Powered by AI , Machine Learning and NLP , and driven by increasingly complex regulatory environments , the RegTech industry is rapidly reaching maturity
INSURTECH
Powered by AI , Machine Learning and NLP , and driven by increasingly complex regulatory environments , the RegTech industry is rapidly reaching maturity
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T hroughout the global finance industry , enterprises are facing an increasingly complex regulatory landscape . Issues of compliance , risk management and reporting have always been a challenge to overcome in this sector . However , the explosion of technology-driven financial solutions in the last decade has created complications in this space faster than they could be solved .
The fintech revolution has accelerated the pace of change in the finance sector dramatically . The industry is becoming faster , more agile , and more efficient than ever ; new services , increasing connectivity , and deeper penetration of digital solutions across every global market is disrupting verticals like never before . Given the speed of these changes , the global regulatory framework has also fractalized , increasing in complexity faster than enterprises can adapt .
Between 2008 and 2016 , there was a 500 % increase in regulatory changes in developed markets . Today , it ’ s estimated
AUGUST 2020