to allow flexibility and growth and move away from rigid risk management systems

IDENTIFY

RISKS & ISSUES

Assist firms to identify risks and issues through scenario analytics and horizon scanning for new regulations

LINK

CONTROLS & FRAMEWORK

Allow controls and risk framework to be linked seamlessly when RegTech solution work with

enterprise-wide governance and risk and control

platform 

Financial Institutions
Develop RegTech strategy and
roadmap and adopt solutions

RegTech Firms
Understanding of engagement between business and regulators to help develop solutions

Regulators
Encourage dialogue and gather market views to promote innovation and create common integrated standards

Professional Services
Responsible for understanding the requirements, needs and solutions in the ecosystem and to drive 'regulatory standards, institution needs and vendor solutions'

Fined $34.5m for failing to report details of trading in exchange traded derivatives 

Fined $41 m by the Securities and Exchange Commission for insufficient monitoring for anti-money laundering in 2017

and in 2016, fined $7.2bn by U.S. Department of Justice 

Fined $8.9 bn for violations in transaction sanctions in 2014

Spending on regulatory programmes and compliance rose 12% to $800m in the first three months of 2017 

Securities division fined $16.5 m for AML faults in 2016 

Around $80 billion is spent on
governance, risk and compliance,
and the market is only expected
to grow, reaching $120 billion in
the next five years.

Between 2009 and 2015, the fines and settlements in the financial services industry in the US only hit $204 billion, paid outthrough 175 settlements.

Banks with assets ranging from
$1 billion to $10 billion reported
total compliance costs averaging
2.9% of their noninterest
expenses, banks with less than
$100 million in assets reported
costs averaging 8.7% of their
noninterest expenses.

On average, financial institutions have 10-15% of their staff dedicated to compliance

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