Regtech: The Intersection Of Technology And Regulatory Compliance In Finance

RegTech is a combination of “regulatory” and “technology” which refers to the application of technology to streamline and automate compliance processes in the financial sector. By leveraging innovative technologies such as artificial intelligence (AI), machine learning (ML), big data analytics, and blockchain, RegTech aims to enhance the efficiency, accuracy, and effectiveness of regulatory compliance. It enables financial institutions to stay abreast of regulatory changes, identify risks, and ensure adherence to compliance obligations in a more timely and cost-effective manner.