Money Laundering Directive, AML and KYC regulations, Basel IV: Since the 2008 financial crisis, the banking sector has been under increasing regulatory pressure. As a result, compliance has become correspondingly costly for companies.
Advantages of RegTech providers
RegTech providers can help to reduce costs. They develop technological solutions for banks and financial institutions. These support companies in dealing with the increasing burden of regulation. And they also offer other benefits: they improve interaction with customers, ensure greater cost efficiency and eliminate deficiencies in the compliance system.
Study provides an overview of 300 industry representatives
There are now many different providers and therefore also different solutions on the market. It is therefore not easy to decide which provider is best suited to your own company. For our RegTech market study, we spoke to over 300 industry representatives who offer concrete solutions for specific use cases in the area of regulatory & compliance.
Scoring model for the evaluation of RegTech solutions
We used a scoring procedure to evaluate the various providers and solutions. The following categories were analysed:
- Real-time data provision,
- the use of new technologies,
- integration into existing architectures and
- the user's ability to make changes to the solutions.
